Financial News

Chinese lottery supplier AGTech said that it has launched a number of strategic initiatives to introduce new types of lottery games in China, including a mobile lottery game and system, as it posted a 60 per cent drop in revenue to HK$19.5m for the first quarter of 2016.

The company said that the decline in revenue was mainly due to reduced sales of lottery hardware products during the period, noting that revenue in this business line typically exhibited an irregular pattern “since not only are sales not on a commission basis but also the customer base is concentrated and the timing of orders from customers can be variable.”

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