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AGTech’s profits rise
AGTech Holdings, a lottery services company headquartered in China, has posted a profit of $20 million during the first half of 2018. The upswing in profits is attributed to the new lottery contracts it obtained in China. The company said in a statement that the profits were boosted by a number of non-cash and non-operating items tied to convertible bonds and payables as part of the Score Value Transaction. The company’s overall revenue rose by 14 per cent to $7.8 million, mainly boosted by the revenue from its lottery operations.
AGTech’s lottery hardware business skyrocketed by 43.5 per cent and lottery games and systems-related operations jumped 40.8 per cent. Over the prior-year period, a 190.1 per cent increase was seen for the company’s distribution and ancillary services. Despite the jumps, AGTech’s board did not recommend paying an interim dividend.
Given the company’s recent expansion in China with new contracts, AGTech feels that it is in a great position to participate in both mobile and online lotteries in the country, pending the removal of a ban on online lottery ticket distribution. Until that happens, the company hopes to continue its overseas expansion plans through acquisitions.
AGTech said in releasing its financials, “…[T]he Group has been in the process of identifying suitable acquisition targets and has been discussing with potential targets on such potential acquisitions, including those engaged in the businesses of lottery systems and technology, lottery games and technology, online lottery games and systems and lottery operations.”
AGTech has scored a number of new contracts in China recently. The Hong Kong-based company is now the supplier of lottery terminals for Guizhou, Hebel, Shanghai and Henan. It also recently partnered with the Jiangsu Province Sports Lottery Administration Center (JPSLA) in an effort to promote innovation for the lottery space and to enhance research and development of new lottery games.
After the company entered into the deal with the JPSLA, AGTech CEO John Sun asserted, “Given the considerable scale of lottery sales in Jiangsu Province, Alibaba and Ant Financial’s expansive offline retail network and channels as well as our expertise and experiences in the lottery channel business and technology and data services, we believe this strong combination will further improve the consumption pattern and experience of sports lottery products as a whole. It will also advance the lottery industry and contribute to the healthy development of national sports and public welfare.”
Source: calvinayre.com
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AGCOR backs WSL Challenger Series to boost PH sports tourism
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The Philippine Amusement and Gaming Corporation (PAGCOR) has expressed full support for the ongoing World Surf League (WSL) Challenger Series in Baler, Aurora for boosting sports tourism and the country’s position as a premier surfing destination.
PAGCOR Chairman and CEO Alejandro H. Tengco said the agency is proud to sponsor a global league that brings elite surfers to iconic waves across the world, including celebrated Philippine surfing sites such as Siargao, La Union and Baler.
“We proudly support the WSL Series, which showcases emerging surfing talents and shines a global spotlight on the world-class waves of the Philippines,” Mr. Tengco said of the event, which started on November 17 and will run until November 23.
“This competition provides Filipino surfers with a bigger stage to showcase their skills while helping promote sustainable coastal development in surf communities,” he added.
“We look forward to a successful WSL Challenger Series and to seeing more Filipino surfers make a mark on the international surfing scene,” Mr. Tengco said.
The WSL is the leading global platform for professional surfing, staging top-tier competitions throughout the year in celebrated surf destinations.
The Challenger Series serves as the crucial qualifying arena for athletes aspiring to join the elite WSL Championship Tour, attracting a field of seasoned professionals and rising stars from across the world.
The Philippines has long been part of the WSL map, with Siargao hosting league-sanctioned events for the past 29 years.
The country’s consistent presence in the global surfing event has helped elevate local shores – particularly Cloud 9 in Siargao, as well as surf hubs in Baler and La Union –into key destinations for both athletes and adventure tourists.
The post AGCOR backs WSL Challenger Series to boost PH sports tourism appeared first on European Gaming Industry News.
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PRONET GAMING BECOMES FIRST B2B OPERATOR TO ESTABLISH SCBPO ACCREDITED OPERATION IN THE PHILIPPINES VIA CLAYMORE SOLUTIONS
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Omni-channel turnkey provider Pronet Gaming is the first internationally-licensed B2B company in the gaming sector to establish an SCBPO-accredited operation in the Philippines via Claymore Solutions.
Claymore Solutions is accredited by the Philippine Amusement and Gaming Corporation (PAGCOR) as a Special Class BPO (SCPBO), which authorises them to provide employer of record & serviced office space to internationally licenced gaming operators enabling them to establish operations in the Philippines without taking bets or payments.
