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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

NODWIN GAMING BRINGS THE EXCLUSIVE HINDI BROADCAST OF APAC LAST CHANCE QUALIFIERS

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NODWIN GAMING BRINGS THE EXCLUSIVE HINDI BROADCAST OF APAC LAST CHANCE QUALIFIERS
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The Hindi broadcast will run on Nodwin Gaming YT channel from 11-17 October

South Asia’s Leading esports company NODWIN Gaming is all set to do the exclusive Hindi broadcast of the Asia Pacific Last Chance Qualifiers dated from 11-17 October on Nodwin’s official Youtube channel.

The APAC LCQ will play the best teams from Korea, Japan, China, Southeast Asia and South Asia in the penultimate qualifiers for the Valorant Champions Tour. The South Asia region saw an open door to the APAC LCQ through the Valorant Conquerors Championship by Nodwin Gaming that earned the winner a slot in the qualifiers for VCT. Indian team Global Esports emerged victorious and advanced to the APAC LCQ.

For the first time in PC esports history, South Asia witnessed a total peak viewership of 60K and garnered 6 million views for the whole tournament. Out of which 76.6% was for the Hindi broadcast alone. The hype and the reception for the India qualifiers and the Grand Finals were phenomenal considering the number of people tuning in to watch the matches. The Grand Finals of VCC happened to be El-Classico, the synonym for the greatest rivalry in the Indian Valorant circuit between Global Esports and Velocity Gaming. The tournament ended with Global Esports winning 3-2 in a nailbiter. From losing India Qualifier #1 to winning the title, GE won hearts and praises from all around the world. We will get to see them competing in APAC LCQ for a slot in VCT.

“APAC LCQ is taking the finest team forward and we can’t wait to see how the competition pans out. After giving a great reception for VCC, I’m sure the fans will be eager to watch the LCQ as well and what could have been better than a dedicated Hindi broadcast by Nodwin itself. Let’s make our presence felt. All the best to the lads at Global Esports, make us proud”, said Akshat Rathee, MD & Co-Founder, NODWIN Gaming.

“LCQ broadcast in Hindi is a great way to bring our community together to cheer for Global Esports, and when you have the entire region rooting for you, anything is possible! Personally, I am a big fan of Global Esport’s journey so far and I will definitely be rooting for them on the Hindi broadcast on Nodwin Gaming’s channel. Do drop by to send some luck to the boys. All excited to see some Skrossi supremacy”, said Sukamal Pegu, Publishing Leader, India & South Asia, Riot Games

The hype created from the Valorant Conquerors Championship by NODWIN Gaming solidified the region’s presence in the global map of Valorant esports and its journey in the VCT.

The exclusive Hindi broadcast is aimed at bringing a local flavour to great competition for the ardent lovers of the game and the tournament in India.

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Asia

Sands China, BOC Macau to Launch Co-branded UnionPay Credit Card

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Sands China and the Bank of China Macau Branch have unveiled plans to issue a co-branded UnionPay credit card for Macau residents next month.

According to Sands China, the cooperation is in line with the initiative of “jointly promoting connections between electronic payment systems in the Greater Bay Area” as proposed in the Outline Development Plan for Guangdong-Hong Kong-Macao Greater Bay Area, and the newly released general plan for building a Guangdong-Macao in-depth cooperation zone in Hengqin.

It also seeks to enhance payment convenience while supporting the recovery of the tourism industry.

“Through the collaboration, the two parties will leverage their respective strengths to provide the public with better and more convenient leisure, entertainment and payment experiences,” Sands China said.

The cooperation was formalised at a signing ceremony on Tuesday, attended by Dave Sun, Senior VP and CFO of Sands China Ltd, and Chan Hio Peng, Deputy General Manager of Bank of China Macau Branch.

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Asia

iSoftBet signs aggregation deal with Mikadogames

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iSoftBet signs aggregation deal with Mikadogames
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iSoftBet, the leading online games supplier and content aggregator, has agreed an aggregation partnership with Japanese arcade-style slots provider, Mikadogames.

Offering an alternative to narrative-rich gameplay since it was founded in 2017, Mikadogames creates innovative games and animations inspired by Japanese anime cartoons.

The deal will see a selection of Mikadogames’ GLI certified games added to iSoftBet’s aggregation offering, including the provider’s skill-based sports titles such as The Penalty Kid and Darts Roulette and its fruit machine-inspired Pachinko slots.

Active in 20 regulated global markets, iSoftBet asserts its reputation as an industry leading supplier by providing some of the biggest operators with top performing casino games and the quickest route to market via its aggregation platform, engagement tools and services.

Denisa Csepregi, Commercial Aggregation Manager at iSoftBet, said: “We are always scanning the market for up-and-coming providers that employ unique approaches in game design, and Mikadogames do just that.

“The addition of their exclusive content to our aggregation offering is the first step in what we hope will be a great relationship with even more unique content to come.”

Keiko Tsunego, IT Manager at Mikadogames, said: “iSoftBet’s distinguished aggregation platform adds considerable value to the brand’s name and to our subsequent partnership. We are very satisfied with the agreement and look forward to seeing how our relationship materialises in the months ahead.”

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