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AGTech Announces Interim Results For The Six Months Ended June 30, 2020

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AGTech Wins Lottery Hardware Bids in Four Provinces and One Municipality of China
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AGTech Holdings Limited, a leading integrated lottery, games and entertainment technology company in China, announced the interim results for the six months ended June 30, 2020.

According to MOF figures, during the Six-Month Period, lottery market recorded sales of approximately RMB123.9 billion, a decrease of approximately 41.7% compared to the corresponding period in 2019. Other than the closure of national lottery market during Chinese Lunar New Year, the drop in sales was mainly due to the impact of Novel Coronavirus (“COVID-19”) outbreak while the business hours of lottery sales outlets were significantly reduced. Lottery sales activities have since resumed in March 2020, and the Group will continue to closely monitor the latest development and recovery post pandemic.

AGTech’s Hardware division primarily supplies the Sports Lottery and the Welfare Lottery and has hardware deployed in multiple provinces, cities, municipalities and autonomous regions across China. During the Six-Month Period under review, the Group won five lottery hardware tenders to supply lottery terminals to the SLACs in Anhui province, Shanxi province, Jilin province, Hubei province and Guizhou province of the PRC. The Group will continue to pursue tenders to supply to the lottery and other hardware market and bid for new contracts after resumption of tenders post COVID-19 delays.

Transition to new retail models presents a great opportunity for the further development of the Group’s hardware business. Many of the hardware supplies required under such new retail concept share similar technology and components that underlie the lottery hardware products supplied by the Group throughout the years. We believe our hardware division continues to be well positioned to take advantage of such opportunities in the foreseeable future.

The Group continues to operate the lottery channel on mobile Taobao and mobile Alipay to serve as a one-stop platform on lottery related information for existing and potential customers. With the recent addition of sporting content and sports intelligence services to our lottery channel, we expect to roll out further engagement features and tools to improve user experience and engagement.

From a lottery products point of view, we have identified instant scratch lottery games to be an important product initiative for the coming year, as we will be dedicating resources to open up this market within the lottery sector.

FINANCIAL HIGHLIGHTS

Revenue of the Group for the Six-Month Period amounted to approximately HK$43.9 million, representing a decrease of approximately 8.0% over the corresponding period in 2019. Revenue contributions were mainly derived from lottery hardware, lottery games and systems, provision of lottery distribution and ancillary services, games and entertainment business in the PRC.
The decrease in revenue for the Six-Month Period was primarily caused by the decrease in sales of lottery hardware of approximately HK$6.6 million and decrease of approximately HK$1.0 million in revenue from games and entertainment division, partially offset by an increase of approximately HK$4.6 million from the lottery games and systems.
The decrease in revenue from hardware business was due to slower tendering processes and hardware deliveries in several provinces as compared to the corresponding period in 2019 as a result of the COVID-19 pandemic.The increase in revenue from the lottery games and systems was caused by the increase in sales volume from the virtual sports lottery games in the second quarter of 2020 after the reopening of PRC lottery market.
Operating loss for the Six-Month Period was approximately HK$105.6 million, representing a decrease of approximately 12.1% over the corresponding period in 2019.
About AGTech Holdings Limited

AGTech was incorporated in Bermuda and its shares are listed on the GEM (Stock Code: 08279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 340 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Group.

AGTech’s businesses are broadly divided into two categories:

Lottery (including hardware, games and systems, provision of distribution and ancillary services); and
Games and Entertainment.
AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), and an official partner of the International Mind Sports Association (IMSA).

Source: AGTech Holdings Limited

Asia

MelBet Appoints Bollywood Actress Sherlyn Chopra as its New Brand Ambassador

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International iGaming company MelBet has appointed Sherlyn Chopra, one of India’s famous and glamorous actresses, as its new brand ambassador.

As a brand ambassador, Sherlyn would be involved in creating exclusive content and promoting MelBet in international markets.

Sherlyn Chopra is known for her significant success in the film and television industry. Her work, including her role in the psychological thriller, Red Swastik, made her popular in India. Sherlyn is actively involved in showbiz and continues to expand her horizons by doing popular web-series, music albums, short films, launching glamour and style apps and other creative projects.

“I am incredibly excited to become a part of the MelBet family. Sports are more than just games or competitions as they unequivocally bring people together. I am proud to contribute to its popularisation with such a reliable partner. MelBet is not just about gaming, casinos, or sports. It is about team spirit towards involvement in the games, followed by highs and lows which are inevitable in the pursuit of success and victory. MelBet is an experience that brings us closer as a community and in setting our goals and achieving them. I am looking forward to starting our collaborative journey and the opportunities that we can create and explore for our growing game lovers,” Sherlyn Chopra said.

With this appointment, Sheryln joins other leading names, who represent MelBet in India and globally. MelBet believes that with her fearless approach to pushing boundaries, she embodies the innovative spirit that MelBet values – which led to her appointment. This partnership is expected to strengthen MelBet’s connection with sports enthusiasts, gamers and those passionate about the game, opening up new opportunities for clients and helping to further expand the brand’s reach across South Asia.

