Asia
AGTech Holdings Announces its 2019 Annual Results
AGTech Holdings has announced its annual results for 2019. The total revenue amounted to approximately HK$175.1 million, an increase of 3.9% over 2018. The main sources of revenue were lottery hardware, lottery games and systems, provision of lottery distribution and ancillary services, games and entertainment business in the PRC.
The revenue hike was primarily due to the increase in revenue from the lottery games and increase in sales from lottery hardware.
Operating loss for the year was approximately HK$194.9 million (2018: approximately HK$262.0 million), representing a decrease of approximately 25.6% over 2018.
The loss for the year under review was approximately HK$113.6 million (2018: profit of approximately HK$317.1 million). The change from profit to loss for the year was mainly attributable to several non-cash and non-operating items relating to the fair value changes of the Convertible Bonds and the contingent consideration payables under the Score Value Transaction.
John Sun, Chairman and Chief Executive Officer of AGTech, said:
“In 2019, our overall business continues to evolve and transform, both domestically and on the international front, to deliver a more sustainable and commercially viable business model. In a year which saw sales in the Chinese lottery sector decrease by approximately 17.5% compared to last year, the group stands strong and continues to work responsibly according to regulatory requirements, and at the same time explore on innovative measures towards development of the industry. As witnessed by our blockchain application project and augmented reality (AR) driven marketing campaign throughout 2019, we continue to lay the necessary foundation for our team, systems, technology and infrastructure to be well positioned towards our digitalization initiatives.”
“Our hardware division continues to bring innovative products to the market and maintain our position as a leading lottery hardware supplier. As we enter the era of 5G and the Internet of Things, our goal to implement and utilize smart technology applications to more retail shops under the Alibaba Group’s network will continue. The Group would like to congratulate Jiangsu province’s e-Ball Lottery in reaching RMB10 billion in total sales since its initial launch in 2013. This is a remarkable achievement, and we will continue to work closely with the provincial team to ensure smooth operations and promote responsible lottery to the community.”
“We anticipate to roll out our full suite of lottery solutions, including our SaaS (Software-as-a-Service) lottery delivery platform, a fully integrated digital platform that is tailored to serve both business and customers to refine on user experience on all fronts. Aligning to the Alibaba Group’s overriding new retail initiative, our platform will further enhance synergy by integrating hardware, software, and data to open up distribution channels, in addition to a potential new commercial model.”
“Paytm First Games (formerly known as Gamepind), our mobile gaming joint venture in India, will remain to be a key focus and driver for AGTech on the international front. In view of the success of our fantasy sport products in 2019, we will continue to serve as technical service provider to Paytm First Games’ sporting content. Supporting and grooming the platform to become a market leader in India has always been a mission to the Group. Our games and entertainment division will continue to develop and roll out engagement games for commercialization, and will also look for expansion opportunities in other selected international markets as well.”
Source: agtech.com
Asia
Skillhub Online Games Federation forges strategic partnership with IESF to bring International Esports Championships to India
The Skillhub Online Games Federation (SOGF) with the support of the Minister of Youth Affairs and Sports is aiming to bring the prestigious International Esports Championships to India for the first time, marking a major milestone for the country’s burgeoning esports industry. In a strategic move to position India as a global leader in online competitive and skill-based gaming, SOGF is working closely with the International Esports Federation (IESF) to organise world-class tournaments on Indian soil.
In a pivotal meeting last week, representatives from the SOGF and the IESF General Secretary, Boban Totovski, jointly called upon the Hon’ble Minister of Youth Affairs and Sports, Dr Mansukh Mandaviya, to discuss their milestone partnership aimed at shaping the future of India’s esports ecosystem.
In the meeting, the Hon’ble Sports Minister expressed strong support for SOGF and IESF’s initiative to introduce world-class esports programmes in India, emphasising the significance of developing the ecosystem and providing Indian athletes with international opportunities. He also endorsed SOGF’s efforts to regulate the esports and skill-based gaming ecosystem, reinforcing the government’s commitment to fostering a fair and competitive environment for the industry’s growth.
Shankar Aggarwal, President of SOGF said, “We are extremely thankful to the government and IESF for turning things around in such a short period of time. India’s potential in esports is immense, and this collaboration has the power to transform the esports landscape in the country. Not only will it broaden the reach of esports in India, but it will also pave the way for top-tier international competitions to be hosted in the country. With the support of the government and international bodies like IESF, we aim to foster a fair and thriving ecosystem. Our commitment is to nurture talent, regulate the industry, and ensure that Indian athletes have every opportunity to excel on the global stage.”
SOGF comprises Olympians, former high-ranking officials including former CJI and SC Judges, civil servants, and industry veterans, ensuring robust governance; it is further strengthened by its 29 associate state bodies, reflecting nationwide support for such initiatives. It is dedicated to ensuring fair competition, fostering transparency, and nurturing talent to represent India globally thereby emphasising fairness, collaboration, and sustainable long-term growth for India’s online gaming industry.
