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AGTech Holdings Announces its 2019 Annual Results

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AGTech Holdings Announces its 2019 Annual Results
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AGTech Holdings has announced its annual results for 2019. The total revenue amounted to approximately HK$175.1 million, an increase of 3.9% over 2018. The main sources of revenue were lottery hardware, lottery games and systems, provision of lottery distribution and ancillary services, games and entertainment business in the PRC.

The revenue hike was primarily due to the increase in revenue from the lottery games and increase in sales from lottery hardware.

Operating loss for the year was approximately HK$194.9 million (2018: approximately HK$262.0 million), representing a decrease of approximately 25.6% over 2018.

The loss for the year under review was approximately HK$113.6 million (2018: profit of approximately HK$317.1 million). The change from profit to loss for the year was mainly attributable to several non-cash and non-operating items relating to the fair value changes of the Convertible Bonds and the contingent consideration payables under the Score Value Transaction.

John Sun, Chairman and Chief Executive Officer of AGTech, said:

“In 2019, our overall business continues to evolve and transform, both domestically and on the international front, to deliver a more sustainable and commercially viable business model. In a year which saw sales in the Chinese lottery sector decrease by approximately 17.5% compared to last year, the group stands strong and continues to work responsibly according to regulatory requirements, and at the same time explore on innovative measures towards development of the industry. As witnessed by our blockchain application project and augmented reality (AR) driven marketing campaign throughout 2019, we continue to lay the necessary foundation for our team, systems, technology and infrastructure to be well positioned towards our digitalization initiatives.”

“Our hardware division continues to bring innovative products to the market and maintain our position as a leading lottery hardware supplier. As we enter the era of 5G and the Internet of Things, our goal to implement and utilize smart technology applications to more retail shops under the Alibaba Group’s network will continue. The Group would like to congratulate Jiangsu province’s e-Ball Lottery in reaching RMB10 billion in total sales since its initial launch in 2013. This is a remarkable achievement, and we will continue to work closely with the provincial team to ensure smooth operations and promote responsible lottery to the community.”

“We anticipate to roll out our full suite of lottery solutions, including our SaaS (Software-as-a-Service) lottery delivery platform, a fully integrated digital platform that is tailored to serve both business and customers to refine on user experience on all fronts. Aligning to the Alibaba Group’s overriding new retail initiative, our platform will further enhance synergy by integrating hardware, software, and data to open up distribution channels, in addition to a potential new commercial model.”

“Paytm First Games (formerly known as Gamepind), our mobile gaming joint venture in India, will remain to be a key focus and driver for AGTech on the international front. In view of the success of our fantasy sport products in 2019, we will continue to serve as technical service provider to Paytm First Games’ sporting content. Supporting and grooming the platform to become a market leader in India has always been a mission to the Group. Our games and entertainment division will continue to develop and roll out engagement games for commercialization, and will also look for expansion opportunities in other selected international markets as well.”

 

Source: agtech.com

Asia

Meet BetConstruct at G2E Asia in Singapore

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Meet BetConstruct at G2E Asia in Singapore
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BetConstruct is set to turn some heads with its cutting-edge products and solutions at the upcoming G2E Asia being held May 30 – June 1, in Singapore.

G2E Asia is one of the premier events in the iGaming market for major stakeholders and players to explore the latest trends, innovations, and business opportunities in the Asian gaming sector. The event will centre around networking, knowledge sharing, and collaboration opportunities for key executives in the industry.
BetConstruct will use this medium to unveil its latest advancements in gaming technology and bring its extensive portfolio of cutting-edge products and solutions, aimed at revolutionising the gaming experience.

The main highlights of the event include the groundbreaking Fastex ecosystem with innovative ftNFT terminals and Esports-focused Sportsbook solutions. The ftNFT terminal is a state-of-the-art solution allowing visitors to buy and sell NFTs right from the spot. Additionally, with the Esports industry experiencing immense growth, BetConstruct’s sports betting solution provides operators dynamic and engaging Esports betting experience with its live streaming capabilities, real-time odds and extensive market coverage.

Visitors can also explore BetConstruct’s land-based offerings at its dedicated corner, as well as learn more about FeedConstruct products and how to implement them in their business.

BetConstruct will showcase its vast catalogue of offerings at stand B1307 in Marina Bay Sands from May 30 to June 1. All visitors are welcome to join one of the biggest iGaming events in the area and engage in the pool of possibilities.

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Asia

MOGO Executes Definitive Agreement with Nils Lahr and OrionsWave to Acquire Social Challenge Engine and Platform Technology

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Mobile Global Esports Incorporated (MOGO) (NASDAQ:MGAM), the mobile eSports and social platform company driving collegiate eSports tournaments, team development and data services in India, today announced that the company has executed the definitive agreement to acquire, implement and relaunch the social challenge technology developed by Nils Lahr and OrionsWave LLC.

“I’m thrilled about the prospect of bringing specific social stories to life,” the founder and Chief Executive Officer for OrionsWave LLC, Nils Lahr, said. “Unlike the ad-hoc nature of Instagram or the instant gratification of TikTok, our original app, which was number-one on the app store before these platforms emerged, catered to a unique category that is still unaddressed in the market. Our aim is to add more value to social connections and infuse more fun into viral calls to action. With the advancements in technology and user experience, we’re poised to bring a fresh and exciting perspective to the market.”

