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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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THE STAGE IS SET AS FINAL TEAMS ARE CONFIRMED FOR THE PUBG MOBILE GLOBAL CHAMPIONSHIP GRAND FINALS
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- The 2025 PUBG MOBILE Global Championship (PMGC) ignites as final two teams qualify for the Grand Finals
- Alter Ego Ares and Team Flash clawed their way through the pressure-packed Last Chance stage, claiming their well-deserved spots in the Grand Finals, as more than 1.2M fans around the world witnessed this nailbiting weekend
- 16 elite teams are now advancing to the main stage in Bangkok to battle for the lion’s share of the $3,000,000 prize pool
- In celebration of PUBG MOBILE and Balenciaga’s continued the Balenciaga I PUBG collaboration, the 2025 PMGC Grand Champions will take home the custom designed BALENCIAGA l PMGC l PGC 2025 Champion Jacket
- Building on a successful collaboration campaign with PUBG MOBILE, Porsche will invigorate the 2025 PMGC stage with the prize of a Porsche Cayenne to the MVP player of the 2025 PMGC Grand Final
After weeks of intense battles and a decisive Last Chance qualifier, the stage is set and the final teams are locked in for the 2025 PUBG MOBILE Global Championship (PMGC) Grand Finals. This past weekend marked the conclusion of the 2025 PMGC Last Chance stage, where 16 teams fought tooth-and-nail to be a finalist in this year’s culminating PUBG MOBILE Esports tournament. Highlighting the significance of this stage ahead of the main event, the Last Chance weekend saw more than 1.2M fans witness the action across the globe. With the dust now settled, the final two teams have secured their slots in the Grand Finals, where they’ll compete for their share of the massive $3,000,000 prize pool.
The Last Chance took center stage from December 6th -7th, as teams battled fiercely for their final opportunities to reach the Grand Finals. Day one saw Alter Ego Ares making an early statement, while Influence Rage and Loops Esports climbed the leaderboard with strong performances. On day two, the intensity ramped up as Weibo Gaming pulled off crucial late-game plays to surge up the leaderboard, while Team Flash stayed consistent, surviving each round to stay in the running. In the end it was Alter Ego Ares and Team Flash who had secured their spots in the Grand Finals, closing out the Last Chance stage and setting the stage for the ultimate showdown of the year.
Final teams qualified for the Grand Finals:
- Alter Ego Ares
- Team Flash
- DRX
- Regnum Carya
- EArena
- R8 Esports
- ThunderTalk Gaming
- Kara Esports
- MadBulls
- Alpha7 Esports
- ULF Esports
- D’Xavier
- Alpha Gaming
- DPlus KIA
- Team GOAT
- Vampire Esports
The 2025 PMGC Grand Finals roster brings together seven powerhouses from the Gauntlet Stage, six elite qualifiers from the Group Stage, the two Last Chance survivors, and Vampire Esports as the Host Country Invitee. With all finalists confirmed, the spotlight shifts fully to Bangkok, where the Grand Finals will erupt inside Siam Paragon from December 12th – 14th. As the defining event of the competitive calendar, the 2025 PMGC not only brings together the world’s strongest PUBG MOBILE Esports teams, but also marks a new era for the scene as it joins forces with the 2025 PUBG Global Championship (PGC), as PUBG UNITED 2025. Across three action-packed days, the world’s best squads will battle through six matches per day, as they chase fame and glory.
All signs point to an electrifying Grand Finals, with a roster stacked full of top-tier contenders. Alpha Gaming are poised as a team to watch after ripping through Group Green in the Group Stage with unwavering consistency, while R8 Esports made their intentions known early by dominating the opening Gauntlet Stage. Last year’s reigning champions Dplus KIA bring the heat to this year’s Grand Finals line-up, and with the remaining teams hungry to disrupt the established order, this year’s 2025 PMGC Grand Finals are set to make history.
Set to make this PMGC the grandest Grand Finals yet, and in continuing the city-wide celebrations, PUBG MOBILE partners Balenciaga and Porsche will each be represented through prizes awarded to the Champion team. Balenciaga has designed an exclusive jacket for each player of the 2025 PMGC Champion team, as a symbol of the talent and effort they have displayed. For the MVP player of the 2025 PMGC Grand Finals, they will be awarded with a brand new luxury Porsche Cayenne, the perfect prize for the player who shines the brightest in their performance.
Fans can tune in to watch the 2025 PMGC Grand Finals on PUBG MOBILE Esports’ YouTube, Facebook and Twitch channels, between December 12th – December 14th. For more PUBG MOBILE Esports news, stay tuned on Facebook, Instagram, Twitter, Youtube, and TikTok.
