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AGTech Announces Interim Results For The Six Months Ended June 30, 2020

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AGTech Holdings Limited, a leading integrated lottery, games and entertainment technology company in China, announced the interim results for the six months ended June 30, 2020.

According to MOF figures, during the Six-Month Period, lottery market recorded sales of approximately RMB123.9 billion, a decrease of approximately 41.7% compared to the corresponding period in 2019. Other than the closure of national lottery market during Chinese Lunar New Year, the drop in sales was mainly due to the impact of Novel Coronavirus (“COVID-19”) outbreak while the business hours of lottery sales outlets were significantly reduced. Lottery sales activities have since resumed in March 2020, and the Group will continue to closely monitor the latest development and recovery post pandemic.

AGTech’s Hardware division primarily supplies the Sports Lottery and the Welfare Lottery and has hardware deployed in multiple provinces, cities, municipalities and autonomous regions across China. During the Six-Month Period under review, the Group won five lottery hardware tenders to supply lottery terminals to the SLACs in Anhui province, Shanxi province, Jilin province, Hubei province and Guizhou province of the PRC. The Group will continue to pursue tenders to supply to the lottery and other hardware market and bid for new contracts after resumption of tenders post COVID-19 delays.

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Transition to new retail models presents a great opportunity for the further development of the Group’s hardware business. Many of the hardware supplies required under such new retail concept share similar technology and components that underlie the lottery hardware products supplied by the Group throughout the years. We believe our hardware division continues to be well positioned to take advantage of such opportunities in the foreseeable future.

The Group continues to operate the lottery channel on mobile Taobao and mobile Alipay to serve as a one-stop platform on lottery related information for existing and potential customers. With the recent addition of sporting content and sports intelligence services to our lottery channel, we expect to roll out further engagement features and tools to improve user experience and engagement.

From a lottery products point of view, we have identified instant scratch lottery games to be an important product initiative for the coming year, as we will be dedicating resources to open up this market within the lottery sector.

FINANCIAL HIGHLIGHTS

Revenue of the Group for the Six-Month Period amounted to approximately HK$43.9 million, representing a decrease of approximately 8.0% over the corresponding period in 2019. Revenue contributions were mainly derived from lottery hardware, lottery games and systems, provision of lottery distribution and ancillary services, games and entertainment business in the PRC.
The decrease in revenue for the Six-Month Period was primarily caused by the decrease in sales of lottery hardware of approximately HK$6.6 million and decrease of approximately HK$1.0 million in revenue from games and entertainment division, partially offset by an increase of approximately HK$4.6 million from the lottery games and systems.
The decrease in revenue from hardware business was due to slower tendering processes and hardware deliveries in several provinces as compared to the corresponding period in 2019 as a result of the COVID-19 pandemic.The increase in revenue from the lottery games and systems was caused by the increase in sales volume from the virtual sports lottery games in the second quarter of 2020 after the reopening of PRC lottery market.
Operating loss for the Six-Month Period was approximately HK$105.6 million, representing a decrease of approximately 12.1% over the corresponding period in 2019.
About AGTech Holdings Limited

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AGTech was incorporated in Bermuda and its shares are listed on the GEM (Stock Code: 08279). AGTech is an integrated technology and services company engaged in the lottery and mobile games and entertainment market with a focus on China and selected international markets. A member of the Alibaba Group with around 340 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Group.

AGTech’s businesses are broadly divided into two categories:

Lottery (including hardware, games and systems, provision of distribution and ancillary services); and
Games and Entertainment.
AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), and an official partner of the International Mind Sports Association (IMSA).

Source: AGTech Holdings Limited

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12BET Goes Crypto with Big Rewards

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As cryptocurrency adoption surges worldwide—driven by landmark legislation and growing investor confidence—12BET, continues to lead in embracing digital innovation. Recent U.S. Congressional moves to pass crypto-focused legislation, alongside India’s evolving regulatory stance, mark a global shift towards mainstream acceptance of digital assets.

12BET, a pioneering name in the igaming world since 2007, invites crypto users to experience fast, secure and flexible transactions through its wide range of supported cryptocurrencies. Players can choose from the widely used USD-pegged stablecoin USDT (Tether), Bitcoin (BTC), Ethereum (ETH) and the community-favourite Dogecoin (DOGE). These crypto-friendly payment options ensure seamless access to 12BET’s full entertainment portfolio—meeting the expectations of a new generation of tech-forward players.

