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AGTech Announces Interim Results For The Six Months Ended June 30, 2020

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AGTech Announces Interim Results For The Six Months Ended June 30, 2020
AGTech Announces Interim Results For The Six Months Ended June 30, 2020Reading Time: 3 minutes

 

AGTech Holdings Limited, a leading integrated lottery, games and entertainment technology company in China, announced the interim results for the six months ended June 30, 2020.

According to MOF figures, during the Six-Month Period, lottery market recorded sales of approximately RMB123.9 billion, a decrease of approximately 41.7% compared to the corresponding period in 2019. Other than the closure of national lottery market during Chinese Lunar New Year, the drop in sales was mainly due to the impact of Novel Coronavirus (“COVID-19”) outbreak while the business hours of lottery sales outlets were significantly reduced. Lottery sales activities have since resumed in March 2020, and the Group will continue to closely monitor the latest development and recovery post pandemic.

AGTech’s Hardware division primarily supplies the Sports Lottery and the Welfare Lottery and has hardware deployed in multiple provinces, cities, municipalities and autonomous regions across China. During the Six-Month Period under review, the Group won five lottery hardware tenders to supply lottery terminals to the SLACs in Anhui province, Shanxi province, Jilin province, Hubei province and Guizhou province of the PRC. The Group will continue to pursue tenders to supply to the lottery and other hardware market and bid for new contracts after resumption of tenders post COVID-19 delays.

Transition to new retail models presents a great opportunity for the further development of the Group’s hardware business. Many of the hardware supplies required under such new retail concept share similar technology and components that underlie the lottery hardware products supplied by the Group throughout the years. We believe our hardware division continues to be well positioned to take advantage of such opportunities in the foreseeable future.

The Group continues to operate the lottery channel on mobile Taobao and mobile Alipay to serve as a one-stop platform on lottery related information for existing and potential customers. With the recent addition of sporting content and sports intelligence services to our lottery channel, we expect to roll out further engagement features and tools to improve user experience and engagement.

From a lottery products point of view, we have identified instant scratch lottery games to be an important product initiative for the coming year, as we will be dedicating resources to open up this market within the lottery sector.

FINANCIAL HIGHLIGHTS

Revenue of the Group for the Six-Month Period amounted to approximately HK$43.9 million, representing a decrease of approximately 8.0% over the corresponding period in 2019. Revenue contributions were mainly derived from lottery hardware, lottery games and systems, provision of lottery distribution and ancillary services, games and entertainment business in the PRC.
The decrease in revenue for the Six-Month Period was primarily caused by the decrease in sales of lottery hardware of approximately HK$6.6 million and decrease of approximately HK$1.0 million in revenue from games and entertainment division, partially offset by an increase of approximately HK$4.6 million from the lottery games and systems.
The decrease in revenue from hardware business was due to slower tendering processes and hardware deliveries in several provinces as compared to the corresponding period in 2019 as a result of the COVID-19 pandemic.The increase in revenue from the lottery games and systems was caused by the increase in sales volume from the virtual sports lottery games in the second quarter of 2020 after the reopening of PRC lottery market.
Operating loss for the Six-Month Period was approximately HK$105.6 million, representing a decrease of approximately 12.1% over the corresponding period in 2019.
About AGTech Holdings Limited

AGTech was incorporated in Bermuda and its shares are listed on the GEM (Stock Code: 08279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 340 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Group.

AGTech’s businesses are broadly divided into two categories:

Lottery (including hardware, games and systems, provision of distribution and ancillary services); and
Games and Entertainment.
AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), and an official partner of the International Mind Sports Association (IMSA).

Source: AGTech Holdings Limited


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This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: AGTech Announces Interim Results For The Six Months Ended June 30, 2020

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Paysecure brings Gibraltar’s iGaming payments community together for exclusive industry event

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Paysecure, a leading provider of payment orchestration solutions for the iGaming industry, successfully hosted its exclusive event Securing Faster Payments in iGaming aboard the Sunborn Hotel in Gibraltar on 16th October.

The evening brought together senior figures from operators, technology providers, and payment networks to explore the evolution of faster, more secure payment experiences in iGaming, and what lies ahead for the sector.

With speakers from Worldpay, Mastercard, DAZN, Pretty Technical, and Paysecure, discussions centred around balancing player experience, security, and compliance in a rapidly changing landscape.

Across keynote talks and a healthy panel debate, speakers explored how technology, data, and collaboration are reshaping the future of payments in iGaming.

A recurring theme was the tension between speed and security, and how advances such as network tokenisation and smarter orchestration are allowing operators to achieve both. Attendees heard how network tokens are improving authorisation rates and trust, while also fuelling new payment experiences, such as click-to-pay, which in turn reduces cashier friction and provides a seamless player journey.

The discussion also delved into how player-centric design, behavioural analytics and the latest technological innovations are transforming the deposit journey. With more than 30% of players abandoning deposits due to checkout friction, speakers shared insights on how to define and build dynamic payment experiences, utilizing customer segmentation, intelligent routing, and rich data-insights; and further reflected on the importance of ecosystem connectivity for pushing the industry forward.

It is clear from the discussions that payments are no longer a utility, but a point of competitive advantage for operators. Payments remain a pivotal conversion moment, and a lot hinges on the experience, with players expecting to pay quickly and efficiently how, when and where they want.

Paysecure’s Chief Commercial Officer and Co-Founder, Viktoriia Degtiarova, emphasised the importance of collaboration in raising industry standards: “The Paysecure Payment Professionals event really highlighted how critical payments are to operator success. In today’s fast-moving iGaming landscape, continual innovation in payment solutions isn’t optional, it’s essential. Success relies on collaboration across the entire ecosystem, from operators and PSPs to regulators and technology partners, ensuring seamless experiences for players while driving growth for all stakeholders.”

