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AGTech Holdings Announces its 2019 Annual Results

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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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This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: AGTech Holdings Announces its 2019 Annual Results
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Nagoshi Studio Unveils GANG OF DRAGON, a New Action-Adventure Game from Director Toshihiro Nagoshi
Steam page: store.steampowered.com/app/4146000/
GANG OF DRAGON
is a new action-adventure game set in Kabukicho, Shinjuku, Tokyo’s iconic nightlife district. Protagonist Shin Ji-seong is a high-ranking member of a Korean crime syndicate, and is portrayed by celebrated Korean actor Ma Dong-seok (Don Lee).This new story will engage players in an exciting way and showcase increadible graphics for an action packed adventure. Viewers of The Game Awards were the first to get a look at the new footage!
About Toshihiro Nagoshi
The post Nagoshi Studio Unveils GANG OF DRAGON, a New Action-Adventure Game from Director Toshihiro Nagoshi appeared first on Gaming and Gambling Industry Newsroom.
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Blask & Gamblers Connect Enter A New Media Partnership
Gamblers Connect, the award-winning iGaming affiliate and media platform, is proud to announce a new media partnership with Blask, a leading AI-powered analytics ecosystem dedicated to the iGaming industry.
This collaboration marks a pivotal step in the company’s mission to provide the most accurate, transparent, and data-backed content. Under the terms of this agreement, Blask will provide Gamblers Connect with complete access to its cutting-edge market intelligence platform.
This suite includes the Blask Index and real-time data tracking across more than 100 jurisdictions, allowing for granular analysis of market dynamics, brand performance, and player behaviour. By integrating these professional-grade tools into the editorial process, Gamblers Connect will elevate the depth and precision of its industry reporting.
The cornerstone of this partnership is a commitment to sharing knowledge with the wider iGaming community. Gamblers Connect will produce four exclusive case studies throughout 2026. Released once per quarter, these comprehensive reports will utilise Blask’s advanced analytics to uncover emerging trends, benchmark operator performance, and provide actionable insights for industry stakeholders.
This alliance represents a shared vision for a more transparent iGaming sector. By combining Blask’s technological prowess with Gamblers Connect’s editorial expertise, the aim is to set a new standard for data-driven journalism.
Max Tesla, Blask CEO, commented: “Partnering with Gamblers Connect is a natural step for Blask. We are building an ecosystem of transparent analytics that empowers the industry, and GC is one of the few media partners that truly values data and knows how to work with it. I’m confident this collaboration will strengthen both sides and deliver more accurate, trustworthy, and insight-driven content to the iGaming community.”
Gjorgje Ristikj, Founder & CEO at Gamblers Connect, added: “Partnering with Blask allows us to combine their strong analytical framework with our media expertise. It’s a collaboration grounded in trust and mutual respect, with the shared goal of delivering meaningful and measurable results to the industry.”
The post Blask & Gamblers Connect Enter A New Media Partnership appeared first on Gaming and Gambling Industry Newsroom.
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Law enforcement officers from Kazakhstan eliminated the organized financial criminal group organized by Vadim Gordievsky, Larisa Ivchenko, and Alyona Suvorova from Ukraine
The law enforcement agencies of Kazakhstan have effectively eliminated the organized criminal group created by Vadim Gordievsky from Ukraine and his accomplices, Larisa Ivchenko and Alyona Suvorova. Even though the law enforcement agencies managed to block accounts and payments of the Marginplus Company, key employees and management are still hiding.
According to the media, just a few days ago, the Financial Monitoring Agency of the Republic of Kazakhstan revealed a large-scale shady scheme of cross-border transfers that involved numerous payment organizations and providers. The funds were disguised as legal transactions and withdrawn to the accounts of online casinos. The total volume of illegal transactions exceeded more than $1 billion.
According to law enforcement authorities in the Republic of Kazakhstan, the key organizer of the miscoding scheme, which involved bookmakers, online casinos, payment organizations, and bank employees, is Vadim Ivanovich Gordievsky from Ukraine, who was born in 1974. He was the leader of the organized criminal group and used the local Marginplus Company for these purposes (official website: marginplus.kz). In addition to companies from Kazakhstan, Gordievsky also worked with illegal Russian online casinos while helping them to facilitate illegal payments.
According to new information from law enforcement agencies in the Republic of Kazakhstan, banks and bookmakers, including the local PIN-UP bookmaker, have already terminated all cooperation with Gordievsky’s Marginplus company.
According to informburo.kz, the local licensed Pin-Up.Kz bookmaker (legal entity: Bonami LLP) declares that it has nothing to do with transactions carried out by individual payment organizations. Judicial and criminal proceedings have already been initiated against these structures, and the company itself is fully cooperating with law enforcement agencies to establish all the circumstances and identify fraudulent, shady schemes.
According to unofficial information, the Pin-Up management provided the law enforcement agencies of the Republic of Kazakhstan with all the data related to the Marginplus company belonging to Vadim Gordievsky.
As of today, all financial activities of Marginplus have been paralyzed. In addition, large amounts of money have been blocked in its bank accounts. This money should have been paid to partners, contractors, and providers, including the local Parimatch betting company. Ordinary employees of Vadim Gordievsky’s company are already looking for new work while its management, including Larisa Vladimirovna Ivchenko (listed as the head of Gordievsky’s FC Alta Capital from Ukraine), is still hiding. Alyona (Elena) Suvorova has already closed and renamed her social media profiles a few days ago. In addition, she does not respond to messages and is trying to evade responsibility.
We would like to remind the audience that Alyona Suvorova positions herself “as an entrepreneur, investor, and a crypto trader with 5+ years of experience.” According to Suvorova herself, she has been developing payment technologies in the field of FinTech for 10 years. In 2021, she opened her own business for international crypto transfers. In addition, she is the founder of the Lemoncoin Crypto Academy.
According to investigators, Gordievsky’s partner, Mikhail Kovalev (Mykhaylo Kovalov), who is a citizen of both Ukraine and Israel, as well as an owner of a number of companies in the EU, in particular, in Poland, and who has a residence permit in Spain, was closely working with Gordievsky. By using the STABLEX SOLUTION Sp. z o. o fictitious company (official website: solvexs.pl) in Poland, he was engaged in illegal payments and withdrawal of cryptocurrencies into fiat money.
At the same time, as the source notes, the mentioned management and the people involved in the money laundering of Marginplus Company will be added to the wanted list of Interpol in the nearest future. The National Security Committee of the Republic of Kazakhstan has also announced that it’s going to closely monitor this case. According to local laws, participants of this shady scheme face up to nine years in prison. Information on Vadim Gordievsky’s companies and connections in other countries is also being checked.
After the initiation of criminal cases for financial crimes, fraud, and the announcement of his wanted list by the Ministry of Internal Affairs, Vadim Gordievsky left Ukraine on forged documents. Before diving into the world of financial fraud, he was involved in land and property issues in the Kyiv region. As of today, numerous criminal cases have been initiated.
The post Law enforcement officers from Kazakhstan eliminated the organized financial criminal group organized by Vadim Gordievsky, Larisa Ivchenko, and Alyona Suvorova from Ukraine appeared first on Gaming and Gambling Industry Newsroom.
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