AGTech secures 60 percent of sports lottery market share

Beijing AGTech Technology Co. Ltd, a subsidiary of AGTech has announced it has secured more than 60 percent of market share in the supply of China Sports Lottery Terminals.

In a filing to the Hong Kong Stock Exchange on Tuesday, the company said it has successful tenders to supply in aggregate 8,800 of its latest Sports Lottery Terminals to nine provinces as at June 6, 2016.

AGtech is one of China’s first virtual sports betting system and game providers and one of the largest sports lottery terminal manufacturer / supplier in China.

The Group is principally engaged in gaming technologies, online and mobile lottery and lottery management.

Last month, AGTech announced that loss after tax decreased approximately 62.1 percent for the three month period ended March 31, 2016.

The loss for 16Q1 was HK$14.4 million, down from HK$38 million in 15Q1.

Total revenue of the group in 16Q1 was HK$19.5 million, down from HK$48.5 million in 2015.

AGTech said most of this revenue came from lottery games and systems, hardware, distribution and ancillary services in the PRC.