MelcoLot records narrowed loss in 17H1

Lottery provider MelcoLot reported a narrowed loss of HK$6.3 million for the six month period ended June 30, attributed to a decrease in employee benefits costs.

The group, which is engaged in the provision of lottery-related technologies and solutions to China’s lottery market saw total revenue decrease 70 percent in the six month period to HK$10.1 million.

Revenues from the sales of lottery terminals and parts reached HK$9.6 million in the half year, representing a year-on-year decrease of 71 percent as result of market fluctuations and increased competition.

The provision of services and solutions for the distribution of lottery products fell 25 percent to HK$0.5 million.

In June, sports lottery provider 500.com Ltd completed the acquisition of a 40.65 percent stake in MelcoLot Ltd.