Connect with us
NSoft

Latest News

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

Published

on

6-16 AGTech Announces Interim Results For The Six Months Ended June 30, 2020
6-16-1 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

Yokohama Mayor Fumiko Hayashi Rules Out Referendum on IR

Published

on

3-15 Yokohama Mayor Fumiko Hayashi Rules Out Referendum on IR
3-15-1 Yokohama Mayor Fumiko Hayashi Rules Out Referendum on IRReading Time: < 1 minute

 

Yokohama Mayor Fumiko Hayashi has ruled out a referendum on IR. She said her administration will continue to work alongside the national government to develop the prefecture’s bid for an integrated resort despite opposition.

“IR is not something that should be decided by referendum. We are operating within the guidelines of the national government,” Hayashi said.

The comments were directed to the residents’ group, the Yokohama Citizens’ Group to Decide on a Casino, which has been gathering signatures since September 4 to demand a referendum on whether or not to continue with the IR plans.

Hayashi said that introducing IRs was a national government policy.

“There will be people for it and against it. We will continue with considerations based on the budget decisions of the city council, who represent the city’s residents,” she said.

Critics point out that when she was elected for her third term in the 2017 mayoral election, she had declared she was personally undecided on an IR bid.

“All of my policies are decided after discussions with the city council. I would never take action based on my own, personal decisions,” Hayashi said.


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: Yokohama Mayor Fumiko Hayashi Rules Out Referendum on IR

Continue Reading

Latest News

Tom Horn goes live with Videoslots

Published

on

thg_videoslots Tom Horn goes live with Videoslots
thg_videoslots-1 Tom Horn goes live with VideoslotsReading Time: < 1 minute

 

Gaming software supplier, Tom Horn Gaming has announced that one of the biggest online casino operators, Videoslots has gone live with their content in the UK and Sweden.

Videoslots’ players have gained access to provider’s top performer 243 Crystal Fruits, a recently released ‘reversed’ sequel 243 Crystal Fruits Reversed, as well as titles like Joker Reelz or Spinball.

Ondrej LapidesCEO at Tom Horn Gaming said: “Videoslots is one of the leading online casino brands and we’re delighted to see our games portfolio included in their casino offering. In accordance with our long-term development strategy, this is a crucial step, and we’re expecting to grow strong with Videoslosts in many markets going forward.”

William AhlbergHead of Casino at Videoslots added: “We always strive to make sure our players have access to a diverse collection of high-quality video slots. The partnership with Tom Horn will definitely help us achieve our growth objectives and our players can look forward to some rich and immersive gaming experience that is always guaranteed by the Tom Horn games.”


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: Tom Horn goes live with Videoslots

Continue Reading

Latest News

Leeds United Foundation Teams Up with YGAM

Published

on

2-19 Leeds United Foundation Teams Up with YGAM
2-19-1 Leeds United Foundation Teams Up with YGAMReading Time: 2 minutes

 

Leeds United Foundation has partnered with Young Gamers and Gamblers Education Trust (YGAM) to educate and safeguard young people from gaming and gambling-related harm.

The Education Team at the club’s official charity aims to help teach and inform young people, teachers and parents about the risks associated with gaming and gambling harms, to safeguard the next generation of football and sports fans.

“Gambling is often described as the hidden addiction and education is essential in preventing harm. People do not realise the correlation between gambling and other risky behaviours. It is vital that we raise awareness of gambling to try and bring it to the forefront and open those positive conversations. Sports foundations like Leeds United’s have a very positive, strong influence on young people, and they also have a huge influence within the local community,” Amy Bussey, YGAMs’ Education Manager for Yorkshire and Humber, said.

“If we can get sports involved in prevention and education, we can work with young people before harm occurs. It has been a pleasure working with their really engaging team members, who have strong links to education. They are already making moves to cover gambling harm with young people and clearly have a passion for educating and safeguarding young people,” Amy Bussey added.

“The workshop provided by Amy from YGAM was very informative and educational and we can’t thank them enough for their support. I was astonished at some of the statistics mentioned and particularly the information relating to the gaming industry. I would highly recommend this training to any schools, community groups or others who work with young minds. I am pleased that the Foundation now has the knowledge to help deal with these issues and support young people and their families in our local community,” Nigel Thewlis, Head of Secondary Education at the Leeds United Foundation, said.


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: Leeds United Foundation Teams Up with YGAM

Continue Reading

Trending

European Gaming Media and Events is a leading media and boutique event organizer in the European Union with a monthly reach of +50,000 readers. The official company (PROSHIRT SRL), has been listed for 4 years in a row among the top 3 Advertising and market research agencies in the local Top Business Romania Microcompanies based on the Financial Reports.

Contact us: sales@europeangaming.eu

Editorial / PR Submissions: editor@europeangaming.eu

Copyright © 2015 - 2020 European Gaming Media and Events. 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.