China LotSynergy H1 profit jumps, announces Sports Lottery contract

    China LotSynergy said its first-half profit jumped by 35.2 percent, fueled by China’s booming lottery sales.
    Profit attributable to owners of the company for the first half was HK$54.9 million ($7 million). Turnover jumped 34.8 percent to HK$460.5 million.
    “In the first half of 2014, favourable policy measures, coupled with the effects of the 2014
    World Cup, led to new highs in national lottery sales,” the company said in a Hong Kong Stock Exchange filing. “China’s lottery sector has undergone over twenty years of booming growth, and with the advent of the internet age, is currently facing unprecedented opportunities and transformations.”
    Video Lottery Terminal sales amounted to RMB17.637 billion ($2.8 billion), up 28.5 percent.
    The company also announced that its that Lottnal unit has won a bid to supply Sports Lottery terminals to the Zhejiang Sports Lottery Administration Centre, its second win in the province.
    Total Sports Lottery sales in Zhejiang province exceeded RMB 7 billion for the first time in 2012, broke through the RMB 8 billion mark in 2013, and reached RMB 4.93 billion in the first half of 2014.
    The contract award was the second announced in two days by the company. On Monday, it said its Guangzhou San Huan Yong Xin Technology unit has won a joint bid for the Shanghai Welfare Lottery New Sales and Management System and Technical Services Project with Beijing Bestinfo Cyber Technology Co.