AGTech seals lottery terminal deal with parent Alibaba
Beijing GOT Technology, a subsidiary of AGTech, has entered into an agreement with its parent company Alibaba to supply equipment including point-of-sale terminals and facial recognition payment equipment to the the world's largest retailer and e-commerce company.
AGTech’s terminals are intended to complement Alibaba’s new retail strategy, in which digital and over-the-counter retail features are combined.
“The group believes that Alibaba Group’s ‘new retail’ initiatives present a great opportunity for the further development of the group’s lottery hardware business,” AGTech explained.
AGTech would also be able to expand its customer base by leveraging Alibaba's – the world's largest ecommerce business – huge reach, it added, with work already underway on developing ways to refine its lottery distribution models.
“The group has been collaborating with Alibaba Group’s retail ecosystem to enhance on lottery distribution models,” AGTech continued. “Through Alibaba Group’s physical new retail distribution channel and networks, supplying the relevant hardware products in relation to Alibaba Group’s new retail initiatives allows the group to bring lottery opportunities and resources to more customers, therefore presenting direct opportunities for the further development of the group’s domain expertise of lottery technology and services.”
AGTech was already established as a supplier of lottery hardware in China before it was snapped up by the ecommerce giant in March 2016.
This year, the AGTech group won the rights to apply lottery terminals for the Chinese Sports Lottery and Welfare Lottery in five Chinese provinces as well as the cities of Beijing and Tianjin. This follows on from 2018, when the group won 19 lottery hardware tenders.