Pronet Gaming will now build out IT and Trading teams in Manila, further strengthening its operational presence and technical capabilities in the region.
Pronet Gaming CEO Alex Leese said: “Establishing an SCBPO-accredited presence in the Philippines is a milestone that aligns perfectly with our long-term strategy of expanding our footprint in Asia, in a fully compliant way. We’re happy to have made this possible through the collaboration and support of our trusted partner, Claymore Solutions.”
Paul Fox, Chairman and Co-Founder of Claymore Solutions, said: “We’re honoured to be working with Pronet Gaming, providing EoR and serviced office space solutions for their operations which underlines the quality of local staff and further boosts the Filipino economy.”
PAGCOR Chairman Al Tengco commented: “We’re delighted to have B2B operators such as Pronet Gaming establish their Trading and IT operations here through Claymore Solutions. I hope that more companies follow given the wealth of readily available Filipino talent in this sector.”
Claymore will announce additional client partnerships in the near future.
The post PRONET GAMING BECOMES FIRST B2B OPERATOR TO ESTABLISH SCBPO ACCREDITED OPERATION IN THE PHILIPPINES VIA CLAYMORE SOLUTIONS appeared first on European Gaming Industry News.
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Fairspin Casino Unveils the Royale Run Tournament Overview
Fairspin Casino presents the Fairspin Royale Run Tournament, an event designed to offer participants access to high-value rewards. The circle of privilege is introduced as a thematic element of the tournament and is presented as part of the overall concept.
From November 15 to December 25, gameplay is structured as a progression-based format, with rewards that include a luxury car, a premium motorcycle, and a branded watch.
The Fairspin Royale Run Tournament combines entertainment with measurable advancement through Fairspin’s transparent Play to Earn system. Each action contributes to overall progress, bringing participants closer to the available prizes.
Royale Run Tournament Prestige Overview
The Fairspin Royale Run Tournament is presented as a competitive event within the platform, featuring rewards intended to highlight its premium positioning. The tournament links in-game activity with defined outcomes, offering items such as a car, a motorcycle, and a watch as part of the prize structure.
By combining an incentive-based format with these rewards, Fairspin outlines its approach to transparent, activity-driven gaming. The Fairspin Royale Run Tournament reflects the platform’s emphasis on structured progression and measurable results.
Tournament Participation Details
The Fairspin Royale Run Tournament follows a Play to Earn format in which each bet contributes to advancement on the leaderboard. A total prize pool of $50,000 USDT will be allocated among 100 winners.
Participation is outlined as follows:
- Users can join the event by selecting “Participate” on the tournament page.
- Users can engage in any preferred games* — each bet boosts overall ranking.
*All games are eligible for the tournament, except those listed in Section 7.1.2.
Results are determined by the number of TFS tokens accumulated during the event. TFS is Fairspin’s digital asset used to reflect activity within the platform. Higher token totals correspond to higher positions on the leaderboard.
The winners will receive the following prizes:
- 1st place: 20,000 USDT or a car certificate
- 2nd place: 10,000 USDT or a motorcycle certificate
- 3rd place: 6,000 USDT or a watch certificate
- 97 finalists will share 14,000 USDT in additional rewards
Each action recorded during the tournament contributes to overall standing and eligibility for the listed prizes.
TFS Token Usage Overview
TFS tokens are used within the Fairspin ecosystem beyond the tournament period. They function as a mechanism for in-platform utility, as accumulated TFS can be converted into game currency, staked for defined returns, or exchanged in the Fairspin Store for items such as bonus funds, free spins, free bets, and selected technology products.
The platform outlines its token mechanics, withdrawal processes, and loyalty structure as part of its overall operating model, with each action contributing to measurable activity within the system.
About Fairspin Casino
Since its inception in 2018, Fairspin Casino has been at the forefront of innovation, combining a rewarding gaming experience with unparalleled blockchain transparency. With more than 10,000 games from over 100 top-notch developers, fast withdrawals, and enticing promotions, Fairspin continues to set the gold standard in the online casino industry.
The introduction of Fairspin’s TFS token has adjusted engagement dynamics on the platform. TFS is accumulated through rakeback and progression within Fairspin’s 10-level loyalty program. Tokens can be staked for defined returns or exchanged for a range of available benefits, including additional gameplay options and platform rewards.
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