China's AGTech Holdings has reported a 65 per cent decline in revenue to HK$22.4m for the third quarter of 2013, as the company continues its transition to a gaming technology services focused business.

AGTech said that the decline in revenue was expected and attributable to the expiry of certain contracts in the company’s Lottery Management division and year-on-year variation in the timing of order delivery in its hardware business.

“The group is in the process of transitioning from the legacy, lower-growth Lottery Management business to its high growth Gaming Technology business,” said AGTech in a statement.

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