Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)
728x90 banner available here

Latest News

AGTech Announces Interim Results For The Six Months Ended June 30, 2020

Published

on

AGTech Announces Interim Results For The Six Months Ended June 30, 2020
AGTech Announces Interim Results For The Six Months Ended June 30, 2020Reading Time: 3 minutes

 

AGTech Holdings Limited, a leading integrated lottery, games and entertainment technology company in China, announced the interim results for the six months ended June 30, 2020.

According to MOF figures, during the Six-Month Period, lottery market recorded sales of approximately RMB123.9 billion, a decrease of approximately 41.7% compared to the corresponding period in 2019. Other than the closure of national lottery market during Chinese Lunar New Year, the drop in sales was mainly due to the impact of Novel Coronavirus (“COVID-19”) outbreak while the business hours of lottery sales outlets were significantly reduced. Lottery sales activities have since resumed in March 2020, and the Group will continue to closely monitor the latest development and recovery post pandemic.

AGTech’s Hardware division primarily supplies the Sports Lottery and the Welfare Lottery and has hardware deployed in multiple provinces, cities, municipalities and autonomous regions across China. During the Six-Month Period under review, the Group won five lottery hardware tenders to supply lottery terminals to the SLACs in Anhui province, Shanxi province, Jilin province, Hubei province and Guizhou province of the PRC. The Group will continue to pursue tenders to supply to the lottery and other hardware market and bid for new contracts after resumption of tenders post COVID-19 delays.

Transition to new retail models presents a great opportunity for the further development of the Group’s hardware business. Many of the hardware supplies required under such new retail concept share similar technology and components that underlie the lottery hardware products supplied by the Group throughout the years. We believe our hardware division continues to be well positioned to take advantage of such opportunities in the foreseeable future.

The Group continues to operate the lottery channel on mobile Taobao and mobile Alipay to serve as a one-stop platform on lottery related information for existing and potential customers. With the recent addition of sporting content and sports intelligence services to our lottery channel, we expect to roll out further engagement features and tools to improve user experience and engagement.

From a lottery products point of view, we have identified instant scratch lottery games to be an important product initiative for the coming year, as we will be dedicating resources to open up this market within the lottery sector.

FINANCIAL HIGHLIGHTS

Revenue of the Group for the Six-Month Period amounted to approximately HK$43.9 million, representing a decrease of approximately 8.0% over the corresponding period in 2019. 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 Six-Month Period was primarily caused by the decrease in sales of lottery hardware of approximately HK$6.6 million and decrease of approximately HK$1.0 million in revenue from games and entertainment division, partially offset by an increase of approximately HK$4.6 million from the lottery games and systems.
The decrease in revenue from hardware business was due to slower tendering processes and hardware deliveries in several provinces as compared to the corresponding period in 2019 as a result of the COVID-19 pandemic.The increase in revenue from the lottery games and systems was caused by the increase in sales volume from the virtual sports lottery games in the second quarter of 2020 after the reopening of PRC lottery market.
Operating loss for the Six-Month Period was approximately HK$105.6 million, representing a decrease of approximately 12.1% over the corresponding period in 2019.
About AGTech Holdings Limited

AGTech was incorporated in Bermuda and its shares are listed on the GEM (Stock Code: 08279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 340 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Group.

AGTech’s businesses are broadly divided into two categories:

Lottery (including hardware, games and systems, provision of distribution and ancillary services); and
Games and Entertainment.
AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), and an official partner of the International Mind Sports Association (IMSA).

Source: AGTech Holdings Limited


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 Announces Interim Results For The Six Months Ended June 30, 2020

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.

Latest News

Oddsgate launches 2025 trend guide for the iGaming market

Published

on

Reading Time: < 1 minute

The post Oddsgate launches 2025 trend guide for the iGaming market appeared first on European Gaming Industry News.

Continue Reading

Latest News

Quick Custom Intelligence and Modulus Celebrate Success at ICE

Published

on

Reading Time: 2 minutes

 

Quick Custom Intelligence (QCI), a leading provider of cutting-edge business intelligence solutions for the casino industry, and Modulus, an innovator in advanced gaming system technology, are pleased to announce a successful showcase at the International Casino Expo (ICE).

Throughout the event, both companies met with dozens of current customers and new prospects, demonstrating the latest in AI technology and data-driven business intelligence tools.

By joining forces in the Modulus booth, QCI and Modulus underscored the synergy of their combined technologies, generating excitement among attendees. The live demos highlighted how these next-generation solutions can empower casinos to make data-driven decisions, enhance customer engagement, and streamline operations.

“The energy at this year’s ICE was truly inspiring,” said Marc Attal, COO of Modulus. “Our newest technology received an exceptional response, and our digitalization strategy for slots and tables resonated deeply with clients who clearly saw the benefits of optimization it brings. Showcasing QCI’s solutions in our booth amplified our message and created an immersive experience that highlighted the potential of the cutting-edge AGI55 platform. The excitement and enthusiasm from both existing and prospective clients made this one of our most successful shows yet, reaffirming our commitment to innovation and excellence.”

“It was fantastic to be part of the show,” remarked Andrew Cardno, CTO of QCI. “Meeting so many new customers and prospects has sparked a sense of excitement and optimism for what lies ahead for QCI in the global casino market. We are grateful to Modulus for the opportunity to partner in showcasing how our integrated solutions can help casinos operate more efficiently and profitably.”

Both companies look forward to expanding their footprint in international gaming markets, fueled by the success and enthusiasm generated at ICE. QCI and Modulus remain committed to developing innovative technologies that drive real-world results for casino operators everywhere.

