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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
Source: Latest News on European Gaming Media Network
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Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights
Malta, 28th March 2024 – PolarLotto, a leading provider of lotto betting services in Sweden, has just announced a strategic partnership with Fast Track, a leading provider of CRM solutions designed specifically for the iGaming industry. This collaboration aims to propel PolarLotto’s expansion from offline to online offerings, bringing the excitement of the world’s biggest lotteries to Swedish players in a safe and responsible manner.
PolarLotto prides itself on its commitment to transparent and ethical gaming practices, with a focus on player safety and responsible gaming. By teaming up with Fast Track, PolarLotto aims to leverage cutting-edge technology to expand its business model from traditional to online, ensuring a seamless and engaging experience for its customers.
Commenting on the partnership, Benjamin Burstein, CEO of PolarLotto, expressed enthusiasm about the possibilities ahead, stating, “We are excited to embark on this journey of transforming our business with the latest technology and automation tools provided by Fast Track. As we transition to the online space, we are confident that Fast Track’s expertise in custom segmentation, real-time data capabilities, and personalised experiences will enable us to better serve our players and achieve our business objectives.”
Fast Track also expressed confidence in the partnership, highlighting the potential for exceptional results through its Singularity model, which uses AI and machine learning to deliver tailored content to players, at the right time and through the most effective channel. “We are thrilled to partner with PolarLotto and support their online expansion,” said Simon Lidzén, CEO and co-founder of Fast Track. Our tools are designed to empower lean teams to achieve remarkable results, and we look forward to helping PolarLotto maximise their online presence and engagement.”
The post Fast Track welcomes PolarLotto: taking online lotto in Sweden to new heights appeared first on European Gaming Industry News.
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Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years
As the CS2 PGL Major in Copenhagen is set to kick off, Red Bull Media House will unveil a captivating feature-length documentary, “Memories of CS:GO – The Early Years,” an ode to one of the most influential games ever made.
This film takes viewers on an immersive journey through the origins and evolution of Counter-Strike: Global Offensive (CS:GO), featuring personal accounts and defining moments from several of the most legendary figures of the game.
The 90-minute documentary, narrated by Counter-Strike commentator Henry “HenryG” Greer, chronicles the remarkable trajectory of CS:GO, from its grassroots beginnings to becoming a global esports phenomenon.
Produced by Red Bull Media House, the film captures the essence of the game through the eyes of its most well known players, including Olof “olofmeister” Kajbjer Gustafsson, Patrik “f0rest” Lindberg, Richard “shox” Papillon, Gabriel “FalleN” Toledo, and Jarosław “pashaBiceps” Jarząbkowski, among others.
The documentary’s release is timed to precede the playoff stage of the PGL Major Copenhagen, scheduled for March 26, 2024. It will premiere on Red Bull Gaming’s YouTube channel at 21:00 CEST, offering viewers worldwide an insider’s perspective on the beloved game.
Event Details:
- What: Premiere of “Memories of CS:GO – The Early Years”
- When: March 26th, 2024, at 21:00 CEST
- Where to watch: Red Bull Gaming’s Youtube Channel
- The “CS:GO Memories” documentary can be viewed shareit.redbull.com
The post Red Bull Gaming premieres ‘Memories of CS:GO’ documentary highlighting the game’s early years appeared first on European Gaming Industry News.
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Ten Square Games ready for a new development opportunities in 2024
2023 ESPI package
The following documents in pdf format are equivalents of the official Consolidated Financial Statement which were reported in ESPI (download in the zip file above)
2023 Consolidated Financial Statement
2023 Management Board Report on Activities
Independent Auditor’s Report on the Audit of Annual Consolidated Financial Statements
Link to the stream
Link to the chat with individual investors
Presentation
Factsheet
Financial data
Transcription of the conference and Q&A session
For complete press release visit tensquaregames.com
The post Ten Square Games ready for a new development opportunities in 2024 appeared first on European Gaming Industry News.
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