Wednesday October 15,2014 : U.S. COMPANY AWARDED CHINESE MOBILE LOTTERY LICENSE
Fujian Administration grants mobile sports lottery licence to XcelMobility.
A mobile internet application development and marketing firm based in Palo Alto, California has been awarded a sports lottery license by the Chinese provincial body, the Fujian Administration of Sport and Gaming.
XcelMobility Inc., says the licence it has received permits it to supply sportys lottery services using mobile devices.
Ronald Strauss, executive chairman of the company, said Wednesday:
"We're very excited to receive the Mobile Lottery License. We see this as recognition of our company as a leading mobile lottery provider in China. The new license will allow XCLL to quickly grow our lottery brand and revenues in the fast growing mobile lottery market in China."
Xcelmobility's mobile lottery business is now fully online and servicing mobile lottery customers in China. Strauss says that the company is currently in discussions with a number of China based lottery game suppliers to provide them with national mobile lottery services.
The Chinese lottery market has experienced strong growth in recent years as a result of positive macro trends in China, such as robust economic growth, increases in disposable income and a more positive shift in public perception towards the lottery business.
Total lottery sales in China are projected to be $61 billion and $73.3 billion in 2014 and 2015, respectively, representing a 21.5 percent and 20.3 percent increase in 2014 and 2015 from their respective preceding years, according to an iResearch Report.
The iResearch Report projected online sales for sports lottery products to be $2.2 billion and $3.2 billion in 2014 and 2015, respectively, representing 47.3 percent and 44.8 percent increase from the respective preceding years.