AGTech reports profit for 2018

AGTech Holdings Limited, a Hong Kong based gaming service provider, has reported a a profit of approximately HK$317.1 million (US$40.4 million) in its 2018 financial results. The company was in a loss of HK$302.2 million same period last year.

Revenue of the group, however, was down 44.2 per cent year-on-year to approximately HK$168.6 million.

The main revenue contributions were from lottery hardware, lottery games, and systems, provision of distribution and ancillary services, games and entertainment business in the PRC.

The decrease in revenue was caused by an HK$86.0 million decrease in revenue from its games and entertainment division and a decrease in sales of lottery hardware of approximately HK$60.3 million.