AGTech secures further terminal tenders in China

AGTech GOT will supply terminals in the Guangxi Zhuang Autonomous Region and Mongolia Autonomous Region of the People’s Republic of China, as well as in the Yunnan, Sichuan, Jiangsu, Hainan and Hubei provinces.

The latest tender wins expand AGTech GOT’s presence in the Chinese sports lottery terminal market, with the business having in place a wide range of similar deals.

These included agreements signed in January this year to supply technology and services in the Gansu, Zhejiang, Henan, Hebei and Jiangsu provinces, as well as the Shanghai and Tianjin municipalities.

“AGTech GOT has won many tenders in various provinces, municipalities and autonomous regions across China, which reaffirmed the hardware division’s continued dedication to and leading position in China’s sports lottery terminal market, demonstrating the continued effort and competitiveness of AGTech’s lottery terminals,” AGTech said.

In May, AGTech posted HK$35.3m in revenue for the first quarter of 2022, up by 70.2% year-on-year. AGTech attributed this to the increase in lottery hardware sales, lottery distribution and ancillary services and the provision of electronic payment services in Macau.

The growth in lottery revenue came as total lottery sales in China reached CNY86.27bn for the first three months of 2022, which is up 2.0% from the same period in 2021.

Lottery hardware sales rose by HK$9.4m, while lottery distribution and ancillary services revenue also rose by HK$4.7m.

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