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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.

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

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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Max Level wins PR & Communications mandate for LVL Zero Gaming Incubator

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Max Level, a leading marketing and PR agency built by gamers, has been appointed as the official PR and communications partner for LVL Zero, a first-of-its-kind incubator program spearheaded by ChimeraVC in partnership with MIXI Global Investments and Nazara Technologies. The initiative aims to accelerate the growth of early-stage gaming startups in India through a 100-day structured program combining mentorship, product acceleration and capital access.

LVL Zero offers an equity-free grant pool worth USD 100,000, open to all startups across the gaming ecosystem. Each cohort will see 10 startups receive a USD 10,000 equity-free grant. The program is designed to help startups accelerate product development through targeted mentorship, access to funding opportunities, and connections with publishing networks. Over the next five years, LVL Zero aims to empower more than 100 promising startups to build sustainable businesses and compete globally.

Speaking on the partnership, Krish Anurag, Managing Partner at ChimeraVC and Founding Partner at LVL Zero said: “LVL Zero is our commitment to catalysing the next generation of gaming founders from India and Asia. We’re thrilled to have Max Level on board as our communications partner. Their deep understanding of the gaming ecosystem, narrative expertise, and proven network within the media landscape make them the ideal agency to help us amplify this initiative and the founders who will shape the future of gaming.”

As the PR and communications partner for LVL Zero, Max Level will lead the initiative’s storytelling and thought leadership strategy, spotlighting the success stories emerging from each cohort to highlight the program’s impact on the gaming startup ecosystem. With a proven track record as the communications partner for some of India’s leading gaming and esports brands, including NODWIN Gaming, S8UL Esports, Riot Games, and CyberPowerPC India, Max Level brings deep industry insight, strategic narrative expertise, and an authentic understanding of the gaming community to help LVL Zero achieve its vision and amplify its influence across the region.

Siddharth Nayyar, Co-Founder and Chief Executive Officer at Max Level, added: “LVL Zero is an incredible incubator program for gaming startups in India, and we’re excited to help tell its story. The program is perfectly aligned with our mission to support the growth of India’s gaming and creator economy, and we look forward to driving awareness around the founders, ideas, and innovations emerging from LVL Zero’s cohorts.”

In addition to PR and communications, Max Level provides gaming and esports brands with an array of services, including campaign management, brand building, production, video editing, social media marketing, influencer programs, and consultancy. The agency’s portfolio spans leading names such as NODWIN Gaming, S8UL, Riot Games India and South Asia, CyberPowerPC India, KRAFTON, the Saudi Esports Federation, ESL FACEIT Group, The Esports World Cup, ASUS ROG, Jio Games, TVS, and HyperX, among others.

This partnership marks another milestone in Max Level’s mission to power narratives that elevate India’s gaming, esports, and tech ecosystem globally.

The post Max Level wins PR & Communications mandate for LVL Zero Gaming Incubator appeared first on European Gaming Industry News.

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Nazara’s Subsidiary Absolute Sports Enters Pickleball, Acquires Mumbai Franchise in Indian Pickleball League

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Absolute Sports Pvt. Ltd., a subsidiary of Nazara Technologies Limited and the parent company of Sportskeeda and Pro Football Network, has announced its entry into the fast-growing global sport of pickleball through the acquisition of the Mumbai franchise in the inaugural Indian Pickleball League.

The franchise rights agreement has been executed with PWR Indian League and Tour Private Limited, organizers of the league and strategically backed by The Times Group, one of India’s largest media conglomerates.

Pickleball is one of the world’s fastest-growing sports. Globally, the market is projected to expand from USD 1.5 billion in 2023 to USD 4.4 billion by 2033. In India, participation has surged 159% between 2019 and 2022, driven by increased adoption across sport, fitness, and community recreation centers. The launch of the Indian Pickleball League is expected to propel the sport into mainstream fan culture and open meaningful commercial opportunities across media, merchandising, and grassroots engagement.