“Moving forward with OrionsWave’s social challenge technology provides the robust technological backbone required for building out the capabilities, value and offering of our MOGO social platform,” the Chief Executive Officer for Mobile Global Esports Incorporated, Dave Pross, said. “We’re looking forward to working closely with Nils and his team to drive gamer engagement through offering users the ability to create challenges with which to motivate player and team unity and competitiveness.”

Lahr, an esteemed American entrepreneur and computer scientist, has made significant strides in the digital media and artificial intelligence (AI) industries. As the founder and Chief Executive Officer for OrionsWave, LLC, he has guided early-stage companies to success including Orions Systems Incorporated and Synergy Sports. His tenure as Reality Chief Technology Officer at Microsoft showcased his expertise in AI scalability. Holding over eight key patents in machine learning and AI, his innovative approach led to Microsoft’s acquisition of Orions Systems Incorporated in 2020.

Lahr also co-founded Synergy Sports Technology LLC, a global leader in sports analytics, which recently had its IPO. His Emmy-award-winning work in streaming media has significantly influenced the digital transition of major corporations. Terms of the agreement were not disclosed.

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Asia

Trinity Gaming India Signs Deal with Everdome to Build Web3 Adoption in India

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Trinity Gaming India and EmChain to earmark land on virtual Mars to content creators, eSports organizations, brands and companies

Trinity Gaming India, a gaming content and marketing company with access to over 40 million gamers, has partnered with Everdome, a leading hyper-realistic metaverse giant, to build the first virtual Mars community.

The company aims to develop and accelerate the Indian gaming community to transition from Web2 to Web3. With this partnership, Trinity Gaming will activate the Indian gaming community towards the metaverse phase.

Trinity Gaming India will gain access to real estate on the virtual Mars and allocate space to content creators, eSports organizations, brands and companies. This will enable trade of the virtual assets and create more freedom in the play-to-earn (P2E), Web3, Crypto and NFT gaming sectors to boost their immersive experiences.

Trinity Gaming India has collaborated with blockchain-based firm EmChain FZE towards this partnership. As part of the deal, Trinity Gaming India and EmChain will train, mentor and provide revenue streams for approximately 40 million captive gamers and creators in the web3 and blockchain sector.

Emchain will ensure the development and mentorship of the content creators to help them pick pace with the technical framework of the global gaming community. The content creators will be able to engage with their audience on a deeper level, attach and grow their brand within a premium quality metaverse setting, leverage the upcoming marketplace as a location for any in-world transaction or simply create a virtual home.

Launched at the beginning of 2022, Everdome has swiftly built a community of over 500,000 supporters and circa 90,000+ unique wallets holding $DOME, the utility token, along with a series of digital land auctions with 98% sell-out and ten significant partnerships that concluded with an excellent trust score of 90/100.

“The Indian gaming community in the Web3 environment is expanding in leaps and bounds,” the founder and Chief Operating Officer for Trinity Gaming India, Shivam Rao (pictured), said. “This development will provide Indian gaming content creators with a first-of-its-kind opportunity. Under the aegis of Emchain and Everdome’s expertise, we at Trinity Gaming India strive to equip Indian game developers with globally-recognized technical know-how to create a truly immersive gaming experience.”

“Everdome is all about making extraordinary metaverse experiences more widely accessible,” the Chief Growth Officer for Everdome, Artur Kaczmarczyk, said. “Our partnership with Emchain and its network of content creators helps us in our mission to reach new audiences with our metaverse experience, not just in terms of a South Asian and Indian audience, but also a brand-new direct engagement with a thriving gaming community. I am delighted to join forces with Emchain as Everdome takes another step towards our goal of building a thriving, truly worldwide community of metaverse explorers.”

“Metaverse and the gaming industry are a perfect match,” the Chief Executive Officer for Emchain, Towqeer Gilkar, said. “The metaverse provides a new level of interactivity, community building and earning potential for gamers. At one go, it offers the game developers a new platform to create and release more immersive and exciting games. The future of gaming is in the metaverse and the possibilities are endless.”

In this hyper-realistic metaverse, the content creators can use their land to build virtual boot camps. These can be a replica of their existing boot camp or something with their imagination that is impossible in real life. They can have streaming rooms, play areas, lounges, display areas, an art gallery, a common area, a theatre/screening room, production studios and so on inside the boot camp. They will invite their fans/other gaming creators and create content.

Monetization will be done through:

* Ticketing to enter the metaverse

* Buying creators NFT

* Brand collaborations in virtual space

* Playing games with fans

* Watching movies in virtual space

* Content shoots in the metaverse

* Playing eSports

* Content IPs

* Fan meet-ups

Trinity Gaming India is confident about the initiative that will shoot development and acceleration to help the Indian gaming community to transition from Web2 to Web3. It will help Trinity Gaming India to activate the Indian gaming community towards the metaverse phase.

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