Lottery solutions providers 500.com and Loto Interactive have entered into a framework agreement with Shenzhen General Lottery Technology (Shenzhen GenLot) for the supply of sports lottery terminals in China.

Shenzhen GenLot will provide its approved sports lottery terminals to E-sun Sky and Loto Shenzhen, wholly owned subsidiaries of 500.com and Loto Interactive, for onward sales and distribution throughout the country.

The agreement will see the companies acquire up to 10,000 terminals in total, pursuant to separately executed purchase agreements.

Shenzhen GenLot, which is a subsidiary of Shenzhen-listed Telling Telecommunications Holding, will also provide maintenance services during the five-year contract which ends in May 2023.

The purchasers have already placed an order to purchase 1,000 units of lottery terminals so far.

Shares in 500.com Ltd (NSQ:500) closed down 9.83 per cent at USD$18.72 per share in New York Tuesday , while shares in Loto Interactive LTD (HKG:8198) closed down 2.00 per cent at HK$0.196 in Hong Kong earlier Wednesday.

 

Related

GIQ Magazine