AGTech Holdings has announced that through its Beijing AGtech GOT Technology subsidiary, it has won the sports lottery terminal procurement bidding projects in the Chinese provinces of Anhui, Shanxi, Jilin, Hubei, and Guizhou.
Having won successive bids for the provinces in each of the first batch of bidding projects, AGTech GOT will now provide Jilin and Hubei with traditional sports lottery sales terminals, while providing Android terminals for sports lottery in the three other provinces of Anhui, Shanxi and Guizhou.
China suspended all lottery sales in January in response to the lockdown procedures put in place to halt the spread of COVID-19. Since March, some lottery services have reopened, however regions such as Beijing had remained closed until May.
The threat of new outbreaks of the virus in the country’s largest city has seen operations once again come under threat, with local officials intending to avoid lottery premises from becoming hubs for ‘super-spreaders.’
The January lockdown saw the market decline by 43.4% with sales falling to a further CNY1.3m in February as products were unable to be sold.
As it stands, total lottery sales for the year have fallen by 49.2% to CNY90.33bn – CNY46.34bn of which is made up from the China Sports Lottery and CNY43.99bn coming from the Welfare Lottery.
Regarding the impact COVID-19 has had on AGT, the supplier reported a 32.2% decline in revenue for Q1.