“As cryptocurrency continues to reshape how people handle money, we’re proud to give our players modern payment options that reflect our values of fairness and transparency. We’re building a platform that moves in step with global innovation and player-first features,” said Rory Anderson, spokesperson for 12BET.

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To celebrate this growing momentum, 12BET is offering all eligible users a spin on their Lucky Wheel, with prizes including an iPhone 16 Pro Max, a 2.5g 999 gold bar and a DJI Osmo Pocket 3—available for a limited time.

This move comes amid growing global crypto adoption, with recent legislative efforts like the GENIUS Act and CLARITY Act in the US, and increased regulatory clarity in markets like India. As the global crypto market surpasses $4 trillion, 12BET is doubling down on its mission to deliver a future-ready, player-first gaming experience.

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Enforcement Directorate of India Issues Fresh Summons to Meta, Google in Online Betting Probe

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Executives of tech giants Meta and Google did not depose before the Enforcement Directorate of India (ED) on Monday and have now been given fresh summons for July 28 in a money laundering case linked to promotion of illegal online betting and gambling platforms.

The representatives of the two companies sought deferment of the July 21 summons, saying they need time to collect relevant information and documents before they present themselves for questioning and recording of their statements at the federal probe agency.

The executives have been given a one-week extension and asked to depose on July 28. Once they depose, their statements will be recorded under the Prevention of Money Laundering Act (PMLA).

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A Google spokesperson said that the company was “committed to keeping our platforms safe and secure, prohibiting the promotion of illegal gambling ads.”

“We are extending our full support and cooperation to investigating agencies to hold bad actors responsible and keep users safe,” the spokesperson said.

There was no response from Meta.

The federal agency is probing several platforms allegedly hosting illegal betting and gambling links, including instances of advertisements placed for them on various social media outlets and app stores.

The tech giants are understood to have been called by the ED to know how such illegal platforms can place ads on their portals.

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Some actors, celebrities and sports persons are also under the scanner of the agency in these cases, and are expected to depose.

The ED has claimed illegal online betting and gambling platforms cheated people of their hard-earned money, and also laundered and evaded paying taxes of up to several crores of rupees.

Google said its “continuous AI advancements, complemented by human expertise, ensure all ads on our surfaces comply with local laws and our strict ad policies, and protect users from evolving threats.”

“Last year alone, we removed 247.4 million ads and suspended 2.9 million advertiser accounts in India,” the firm said.

The ED is investigating more than a dozen cases linked to illegal gambling and betting platforms across the country, including the Mahadev Online Book (MOB) app, whose main promoters hail from Chhattisgarh.

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BETER Names Miguel Valdes as Business Development Manager for APAC

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BETER, the award-winning provider of fast-betting content, data, and odds for esports and sports, has strengthened its global team with the appointment of Miguel Valdes as Business Development Manager for the Asia–Pacific region.

Miguel is an experienced business development manager, having previously worked at prominent companies including SiGMA World, among others.

In his new role, Miguel will be responsible for driving BETER`s growth by creating new opportunities with operators, platform providers, and aggregators, helping the supplier expand its presence across the APAC region.

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This includes establishing strategic partnerships and nurturing existing relationships with local partners as part of BETER’s broader efforts to scale quickly in APAC, mirroring its rapid growth in markets such as Latin America and Europe.

Miguel’s efforts will support BETER’s expansion into various APAC markets by leveraging the region’s strong demand for its fast-betting content. He will also lead the development of a local team focused on strengthening BETER’s footprint in the area.

Chuck Robinson, Chief Revenue Officer at BETER, commented: “Miguel is a strong addition to our team and will lead BETER’s development in the APAC region. He brings valuable experience to the table, and we are delighted to welcome him on board.

“We have ambitious plans for the region and with our various portfolio of esports and sports products, we’re perfectly positioned to meet the needs of the next-gen bettors there.” 

Miguel Valdes added: “I’m excited to join BETER, especially at a time when the demand for fast-paced content is rapidly growing. This trend is evident not only in APAC but worldwide, with BETER driving that movement.

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“The region holds enormous opportunities, not only for BETER but also for the operators and aggregators who are open to leveraging fast-betting potential. I look forward to contributing to BETER’s growth and exploring new markets across APAC together.” 

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