 

The post Quick Custom Intelligence and Modulus Celebrate Success at ICE appeared first on European Gaming Industry News.

Continue Reading

Latest News

TEAM VITALITY PRESENTS ITS NEW ROSTER VALORANT THROUGH THE LEGACY CAMPAIGN

Published

on

Reading Time: 4 minutes

 

  • After achieving an exceptional end to the 2023-2024 season, Team Vitality returns with strong European and International ambitions.
  • Since the start of the season, two superstars have joined the ranks of the Team Vitality roster: Derke and Less, alongside Sayf (IGL), Kicks and Trexx. The club’s new ambassador: Ardiis, will cast their matches all year round. With this team, the goal is simple but audacious: lay the foundations for a new legacy, make history on this new stage and qualify for the VALORANT Champions.
  • Thus, Team Vitality is preparing to write a brand new FPS game story supported by the LEGACY campaign. And its first Ice & Fire chapter begins today!

Team Vitality proudly presents its VALORANT roster for the 2025 season. After securing a second European place and qualification for the VALORANT Champions 2024 at the end of last season, the team will endeavour to maintain its high standards and continue to shine on the European (VCT) and international scene. The first key meeting for this team is at the VALORANT Bangkok Masters 2025 on February 27th.

With a combination of youth, talent and experience, Team Vitality is proud to welcome two new international talents to the roster, with an already established track record in the game: Finnish-Russian Derke, the Brazilian powerhouse Less, and a new coaching staff.

A FIVE STAR ROSTER TO CONQUER THE WORLD

Team Vitality returns more determined than ever to the VALORANT scene. With two new players joining Kicks, trexx and Sayf (IGL and Team Captain), hoping to win a VCT title. In addition to this brand new roster, Team Vitality also integrates a new experienced coaching staff with the arrival of Faded.

New players and coaching staff

  • Nikita “Derke” Sirmation (Finnish-Russian) – 21 years old: Former Counter-Strike player who switched to VALORANT. Considered one of the top three duelists of all time, Derke is known for his exceptional skills and decisive impact during matches and dominated the VCT:2023 LOCK//IN and the VCT Masters Tokyo in the same year – a feat never achieved before. With his international experience, Derke is ready to bring his strategic vision and talent to the team.
  • Felipe “Less” Basso (Brazilian) – 19 years old: A true VALORANT prodigy, Less quickly gained attention with his excellent mechanics and superhuman reflexes. At the age of 17, he won the VALORANT Champions in 2022 and the VCT Americas League in 2023 and is considered one of the best players in his role as Sentinel.
  • Daniel “Faded” Hwang (American) – 30 years as Head Coach: Faded has already coached within the TSM organisation and qualified for Ascension Finals in Mexico – all in his first year as a head coach! He has proven himself capable of developing talent and achieving exceptional results.

The new 2025 roster now stands as:

  • Kimmie “Kicks” Lassner
  • Saif “Sayf” Jibraeel (IGL)
  • Nikita “trexx” Cherednichenko
  • Nikita “Derke” Sirmitev
  • Felipe “Less” Basso

For this new season, the talented Sayf has taken on the key role of IGL within the team. Elected duelist of the 2024 season in VCT, Sayf will have the important task of leading his team to victory.

With the arrival of two additional superstars to the team, Team Vitality sends a strong message: VALORANT is a priority for the club. While the VALORANT Champions will take place in Paris, the club’s homeland, Team Vitality hopes to make an impression at home.

“VALORANT is a vital scene for us. We were keen to strengthen the existing team with even more experienced profiles as we seek performance and aim for excellence. And this season is special: we hope to be able to defend our chances of victory at home, in Paris.” explains Fabien “Neo” Devide, President and co-founder of Team Vitality.

LEGACY CAMPAIGN: AN ICE & FIRE ROSTER [CHAPTER 1]

Team Vitality is embarking on this new season with a clear and unwavering ambition: to write a new legacy on a key FPS game and shine at the VALORANT Paris Champions. To support this, Team Vitality is launching LEGACY, a campaign that will follow the team in three key chapters until the Champions next September.

https://x.com/TeamVitalityVAL/status/1879931306143887621

The first chapter of this campaign begins at the Bangkok Masters on February 27th and will notably feature the two new stars of the team. The campaign will play on the elements of the roster: Derke, a Finnish player, known for his exemplary composure, embodies serenity and concentration. Less, a Brazilian player, with an explosive style of play, flamboyant actions and an energy capable of igniting his teammates. Together, they symbolise a complementarity of qualities essential for the roster’s goal of reaching the top.

VCT BUNDLE VITALITY: PLAY LIKE LESS OR DERKE!

Team Vitality is proud to announce that its official VCT bundle is now available for purchase via the in-game shop. These exclusive bundles embody the club’s unique identity and allow fans to proudly wear Hive’s colours, while supporting the team in its quest for glory on the VALORANT scene.

Each piece has been carefully designed to reflect Team Vitality’s competitive spirit and boundless ambition.

https://x.com/TeamVitalityVAL/status/1876293118762315799

 

The post TEAM VITALITY PRESENTS ITS NEW ROSTER VALORANT THROUGH THE LEGACY CAMPAIGN appeared first on European Gaming Industry News.

Continue Reading

Trending

EEGaming.org is part of HIPTHER, parent brand of various prominent news outlets and international conferences. These platforms and events span a wide range of industries, including Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports, and several others. This indicates that EEGaming.org is part of a larger network that focuses on a diverse array of sectors, particularly those related to cutting-edge technology and modern lifestyle trends.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2025 HIPTHER. All Rights Reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.