To champion online games including esports and to revolutionise the way gaming and esports are perceived in India, the SOG Federation has also joined hands with the International Mind Sports Association (IMSA), an umbrella organisation for global governing bodies of mind and skill-based sports, and the Global Esports Federation (GEF).
Boban Totovski, General Secretary, IESF said, “Supporting the growth and development of Esports communities around the world has always been one of the IESF’s key missions. We’re glad to see that SOGF shares the same values and is dedicated to working toward the same vision in India. We are very excited that our new pro-series, which we are organising, will kick off here, and we believe SOGF is a great partner for the project while unlocking opportunities for athletes, development and esports enthusiasts.”
Furthermore, the partnership between SOGF and IESF, supported by the Government of India, marks a positive step toward becoming a global leader in the space, especially with the much-anticipated Olympic Esports Games now in the mix. This collaboration aligns with India’s growing focus on international esports and the opportunities ahead for its athletes.
The post Skillhub Online Games Federation forges strategic partnership with IESF to bring International Esports Championships to India appeared first on European Gaming Industry News.
Asia
WorldMatch Announces Strategic Partnership with KGI
WorldMatch, leading provider of premium online gaming solutions, has announced a strategic partnership with KGI, marking a significant milestone in its expansion into the Philippine market. The collaboration with KGI represents WorldMatch’s inaugural and exclusive direct client in the Philippines, positioning the company as a key player in this burgeoning market.
As part of this partnership, WorldMatch has obtained certification for its games by the Philippine Amusement and Gaming Corporation (PAGCOR), ensuring compliance with local regulations and standards. This certification underscores WorldMatch’s commitment to providing high-quality gaming content that meets the strict requirements of regulated markets.
“The partnership with KGI and the certification by PAGCOR mark a pivotal moment for WorldMatch. Entering the Philippine market represents a significant opportunity for us to expand our presence in a regulated and rapidly growing industry. We are excited to collaborate with KGI and deliver our cutting-edge gaming solutions to players in the region,” said Xhuljana Demerxhiu, Head of Sales at WorldMatch.
The Philippines is a key market for the online gaming industry, with its robust regulatory framework and growing demand for innovative gaming experiences. By partnering with KGI and obtaining PAGCOR certification, WorldMatch is poised to capitalize on this opportunity and establish a strong foothold in the region.
Mr. Marvin A. Tort, President of KGI, said: “KGI is looking forward to this collaboration with WorldMatch, which is well known for its innovative gaming products with engaging gameplay. We are proud to be their partner in this region.”
The post WorldMatch Announces Strategic Partnership with KGI appeared first on European Gaming Industry News.
Asia
Kazakhstan to Host the Games of the Future 2026
Following a highly competitive process, Phygital International announced that Kazakhstan has been chosen as the host of the Games of the Future 2026.
This annual tournament, which is the pinnacle event of the phygital sporting world, received hosting bids from countries across the world, all bidding to follow the UAE in becoming hosts of this prestigious event.
Kazakhstan proved itself the ultimate winner with the Phygital International Expert Committee judges, after showcasing its expertise in hosting international tournaments, its state-of-the-art sports venues – along with the perfect mix of being a nation that embraces sports, culture and tradition as well as its technology and innovation capabilities.
The Games of the Future is a unique international event, which brings together the next generation of dynamic sporting heroes from all over the world. Phygital International expects the Games of the Future 2025 in UAE and now, 2026 in Kazakhstan to welcome thousands of world-class athletes and esports persons as part of multinational clubs. They will participate in the multi-sport event which comprises of a number of phygital sport challenges.
Nis Hatt, CEO of Phygital International, said: “We’re hugely excited at the prospect of Kazakhstan receiving the phygital flame from next year’s host, the UAE to host the 2026 tournament. It’s so pleasing to see the exponential growth of not only phygital sports, but also the global phygital community.
“In fact, the host nation bidding process for the Games of the Future 2027 is already hotting up but there’s still time for other countries to put their bid in before the deadline in December.”
Yerbol Myrzabossynov, Minister of Tourism and Sports for the Republic of Kazakhstan, said: “It is a privilege for our great nation of Kazakhstan to be awarded the honour of hosting the Games of the Future in 2026. Our country has supported phygital sport from its very inception, and we take pride in being the next in line to host this great event and we’re excited to receive the phygital flame from the UAE, who’s hosting in 2025 we greatly look forward to.”
The Games of the Future places no restrictions on its participants and welcomes everyone, regardless of their age, gender and nationality. The deadline for submitting applications to host the tournament in 2027 is December 31, 2024.
The post Kazakhstan to Host the Games of the Future 2026 appeared first on European Gaming Industry News.
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