AGTech wins lottery hardware bids in five Chinese provinces
AGTech Holdings, through its wholly-owned subsidiary, Beijing AGtech GOT Technology, has won the sports lottery terminal procurement bidding projects in Anhui, Shanxi, Jilin, Hubei, and Guizhou.
The supplier will provide traditional sales terminals for sports lottery in Jilin and Hubei, and Android terminals for sports lottery in Anhui, Shanxi and Guizhou.
The procurement of lottery terminals in China has recently resumed, following a standstill in the first four months of 2020 as a result of novel coronavirus (Covid-19).
AGTech GOT won successive bids for the provinces in each of the first batch of bidding projects.
Lottery sales in China have been heavily impacted by the novel Coronavirus (Covid-19) pandemic, with a 40-day suspension in sales earlier this year contributing to a decline of 32.2% in AGT’s revenue in Q1.
As sales were suspended in most provinces between January and March, February saw Chinese lottery revenue effectively wiped out, generating just CNY1.3m (£149,825/€171,640/$186,640) for the month.
March saw the sector begin to recover with CNY10.51bn (£1.20bn/€1.37bn/$1.49bn) in sales, though this still represented a decline of 69.9% year-on-year.
Sales were still down 35% in April, but a 17.7% fall in May represented the slowest year-on-year decline reported by China’s Ministry of Finance since the pandemic began.