Monday November 14, 2011 : Ladbrokes joint venture looks towards expansion
AGTech and its 51 percent owned joint venture with Ladbrokes, Asia Gaming Technologies (Beijing) Co., Ltd.'s fixed-odds rapid-draw lottery game "Lucky Racing" has exceeded RMB 100 million ($15.7 million) in total sales following the game's official launch on August 30, 2011 with sales exceeding those of all other lottery and wagering products in the Hunan province of China.
The joint venture is now in a unique position to expand its initial game and introduce stable virtual sports games for China Sports Lottery, targeting the expansive growth of the leisure and entertainment “wallet” in China, revealed a company spokesperson.
The game is expected to expand across China in terms of retail betting shops and the newly approved media channels such as mobile, internet and Internet Protocol Television (IPTV).
In AGTech’s third quarter results presentation a company statement said: "The Directors are optimistic about the prospects of the sports lottery market. The future lottery development in China will include online and mobile betting with the development focusing on betting games including real and virtual sports games and electronic scratch tickets."