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

George Miller

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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

Leading EA SPORTS FIFA Online 4 players to compete in ePremier League China

George Miller

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Leading EA SPORTS FIFA Online 4 players to compete in ePremier League China
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The Premier League, in partnership with Tencent Sports, Tencent Gaming and EA SPORTS, is launching ePremier League China later this month, the first ePremier League event to be staged outside the UK.

Some of the best Chinese gamers on EA SPORTS FIFA Online 4 will represent all 20 Premier League clubs alongside hand-picked content creators and influencers. They will compete together in a group stage to determine who reaches the finals in May. The tournament will be streamed live by Tencent across China and kicks off on Wednesday 28 April.

Premier League Commercial Director Will Brass said: “The EA SPORTS FIFA Online 4 video game series is one of the key channels through which fans in Asia can engage with Premier League clubs and players. After three successful ePremier League seasons in the UK, it is exciting to now be able to take this overseas for the first time and particularly to China – a hotbed for gaming and football.

“We are looking forward to working closely with EA SPORTS and our broadcast partner Tencent Sports to showcase some of the world’s best gamers in action. I am sure it will prove popular with the loyal and passionate supporters of Premier League clubs in China.”

Matches will be played on EA SPORTS FIFA Online 4 (FO4) on PC, which has more than 10 million registered players in China. Each of the 20 Premier League clubs will be represented in the tournament by two local players – one high-ranking gamer on the FO4 leader board and one influencer.

This will include famous esports commentator Guan Zeyuan and the well-known FIFA Online influencer Shen Rongjie.

The clubs will be divided into four groups of five teams, with the winners of each group advancing to a knockout stage. Group-stage matches will be played online, whereas knockout matches will be played offline at Wisdom Bay in Shanghai.

Group matches will take place between Wednesday 28 April and Saturday 8 May. The knockout phase will be held on Friday 14 May, with the Grand Final on Saturday 15 May.

The ePremier League China tournament will further complement the Premier League’s digital offerings in the country, where it has more than eight million followers across its digital and social platforms.

The tournament is being broadcast on Tencent Sports, Tencent Video and Tencent News. It will also be available on Huya, Douyu and Yizhibo.

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Asia

Esports Technologies Launches Gogawi Wagering Platform in Japan

George Miller

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Esports Technologies Launches Gogawi Wagering Platform in Japan
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Esports Technologies, a global provider of advanced esports wagering products and technology, today announced the launch of its consumer platform, Gogawi, in Japan. Gogawi.com, now available in more than 140 jurisdictions, is an immersive betting destination offering top tournaments and games 24×7.

Japan is the birthplace of many influential video games and game developers, and has had an enormous impact on global gaming culture. The Japanese Ministry of Economy, Trade and Industry is now working with the private sector to promote its esports market, which is projected to grow from 6.1 billion yen (US$56.8 million) in 2019 to 15.3 billion yen (US$140.6 million) in 2023. The ministry’s goal is to generate 285 billion yen (US$2.6 billion) in economic benefits annually by 2025.

Aaron Speach, CEO, Esports Technologies, said, “With its long history and deep roots in both gaming and technology, Japan has potential as an esports wagering market. We believe Gogawi.com is an exciting and intuitive esports wagering platform built specifically with the next generation of bettors in mind, from improved payment options to new wagering products. We are eager to have the product live, and look forward to expanding our partnerships into the Japanese market.”

Esports Technologies relaunched Gogawi.com in March 2021. One of many key upgrades to the platform is its partnering with the payment services solutions Apcopay and Astropay, which provide more deposit and withdrawal options and aim for faster settlement times.

SOURCE Esports Technologies, Inc.

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Asia

Esports Players League Partners with Warner Music Asia

Niji Narayan

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Esports Players League Partners with Warner Music Asia
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Online tournament platform Esports Players League (ESPL) has partnered with Warner Music (WM) Asia to bring music to esports players and fans around the world.

The deal will allow ESPL to embed Warner Music songs into its platform and drive awareness of those artists and their music to mass esports players and fans globally, and represents an important entry into the gaming space for WM Asia.

Additionally, the collaboration will also enable authentic and well-matched brand partnerships across ESPL’s partners, including video game publishers, developers and brands.

“We’re thrilled to be partnering with ESPL. There’s a huge audience crossover straddling gaming and music, and ESPL’s community of grassroot esports players, along with their engaged fans, will help us to bring the two segments together. ESPL’s trusted ecosystem will also enable us to deliver an array of new, authentic, and bespoke experiences, with gamers forefront of mind, and we can’t wait for everyone to see and experience them for themselves,” Darren Ho, SVP Music Entertainment and Partnerships, WM Asia, said.

“Esports is the fastest growing industry in the digital age of entertainment. Warner Music has been active in the ever-changing landscape of today’s world and so this strategic partnership will bring a value proposition to both players and brands across our global network that we are confident will elevate amateur esports to another level,” Michael Broda, CEO and Co-Founder of ESPL, said.

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