Lottery supplier China Vanguard Group (CVG) has formed a new joint venture which will be used to better serve the Sports and Welfare lotteries and strengthen its foothold in the lucrative Chinese lottery market.
CVG has entered into the JV agreement with unnamed independent third parties through a wholly-owned subsidiary.
The JV will operate as Beijing Zhongmingan Investment Management Limited, with CVG holding a 51 per equity stake in the business through a capital injection of RMB7.2m.
CVG [...]
