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Beijing court backs China LotSynergy in Welfare VLT contract dispute

16th August 2018 7:28 am GMT

Hong Kong-listed China LotSynergy Holdings has been awarded RMB1.36bn (€173.5m) by a court in Beijing for the continued use of its video lottery terminals by the Welfare Lottery more than three years after the contract expired.

The People’s High Court of Beijing ruled that China LotSynergy must be compensated by the government-authorised Welfare Lottery operator Beijing China Lottery Online Technology Company (CLO).

CLO had initially entered into a cooperation agreement with China LotSynergy’s subsidiary Dongguan Tianyi Electronics Company [...]

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