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AGTech Holdings Announces its 2019 Annual Results

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AGTech Holdings Announces its 2019 Annual Results
AGTech Holdings Announces its 2019 Annual ResultsReading Time: 2 minutes

 

AGTech Holdings has announced its annual results for 2019. The total revenue amounted to approximately HK$175.1 million, an increase of 3.9% over 2018. The main sources of revenue were lottery hardware, lottery games and systems, provision of lottery distribution and ancillary services, games and entertainment business in the PRC.

The revenue hike was primarily due to the increase in revenue from the lottery games and increase in sales from lottery hardware.

Operating loss for the year was approximately HK$194.9 million (2018: approximately HK$262.0 million), representing a decrease of approximately 25.6% over 2018.

The loss for the year under review was approximately HK$113.6 million (2018: profit of approximately HK$317.1 million). The change from profit to loss for the year was mainly attributable to several non-cash and non-operating items relating to the fair value changes of the Convertible Bonds and the contingent consideration payables under the Score Value Transaction.

John Sun, Chairman and Chief Executive Officer of AGTech, said:

“In 2019, our overall business continues to evolve and transform, both domestically and on the international front, to deliver a more sustainable and commercially viable business model. In a year which saw sales in the Chinese lottery sector decrease by approximately 17.5% compared to last year, the group stands strong and continues to work responsibly according to regulatory requirements, and at the same time explore on innovative measures towards development of the industry. As witnessed by our blockchain application project and augmented reality (AR) driven marketing campaign throughout 2019, we continue to lay the necessary foundation for our team, systems, technology and infrastructure to be well positioned towards our digitalization initiatives.”

“Our hardware division continues to bring innovative products to the market and maintain our position as a leading lottery hardware supplier. As we enter the era of 5G and the Internet of Things, our goal to implement and utilize smart technology applications to more retail shops under the Alibaba Group’s network will continue. The Group would like to congratulate Jiangsu province’s e-Ball Lottery in reaching RMB10 billion in total sales since its initial launch in 2013. This is a remarkable achievement, and we will continue to work closely with the provincial team to ensure smooth operations and promote responsible lottery to the community.”

“We anticipate to roll out our full suite of lottery solutions, including our SaaS (Software-as-a-Service) lottery delivery platform, a fully integrated digital platform that is tailored to serve both business and customers to refine on user experience on all fronts. Aligning to the Alibaba Group’s overriding new retail initiative, our platform will further enhance synergy by integrating hardware, software, and data to open up distribution channels, in addition to a potential new commercial model.”

“Paytm First Games (formerly known as Gamepind), our mobile gaming joint venture in India, will remain to be a key focus and driver for AGTech on the international front. In view of the success of our fantasy sport products in 2019, we will continue to serve as technical service provider to Paytm First Games’ sporting content. Supporting and grooming the platform to become a market leader in India has always been a mission to the Group. Our games and entertainment division will continue to develop and roll out engagement games for commercialization, and will also look for expansion opportunities in other selected international markets as well.”

 

Source: agtech.com


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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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R. Franco Digital reinforces growth in Spain with new TikiTaka Play launch

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Franco Digital, the Spanish gaming provider, is to power the launch of new Spanish casino TikiTaka Play, after the operator selected the supplier’s IRIS platform to launch and manage its new online gaming operation.

This strategic partnership, which reinforces R. Franco Digital’s commitment to delivering cutting-edge technology to regulated markets, means TikiTaka Play will be provided with a fully integrated, scalable, compliant platform.

IRIS will centralise essential operational functions for TikiTaka Play, including player account management (PAM), KYC/AML, payments, product administration, promotions, CRM, affiliate activity, fraud prevention, and real-time analytics. This will ensure TikiTaka Play begins its digital journey with strength, reliability, and support to optimise its growth in Spain.

This latest deal is a new milestone in R. Franco Digital’s technological roadmap as the company continues to reinforce its successful presence in regulated markets globally.

Javier Sacristán Franco, International Business Director of R. Franco Digital, said: “We are proud that TikiTaka Play has selected our IRIS platform to underpin its new online gaming operation.

“This partnership reinforces our growth in our home market and is a testament to the platform’s power, security, and scalability. It marks a solid beginning for what is set to be a highly successful collaboration.”

Jesús Muñoz, CEO and founder of Tiki Taka Games group, added: “The choice of platform was paramount for launching our new online operation, and R. Franco Digital’s IRIS solution stood out.

