China LotSynergy’s net profit up 35 pct

Lottery supplier China LotSynergy Holdings Ltd saw its net profit reach HK$54.9 million (US$7 million) for the first half of this year, a 35 percent increase compared to HK$40.6 million a year ago, the firm said in a filing with the Hong Kong Stock Exchange on Tuesday.
The Hong Kong-listed lottery supplier’s first half turnover also grew by some 35 percent to HK$460 million from HK$341.6 million a year ago, the company noted in its filing.
China LotSynergy is a technology and service provider for lottery systems, terminal equipment, gaming products and their operations in China’s lottery market. The firm’s lottery products include video lottery (VLT), computer-generated ticket games, KENO-type lottery and new media lottery.
The firm is the exclusive terminal equipment provider for China Welfare Lottery’s VLT, the sales of which amounted to 1.6 billion in the first half of this year, up 28.5 percent year-on-year.
This sales growth has outpaced the overall lottery industry’s growth at 19.2 percent in mainland China for the first half of this year. Partly stimulated by the World Cup in June, China’s total lottery sales hit new heights at 178.4 billion yuan, of which the sales in Shanghai, Hunan, Guangdong, Gansu and Shandong posted relatively larger growth compared to the rest of the mainland, Ministry of Finance data shows.