With exclusive rights to the Mumbai territory, Absolute Sports will build and operate the team, including its digital identity, brand, website, social channels, athlete marketing, and fan engagement programs. The franchise strengthens Absolute Sports’ mission of bridging digital fandom with on-ground sporting experiences and aligns with its expansion strategy into high-growth sports ecosystems.

Ajay Pratap Singh, Director & CEO of Absolute Sports, said: “Our mission at Absolute Sports is simple, be where the fans are. Pickleball is no longer an emerging trend. It’s a global movement and is rapidly becoming a lifestyle and competitive sport in India. Securing the Mumbai franchise allows us to deeply engage with this growing community and leverage our expertise in content, storytelling, and fandom to build a team that the city can rally behind. This investment is perfectly aligned with our strategy of targeting high-engagement sports assets.”

Vineet Jain, Managing Director, The Times Group, said: “We are delighted to welcome Nazara as the owners of the Mumbai franchise in the Indian Pickleball League. Nazara has been a pioneer in gaming and digital sports entertainment, and their entry into IPBL is yet another signal of the exciting future of this sport. With their innovation-driven mindset and deep understanding of young India, we believe they will play a transformative role in shaping the league, inspiring fans, and building a strong and passionate pickleball community in Mumbai. Together, we look forward to taking the sport to new heights and creating a league that India will be proud of.”

With the Asia-Pacific region projected to be the fastest-growing pickleball market through 2029, this move positions Absolute Sports and by extension, Nazara Technologies — at the forefront of a new and rapidly scaling sports category.

The post Nazara’s Subsidiary Absolute Sports Enters Pickleball, Acquires Mumbai Franchise in Indian Pickleball League appeared first on European Gaming Industry News.

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UniPin Accelerates Esports Growth Through Nationwide Campus Esports Championship in India, Expansion to 50+ Universities in 2026

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UniPin, the leading digital entertainment and esports enabler across Asia, had launched the UniPin Campus Championship India, a large-scale interuniversity esports tournament designed to unite and empower student gamers through competition, collaboration and community building.

Running from October to December 2025, the championship will bring offline esports tournaments to eight major cities: Mumbai, Pune, Delhi NCR, Bengaluru, Hyderabad, Kolkata, Ahmedabad and Lucknow. Winners from each campus qualifier will advance to the Grand Finale in January 2026, where they will compete for national recognition and esports glory.

The championship officially kicked off in Pune (MIT Pune, Oct 30) and Mumbai (NMIMS Mumbai, Oct 31). Both campuses recorded overwhelming enthusiasm from students eager to represent their universities, demonstrating the growing momentum of esports within India’s student communities. Packed audiences, spirited support and competitive gameplay marked a strong opening for the multi-city series.

“The UniPin Campus Championship India underscores UniPin’s ongoing commitment to cultivating the next generation of esports talent while strengthening a culture of collaboration, discipline, and sportsmanship among young players. As India’s gaming ecosystem continues to grow, we are proud to provide a platform that empowers students to showcase their skills, connect with the community, and pursue their passion at a competitive level,” said Paras Gupta, Manager of Esports, Community & KOL at UniPin India.

Expansion Vision: 2026 and Beyond

Building on the momentum of this inaugural championship, UniPin India is preparing an even larger nationwide initiative for 2026, with plans to reach more than 50 universities across India. The expansion aims to elevate intercampus esports into a mainstream student activity by integrating workshops on esports careers, community networking and developer engagement — not only fostering competition, but also building pathways into the gaming and digital entertainment industry.

This upcoming expansion signals UniPin’s long-term investment in India’s esports ecosystem and strengthens its commitment to making esports accessible, structured and sustainable at the grassroots level.

“This expansion is not just about growing the tournament footprint. By 2026, we aim to reach every major campus so they can have a thriving esports community supported by the right infrastructure, education, and exposure,” Paras added.

Through the UniPin Campus Championship, UniPin reinforces its mission to accelerate the growth of esports and digital entertainment in Asia by creating inclusive opportunities for young players to connect, compete and thrive.

The post UniPin Accelerates Esports Growth Through Nationwide Campus Esports Championship in India, Expansion to 50+ Universities in 2026 appeared first on European Gaming Industry News.

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