“It provides us with a fully integrated and regulation-ready environment, ensuring we enter the market with confidence and efficiency.”

The post R. Franco Digital reinforces growth in Spain with new TikiTaka Play launch appeared first on Gaming and Gambling Industry Newsroom.

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Wazdan debuts Jackpot Rain™ and 10 new titles with WINBET in Bulgaria

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Wazdan, the gain-focused developer, has partnered with WINBET to launch its acclaimed Jackpot Rain feature in Bulgaria for the first time, alongside 10 of its top-performing titles.

The agreement marks a major step forward for Wazdan’s growth in the Bulgarian iGaming market, bringing a mix of innovation and proven performance to one of the country’s leading operators.

Through the partnership, players at WINBET can now enjoy a host of Wazdan player favourites, including Burning Sun Extremely Light, Mighty Wild: Panther, 9 Coins Grand Platinum Edition, 15 Coins, Hot Slot: 777 Coins, 20 Coins, Hot Slot: 777 Crown, 12 Coins Grand Gold Edition, Black Horse Cash Out, and Mighty Symbols: Diamonds.

In addition to the slot lineup, Jackpot Rain will make its long-awaited debut in Bulgaria, bringing with it a new layer of excitement. The feature gives players the chance to trigger four progressive jackpots, adding a dynamic and rewarding dimension to gameplay across multiple Wazdan titles.

WINBET, the leading Bulgarian operator, offers a premium online experience with more than 300 casino slot games, live casino options, and a comprehensive sportsbook. Known for its generous promotions, seamless mobile experience, and variety of payment methods, WINBET continues to set new standards in the Bulgarian market.

This latest collaboration underscores Wazdan’s commitment to expanding its footprint in regulated territories by delivering next-generation features that enhance both player satisfaction and operator performance.

Magdalena Wojdyla, Head of Account Management for Europe at Wazdan, said: “This collaboration marks another exciting milestone as we continue expanding our presence in regulated markets across Europe.

“WINBET has built a strong reputation for quality and player engagement, and we are confident that our portfolio, together with the excitement of Jackpot Rain, will deliver outstanding results.”

Henrieta Nikolova, Head of Casino at WINBET said: “Partnering with Wazdan allows us to enrich our online casino offering with a series of titles known for their innovation and entertainment value.

“The exclusive launch of Jackpot Rain in Bulgaria is a great addition to our portfolio, and it is exciting to become the first operator in the country to deliver this experience to our players.”

The post Wazdan debuts Jackpot Rain™ and 10 new titles with WINBET in Bulgaria appeared first on Gaming and Gambling Industry Newsroom.

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Hub88 delivers InOut Games’ award-winning crash and instant titles to operator network

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‘Rising Star’ provider integrates retention-driving portfolio with flexible branding capabilities

Hub88 has broadened its network of studio partners by integrating InOut Games’ full suite of high-converting crash, instant and slot titles.

InOut Games has carved out a niche with its rapid-cycle gameplay and internationally appealing titles, including Chicken Road Race, Squid Gambler, Forrest Arrow and many others. Each game is built using HTML5, supports multiple currencies and crypto, and is localised into more than 15 languages – ensuring operators can cater to their target markets with ease.

Hub88’s operator network has now gained access to more than 47 InOut Games releases, which are developed to boost retention with an average user lifetime of up to 12 months. The provider offers high levels of flexibility with its complimentary branding service, while an automated onboarding system allows for seamless integration.

The addition of InOut Games represents an injection of creativity, energetic mechanics and lively themes into Hub88’s line-up, delivering adaptable titles designed for commercial success.

Ollie Castleman, Managing Director at Hub88, said: “InOut Games brings a distinctive energy to fast-play, with a portfolio built on punchy mechanics, vibrant characters and easy-to-understand concepts. Their ability to combine rapid-fire gameplay with expert localisation makes them a natural fit for operators seeking to capture attention quickly.

“As we continue prioritising partnerships that help brands stand out, integrating a studio as versatile and ambitious as InOut Games is a major win for our network.”

Ilya Rybasov, Head of AM Department at InOut Games, said: “Joining forces with Hub88 is a pivotal leap for us. Their success in putting innovative content in front of leading operators at scale gives us the perfect basis to accelerate our global ambitions.

“Hub88 understands the power of instant-play entertainment as much as we do, and we’re thrilled to deliver a new calibre of instant games to their network.”

The post Hub88 delivers InOut Games’ award-winning crash and instant titles to operator network appeared first on Gaming and Gambling Industry Newsroom.

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