China LotSynergy Holdings has seen first half turnover slump by 81.5 per cent to HK$96.6m after being unable to recognise any revenue from its video lottery terminal (VLT) business.

The supplier had an exclusive contract to supply VLTs to the China Welfare Lottery (CWLC), but this long-running contract expired on June 28th, 2015.

China LotSynergy explained that it did not receive notification from the lottery regarding any suspension of Welfare VLT sales after the expiry of the supply contract, so it had decided to maintain the 41,500 terminals in 1,900 Welfare VLT halls in full operational condition for their continued use.

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