The post THE STAGE IS SET AS FINAL TEAMS ARE CONFIRMED FOR THE PUBG MOBILE GLOBAL CHAMPIONSHIP GRAND FINALS appeared first on European Gaming Industry News.
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Million Games Launches Goblin Brew – A Wild Night of Free Spins and Fortune
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Million Games has announced the release of Goblin Brew, a mischievous 5×5 fantasy slot developed by Yugo Workshop through the Million Stars partner programme.
Set in a dimly lit goblin tavern, Goblin Brew combines light-hearted fantasy with rewarding gameplay, offering Free Spins, Expanding Wilds, and a unique progression system that keeps every round unpredictable.
Landing 3 or more Beer Scatters triggers the Goblin Gold Spins, where silver coins grant extra spins and gold coins increase the global multiplier. As players collect more coins, low-paying symbols are removed, paving the way for higher wins and an electric build-up toward the maximum payout of 5,000x the bet.
“Goblin Brew has all the ingredients for a fun, rewarding slot,” said Thomas Nimstad, CEO of Million Games. “It’s visually rich, mechanically engaging, and delivers a player experience that balances excitement with accessibility. Yugo Workshop has done a fantastic job of capturing that perfect mix.”
With a 96.11% RTP and medium volatility, Goblin Brew offers approachable yet high-value gameplay that fits perfectly into modern casino portfolios.
Goblin Brew is now available to all Million Games partners and integrated operators worldwide.
The post Million Games Launches Goblin Brew – A Wild Night of Free Spins and Fortune appeared first on European Gaming Industry News.
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A large-scale $1 billion online casino shady scheme involving Ukrainian fraudsters Vadim Gordievsky and Alyona Suvorova has been discovered in Kazakhstan.
The Kazakhstan Financial Monitoring Agency has revealed a large-scale shady scheme with a whole layer of cross-border transfers. While referring to the press service of the Agency, Elordainfo.kz informs that numerous bank employees and 120 people from several countries were involved in the operation of the shady scheme.
The money was sent to various payment organizations, disguised as legal transactions, and was later withdrawn to numerous online casinos.
At the same time, local authorities managed to eliminate the call center, which employed foreigners, which provided technical support for four online casinos as well as advice on money transactions. In addition, the organizers of the call center created a gambling partnership program that was used to accept payments and withdraw them in cryptocurrencies. The overall turnover exceeded 200 million USDT.
During the implementation of all these measures, over 70 searches were conducted. As a result of these activities, local authorities managed to gather physical evidence as well as to detain nine suspects.
According to law enforcement authorities in Kazakhstan, the key organizer of the shady miscoding scheme is Ukrainian Vadim Ivanovich Gordievsky, born in 1974. He led this organized crime group and used the local Marginplus company for these purposes (marginplus.kz). In addition to companies from Kazakhstan, Gordievsky also worked with illegal Russian online casinos while helping them to facilitate payments.
Already in 2008, Vadim Gordievsky served as deputy head of the Boryspil Regional State Administration and was in charge of land issues. Under Gordievsky, various lands of Boryspil were sold while the money was stolen. In the same 2008, he was dismissed from his position with a huge scandal, but his case never resulted in criminal proceedings. A lot of money and connections in government offices helped him avoid accountability.
In 2012, when Viktor Yanukovych came to power, Vadim Gordievsky took the chair of the head of the highway service in the Odessa region, where he managed to get access to millions of dollars, which he later invested in FC Alta Capital.
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.
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According to investigators, Gordievsky’s partner, Mikhail Kovalev (Mykhaylo Kovalov), who has a number of companies in the EU, in particular, in Poland and a residence permit in Spain, was closely working with Gordievsky. By using numerous fictitious companies in Poland, in particular, STABLEX SOLUTION Sp. z o. o (solvexs.pl) he engaged in illegal payments and cash withdrawal in cryptocurrencies.
His partner, who is also his former Kyivstar employee, Alyona (Olena) Suvorova (born in 1983), who left Ukraine for Moscow after February 2022, and Ukrainian IT specialist Denis Andreevich Rykov (born in 1990), who currently lives in St. Petersburg, also participated in the shady scheme of illegal bookmakers and dubious payments.
Judging by her social media accounts, Alyona Suvorova is currently positioning herself “as an entrepreneur, investor, and 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.
The law enforcement agencies of Kazakhstan are asking for information about the location and data of all these people. In the near future, Vadim Gordievsky, Alyona Suvorova, and other defendants will be put on the international wanted list. According to local laws, they face up to nine years in prison.
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