10/09/2012 :  VIRTUAL HORSE RACING BRINGS IN THE BUCKS FOR AGTECH
 
$205.5 million sales milestone passed in Chinese venture
 
Chinese internet sports lottery software and systems developer AGTech Holdings Limited has announced that its Lucky Racing virtual sportsbetting game has passed a significant milestone recently with RMB1.3 billion ($205.5 million) in total sales.
 
A joint-venture between AGTech and British online and land-based sportsbetting giant Ladbrokes, the fixed-odds Formula One-style Lucky Racing title has been rolled out in about 1,500 locations throughout China’s seventh most populated province, Hunan, since its launch a little over a year ago and has chalked up total sales of RMB94 million ($15 million) in its first month of operation.
 
Hunan has a population roughly equivalent to that of France and AGTech is celebrating the game’s first anniversary by introducing a trio of new bet types in Group First Two, Group First Three and Big-Small/Odd-Even.
 
John Sun, chairman and CEO of AGTech says Lucky Racing is a true pioneer as the first rapid-draw fixed-odds virtual sports game in China.
 
"In the future, we expect Lucky Racing to tap the large potential of the regulated betting market in China through an expanded rollout at more retail betting shops and leisure venues nationwide as well as other distribution channels including new media channels such as mobile, Internet and Internet protocol television,” he said Monday.