Rexlot expects loss for 2016

Lottery system provider Rexlot Holdings Ltd. says it expects to record a net loss for the year ended Dec. 31, 2016, down from a net profit recorded in 2015.

“The… expected loss … is primarily attributable to (i) the impairment loss on goodwill and other provisions related to the group’s operating units engaged in lottery distribution business; and (ii) the impairment loss on goodwill and intangible assets included in the interests in joint ventures due to the continuing slowing down of the scratch card market in China,” said the company in a filing on Monday to the Hong Kong Stock Exchange.

The annual results of the group for the year ended 31 December 2016 will be announced at the end of the month.