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AGTech Holdings Announces Third Quarterly Results for the Nine Months Ended September 30

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6-16 AGTech Holdings Announces Third Quarterly Results for the Nine Months Ended September 30Reading Time: 2 minutes

 

AGTech Holdings has announced the third quarterly results for the nine months ended September 30, 2019.

Revenue of the Group for the nine-month period amounted to approximately HK$118.1 million representing a decrease of approximately 8.9% over the corresponding period in 2018. 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 nine-month period was primarily caused by the decrease in sales of lottery hardware of approximately HK$14.5 million. The decreases in revenue were partially offset by an increase of approximately HK$6.1 million in revenue from the lottery games and systems.

John Sun, Chairman and CEO of AGTech said: “We are pleased to announce that the Group continued to capitalize on many core business opportunities in the lottery and games & entertainment sectors, providing innovative and high-quality products and services to the industry, and continue to establish the foundation for future growth opportunities.”

“During the Nine-Month Period, the Group won eleven lottery hardware tenders to supply lottery terminals to the SLACs in Tianjin, Hainan, Guangxi, Guizhou, Anhui, Beijing, Guandong, Jiangsu, Heilongjiang, Zhejiang of the PRC. This demonstrates the Group’s continued industry leading position and commitment in China’s lottery hardware market.”

“The Group will continue to leverage and explore on collaboration with Alibaba Group’s retail ecosystem to enhance on lottery distribution models where appropriate. Current retail networks include Lingshoutong, Alibaba’s mom-and-pop convenience stores, rural Taobao, the physical network of rural locations in China, and Cainiao Post, community-based pick-up drop-off physical stations. We believe that the integration of lottery services and products through Alibaba’s physical new retail distribution channel and networks under new retail strategy will continue to create opportunities in the future.”

“Paytm First Games (formerly known as ‘Gamepind’), a mobile games and entertainment platform of the joint venture of the Group with One97 Communications Limited in India, launched a dedicated cricket channel in March and fantasy cricket in May. The Group expects that Paytm First Games will continue to build its user base, paving the way to monetize this unique platform, thus capitalizing on the significant potential of the fast growing mobile entertainment market in India.”

“With regards to our investment relating to the formation of Ant Bank (Macao) Limited (formerly known as ‘Xinghui Bank Limited’), the Group’s increase in share capital contribution to the JV Company demonstrates our commitment to grow the business and pursue further development opportunities in Macau and overseas.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: AGTech Holdings Announces Third Quarterly Results for the Nine Months Ended September 30

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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EveryMatrix expands into the Spanish market with CasinoEngine

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CasinoEngine-Spain EveryMatrix expands into the Spanish market with CasinoEngineReading Time: < 1 minute

 

EveryMatrix is thrilled to announce the successful completion of the technical assessment of its flagship product CasinoEngine in Spain. By offering a large selection of Spanish certified casino vendors as well as integration platform services, CasinoEngine can now assist operators in their endeavours of entering the Spanish online casino market.

CasinoEngine is fully certified and complies with the technical, security, and vulnerability standards imposed by the Dirección General de Ordenación del Juego (DGOJ).

Stian Hornsletten, Group Chief Commercial Officer of EveryMatrix, commented: “Helping casino operators to enter new jurisdictions is a key objective of our long-term plans. We are happy to be setting our footprint into new regulated markets and prove that our technology can be effectively adapted to meet specific regulatory requirements.

“Our casino product is ready to be offered to operators in one of the fastest growing markets in Europe, and this is a fantastic development for CasinoEngine, allowing us to strengthen our presence in Europe and unlock new opportunities for online operators.”

Currently, EveryMatrix holds licenses or certificates to act as a software provider to licensed operators in Malta, The United Kingdom, Denmark, Romania and Curacao. Moreover, CasinoEngine is complying with several jurisdictions including Sweden, Norway, Armenia, Georgia, Lithuania, and now Spain. CasinoEngine is also Schleswig-Holstein integrated and remote gambling certified.

CasinoEngine focuses on streamlining the processes around content aggregation and provides top-notch services to a variety of large operations including Norsk Tipping, Tipico, Wunderino, and mybet.

 


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: EveryMatrix expands into the Spanish market with CasinoEngine

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Betsson Becomes Largest Stakeholder in Suaposta

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9-7 Betsson Becomes Largest Stakeholder in SuapostaReading Time: < 1 minute

 

Online gambling and betting operator Betsson has acquired a 75% stake in Suaposta and become the single largest stakeholder in the Brazilian race betting operator.

According to the deal, despite Betsson now becoming the largest stakeholder, Suaposta’s founders André Gelfi and Fernando Corrêa would be in charge of the brand’s local online operations.

Gelfi said that the increased involvement of Betsson will put them in “an interesting position to contribute to the development of the onshore sports betting market in Brazil.”

Brazil is about to legalise gambling and Betsson’s deal with Suaposta will strategically benefit the company when the gambling market opens up in Latin America’s largest country.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Betsson Becomes Largest Stakeholder in Suaposta

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Department of Veterans Affairs Opens Gambling Addiction Treatment Centre in Las Vegas

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8-7 Department of Veterans Affairs Opens Gambling Addiction Treatment Centre in Las VegasReading Time: < 1 minute

 

The Department of Veterans Affairs has opened a new in-patient gambling addiction recovery centre in Las Vegas.

The facility is the second of its kind in nearly 50 years at VA: the department’s first gambling addiction centre – a trailblazing treatment facility that was the first of its kind in the country for addressing compulsive gambling – opened at the Brecksville, Ohio, VA Medical Centre in 1972.

Now part of the Louis Stokes Cleveland VA Medical Centre, it was the sole inpatient treatment centre for gambling addiction, drawing more than 100 veterans annually from around the country for care.

Tim Jobin, chief of behavioural health at the VA Southern Nevada Healthcare System, said the new gambling addiction centre “fills a gap in our mental health continuum of care.”

“The staff has dedicated countless hours of planning, mindfulness and reviews to make this happen here today,” Jobin said.

The new gambling addiction centre has 20 beds, including a separate wing with five beds for women veterans, and will focus on individual treatment plans using a “whole health approach” geared to emotional, physical and mental healing.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Department of Veterans Affairs Opens Gambling Addiction Treatment Centre in Las Vegas

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