Farish Lakhani, Corporate Sales Director at Worldpay Global SMB further shared, “Thank you to Paysecure for hosting such a well-organised event in Gibraltar and for inviting us to be part of the conversation. It was a great opportunity to share insights and collaborate on shaping the future of payments in iGaming”.

Following the success of the Gibraltar event, Paysecure Payment Professionals – The iGaming Edition will continue across other key iGaming hubs in 2026, building on the discussions and relationships formed at this inaugural event.

 

The post Paysecure brings Gibraltar’s iGaming payments community together for exclusive industry event appeared first on European Gaming Industry News.

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ProgressPlay to Unveil Next-Generation Sweepstakes Solution at SiGMA Europe 2025, Redefining Market Entry and Player Engagement

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ProgressPlay, a premier iGaming platform and solutions provider, has announced its prominent presence at SiGMA Europe 2025 in Rome on stand 4246, where it will spotlight its groundbreaking Sweepstakes Solution. The company is set to demonstrate how this innovative model provides operators with a compliant, high-impact pathway to captivate players in complex and emerging markets.

The event will serve as the launchpad for ProgressPlay’s most advanced sweepstakes package to date, featuring a complete suite of technological and operational tools designed for rapid market entry and sustainable growth. The solution offers a proven alternative to real-money gaming that drives exceptional player loyalty and lifetime value.

Marina Nahhas, Head of B2B Sales and Marketing at ProgressPlay, emphasised the strategic advantage the solution offers. “The global demand for engaging, compliant gaming experiences has never been higher. Our Sweepstakes Solution isn’t just an add-on; it’s a strategic master key for operators looking to unlock new revenue streams without the traditional barriers,” stated Nahhas. 

Nahhas continued: “At SiGMA, we will show partners how to seamlessly integrate this model, leveraging our robust platform and vast content library to build a vibrant and loyal player community from day one. ProgressPlay invites operators, brands, and potential partners to book a private meeting at SiGMA Europe 2025 to experience a live demonstration of the Sweepstakes Solution and explore bespoke partnership opportunities.”


ProgressPlay’s comprehensive solution includes a sweepstakes engine, a dedicated portfolio of engaging games optimised for the model, bespoke back-office management tools, and more. This end-to-end approach allows operators to focus on player acquisition and growth.

Itai Loewenstein, CEO of ProgressPlay, highlighted the solution’s role in the company’s vision for global expansion. “In an industry defined by evolution, true leadership means providing the tools for our partners to not just adapt, but to lead. Our Sweepstakes Solution is a testament to that commitment,” said Lowenstein. “We are empowering our partners to explore new frontiers with confidence and agility.”

Loewenstein concluded: “For any operator or brand looking to diversify their offerings and future-proof their business, our stand 4246 at SiGMA is a must-visit destination.”

The post ProgressPlay to Unveil Next-Generation Sweepstakes Solution at SiGMA Europe 2025, Redefining Market Entry and Player Engagement appeared first on European Gaming Industry News.

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ZettaOnline Wins “Best Payment Provider” at EiGE Awards 2025 During the European Gaming Congress in Warsaw

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ZettaOnline has been named Best Payment Provider at the EiGE Awards 2025, held during the European Gaming Congress (EGC) in Warsaw, Poland on 30-31 October.

Organized by Hipther, the awards honor excellence and innovation across the gaming and fintech ecosystem. The “Best Payment Provider” title recognizes the company that delivers secure, fast, and friction-free transaction solutions, setting new benchmarks for reliability and customer experience in iGaming.

This distinction marks ZettaOnline’s second major recognition in 2025 in the same category, reinforcing its position as a trusted fintech partner for regulated gaming operators.

“Receiving this award at such a renowned industry event is an incredible honor and a reflection of our team’s focus on strategic advancement, compliance, and client success,” said Milena Tsankarska, Chief Commercial and Marketing Officer at ZettaOnline, who accepted the award on behalf of the company.

In addition to the company’s success, Milena Tsankarska had received individual nominations in two categories: iGaming Leader of the Year, celebrating vision and leadership in the industry, and iGaming Influencer of the Year, honoring individuals whose insights and impact help shape the gaming community.

At the European Gaming Congress, Tsankarska also joined the panel “Beyond the Booth: Strategic Event Preparation in B2B PR, Marketing & BizDev,” where she discussed the evolving role of communication in a data-driven era. Her key message highlighted the importance of aligning research, audience understanding, and business goals to create marketing that resonates and drives measurable outcomes.

“We value this event because it allows us to create a network of long-term partners. It’s great to see the potential of the gaming industry showcased by a diverse range of companies and ideas,” said Tsankarska. “We’re thankful to the Hipther team for recognizing our work and for creating spaces that foster real collaboration and progress across the sector.”

ZettaOnline continues to strengthen its position within the fintech and gaming ecosystems, delivering tailored solutions that combine technology, compliance, and security across multiple regulated markets. The company’s expertise spans online payments, cyber security, cloud services, certification, IT infrastructure, software development, server and system administration, and technical compliance, ensuring every partner receives a holistic approach to operational excellence. With a focus on speed, reliability, and intelligent scalability, ZettaOnline empowers businesses to navigate complex financial and technological environments with confidence and clarity.

The post ZettaOnline Wins “Best Payment Provider” at EiGE Awards 2025 During the European Gaming Congress in Warsaw appeared first on European Gaming Industry News.

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