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Asia

Savvy Games Delegation Joins More Than 30,000 Fans for Tencent and Hero Esports’ Honor of Kings Grand Finals in Beijing

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The inaugural King Pro League Grand Finals 2024, the biggest esports event in China, drew more than 30,000 fans to a sold-out Beijing Workers’ Stadium on Nov 16. A delegation from Savvy Games and the Esports World Cup Foundation also joined the iconic event hosted by Chinese tech giant Tencent and the largest esports company in Asia, Hero Esports (formerly known as VSPO).

HRH Prince Faisal bin Bandar bin Sultan Al Saud, Vice Chairman of Savvy Games Group (Savvy); Brian Ward, CEO of Savvy; and Ralf Reichert, CEO of the Esports World Cup Foundation, attended the tournament where two top Chinese esports teams competed for the inaugural Holy Dragon Cup and a record prize pool.

A total of 70 million rmb ($9.8 million) was awarded to the top 12 teams who advanced through the rounds of the six-week-long tournament. The final showdown was between Chengdu All Gamers and Chongqing Wolves, where Chengdu All Gamers emerged victorious in a best-of-seven series and took home 22 million rmb ($3.1 million) in prize money.

King Pro League, the premier esports league for Tencent’s hit game Honor of Kings, is the biggest esports league in Asia. Honor of Kings is the world’s most popular mobile game with more than 100 million daily players. Hero Esports has been the organizer of KPL tournaments since the league was first launched in 2016.

This year marks the inaugural KPL Grand Finals, which replaces the Honor of Kings International Championship for Chinese Honor of Kings competitors and features the top teams from across China, one of the biggest esports markets in the world with the most players. Events were held at arenas in Chengdu, Hangzhou and Changsha, with the Grand Finals event being held in Beijing.

The popularity of esports is growing rapidly around the world, encouraged by government support in a number of countries and new products and technology. According to a Frost & Sullivan Report, the market size of the esports gaming industry has experienced a significant increase at a CAGR of 15.2% from US$29.8 billion in 2017 to US$52.6 billion in 2021, and is expected to increase further at a CAGR of 12.1% from US$57.9 billion in 2022 to US$102.4 billion in 2027.

The report also shows that the number of gamers globally has experienced a significant increase at a CAGR of 7.1% from 2.3 billion in 2017 to 3.1 billion in 2021, and is expected to further increase at a CAGR of 5.5% from 3.3 billion in 2022 to 4.3 billion in 2027.

Danny Tang, CEO and Co-Founder of Hero Esports, commented: “Hero Esports is proud to have been a part of the first King Pro League Grand Finals, which is an example of the high calibre esports tournaments that fans and players everywhere deserve. The strong enthusiasm we’ve seen for this event in its first year is a testament to the significant growth of interest in this sport and the support of our high-profile sponsors. The atmosphere in the arena was electric and we congratulate the Chengdu All Gamers in winning the inaugural Holy Dragon Cup.”

Hero Esports, formerly known as VSPO, is a leading player in the global esports industry, collaborating with major game developers and global brands and organizing tournaments for players and fans across the world. It is the biggest esports tournament operator in Asia, having hosted 86 tournaments in the region in 2023, of which 62 were in China, compared with a total of 77 tournaments in 2020, of which three were overseas. The company recently announced the Esports Asian Champions League (ACL), Asia’s new premier international esports tournament featuring multiple titles.

Sponsors of the King Pro League Grand Finals 2024 include Meituan, Snapdragon and SAIC Volkswagen and iQOO.

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Asia

Natural8 India gives poker enthusiasts across the country a chance to become Asian Poker Tour (APT) champions from the comfort of their homes!

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Ever dreamt of testing your skills at poker competitively, against some of the best poker players in Asia? If you have, then let it be a dream no more! Natural8 India is giving poker players across the country, both amateur and professional, a chance to win up to 20 Asian Poker Tour (APT) trophies with the biggest-ever online APT series with millions in prize pools: the APT Online 2024!

Having kicked off on November 10, the APT Online 2024 offers players a chance to win up to 20 APT trophies, including three exclusive and bespoke APT Online Lion Trophies, and millions in prize pools across the Main Event, High Roller, and Super High Roller tables. Natural8 India will also automatically enter all players participating in any APT Trophy events into the Lucky Draw Flipout at no extra charge, giving five top players a chance to win the APT Main Event Live Packages.

Speaking about the event, Kunal Patni, Executive Director and Country Head, Natural8 India, said, “The APT Online 2024 is an unparalleled opportunity for poker enthusiasts in India to experience the thrill of competitive poker on a grand stage. We are thrilled to bring this prestigious series to players across the country, giving them the chance to not only test their skills against the best and compete for APT trophies and massive prize pools. Our goal is to make top-tier poker accessible to everyone, and we hope to inspire a new wave of talent to rise through India’s growing poker community. We are excited with the response so far and are looking forward to even more players, whether seasoned pros or just starting on their poker journeys, to participate in the exciting, thrilling experience that the APT Online 2024 is shaping up to be!”

With all this available with buy-ins as low as INR 1,100 and from the comfort of your home, what are you waiting for? Visit Natural8 India today and sign up for the table right here, and get a chance to compete against other poker enthusiasts and earn glory by becoming an APT Trophy winner!

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