HONG KONG, June 7, 2018 /PRNewswire/ -- AGTech Holdings Limited ("AGTech" or the "Company", HKEX stock code: 08279), is pleased to announce that the Company has entered into a three-year strategic cooperation framework agreement with Guangdong Province Sports Lottery Center ("provincial sports lottery center") to carry out marketing and promotion, sales and operations of China Sports Lottery throughout offline retail channels of its parent company Alibaba Group ("Alibaba"), such as Rural Taobao, Ling Shou Tong and etc., in Guangdong Province. In the afternoon of 6 June, AGTech and Guangdong Province Sports Lottery Center jointly hosted a ribbon-cutting ceremony at the opening of the Rural Taobao Guangdong Province sports lottery retail store in Boluo, Huizhou, Guangdong Province, marking the beginning in advancing the lottery channel cooperation from both parties. By leveraging its extensive experience and expertise in lottery channel, marketing and operations management, the Company will assist provincial sports lottery centers in expanding lottery products into Alibaba's vast brick-and-mortar retail network, which is expected to expand the reach and access of China Sports Lottery across the province, attracting more existing and new customers.
Under the cooperation, AGTech will expand the sales network for sports lottery through Alibaba's various offline channels, undertaking the promotion and marketing, sales and operations of China Sports Lottery within Guangdong Province. Currently, Alibaba operates thousands of Rural Taobao service stations, convenience store format Ling Shou Tong and etc. across Guangdong Province. The integration of lottery into these selected locations will provide both lottery customers and Alibaba's vast customer base with unparalleled access to sports lottery. The cooperation brings together the resources and expertise from both parties, and promotes integration across channels. This will not only lead to better marketing results through integrating customer base, but also help to expand the reach and access of sports lottery product and ultimately improve lottery sales volume as a whole. As a leader in lottery, AGTech will fully utilize its expertise in lottery channel, marketing and operations management to boost the sales volume of lottery in Guangdong Province, thereby helping to accelerate innovation and advance the lottery industry as a whole.
John Sun, Chairman and Chief Executive Officer of AGTech, said, "We are very positive about the promising growth prospects of lottery business in Guangdong Province, which already has a leading position in China in terms of sports lottery sales revenue. In 2017, Guangdong sports lottery generated a total sales of RMB19.3 billion, making up for over 9% of total sports lottery sales. The existing scale of the Guangdong lottery market and its potential give us great confidence that this will be a very successful cooperation. Given the considerable scale of lottery sales in Guangdong Province, Alibaba's various ubiquitous retail network and channels as well as our expertise and experiences in the lottery channel business, we believe this strong combination will further improve the consumption pattern and experience of sports lottery products as a whole. As the exclusive lottery platform of Alibaba Group and Ant Financial Group, we will continuously explore and pursue innovative opportunities in the industry and form partnerships with leading players, with the goal of advancing the lottery industry and contributing to the healthy development of the national sports cause and public welfare."
About AGTech Holdings Limited
AGTech was incorporated in Bermuda and its Shares are listed on GEM (Stock Code: 8279). 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 400 employees, AGTech is the exclusive lottery platform of Alibaba Group and Ant Financial Group.
AGTech's businesses are broadly divided into two categories:
AGTech is a Gold Contributor of the World Lottery Association (WLA), an associate member of the Asia Pacific Lottery Association (APLA), an official organiser and operator of the competition card games Guan Dan and Two-on-One poker in China, and an official partner of the International Mind Sportss Association (IMSA).
For more information, please visit www.agtech.com.
