{"id":11274,"date":"2020-10-27T22:17:28","date_gmt":"2020-10-27T22:17:28","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=11274"},"modified":"2026-04-24T00:37:32","modified_gmt":"2026-04-24T03:37:32","slug":"limits-on-sports-lotteries-begin-taking-effect-in-china","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/limits-on-sports-lotteries-begin-taking-effect-in-china","title":{"rendered":"Limits on sports lotteries begin taking effect in China"},"content":{"rendered":"\n

The ban on operating multiple virtual sports lottery games has led\u00a0to two AGTech\u00a0games to be withdrawn.<\/p>\n\n\n\n\n\n\n\n

China.-\u00a0As of November 1, every Chinese province, autonomous region or municipality will be allowed to operate only one quick-draw for virtual sports-related lotteries.\u00a0\u00a0<\/p>\n\n\n\n

A recent joint\u00a0notice from the Ministry of Finance, the Ministry of Civil Affairs and the General Administration of Sport announced the restrictions on sales of quick-draw welfare lottery\u00a0games and\u00a0high frequency sports lottery games.\u00a0\u00a0<\/p>\n\n\n\n

After next year\u2019s annual Spring Festival holiday, all high-frequency quick-open games will be stopped.<\/p>\n\n\n\n

The changes are already taking effect as AGTech\u00a0Holdings Limited has announced it two of its virtual\u00a0sports lottery games have been withdrawn.<\/p>\n\n\n\n

One of them is the football-themed virtual e-Ball Lottery, which will no longer be sold in Jiangsu Province. The motor racing-themed game Lucky Racing will be withdrawn in Hunan Province.\u00a0\u00a0<\/p>\n\n\n\n

The firm said it had “received a written implementation letter dated 23 October 2020 from Jiangsu Sports Lottery Administration Centre (the \u201cJiangsu SLAC\u201d) in relation to, among other matters, the cessation of the sales of e-Ball Lottery with effect from 1 November 2020.\u201d\u00a0<\/p>\n\n\n\n

The group is currently evaluating the financial impact of the decisions and has said it will take \u201cappropriate\u00a0actions\u201d to\u00a0safeguard\u00a0its interests.\u00a0\u00a0<\/p>\n\n\n\n

AGTech\u00a0has decided to no longer generate any revenue from virtual sports lottery games starting November 1 as it assumes\u00a0that long-term sales of such games will\u00a0cease.\u00a0\u00a0<\/p>\n\n\n\n

Its virtual sports lottery games unit generated HKD43.3 million (US$5.58 million) in 2019 and HKD34 million (US$4.38 million) in 2018, over a fifth of the company\u2019s\u00a0total revenue for those years.<\/p>\n\n\n\n

For the nine-month period ending September 30 2020, the revenue attributed to the unit represented approximately 38.2 per cent\u00a0of the group’s total revenue as the lotteries business continues to recover<\/a><\/em><\/strong> in China.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The ban on operating multiple virtual sports lottery games has led\u00a0to two AGTech\u00a0games to be withdrawn.<\/p>\n","protected":false},"author":2,"featured_media":11276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"China's new regulatory framework restricts provinces to a single quick-draw virtual sports lottery, leading to the withdrawal of two AGTech Holdings Limited games. This policy, effective November 1, will cease all high-frequency quick-open games post-Spring Festival, significantly impacting AGTech's revenue, which derived over a fifth of its total from this vertical. AGTech is evaluating the financial impact and ceasing revenue generation from this segment.","focusai_entities":"AGTech Holdings Limited, Ministry of Finance, Ministry of Civil Affairs, General Administration of Sport, Jiangsu Sports Lottery Administration Centre","focusai_location":"China, Jiangsu Province, Hunan Province","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.85), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"AGTech Revenue Impact?","query":"What is AGTech Holdings Limited's revised financial guidance and strategic pivot to mitigate the substantial revenue loss from the cessation of virtual sports lottery operations?"},{"label":"China Regulatory Outlook?","query":"What are the broader implications of China's recent regulatory tightening on other high-frequency or quick-open gaming verticals, and what is the projected timeline for further policy announcements?"}],"footnotes":""},"categories":[161,16338,156],"tags":[23700,227],"class_list":["post-11274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-east-asia-news","category-regulation-news","tag-agtech","tag-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11274"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11274\/revisions"}],"predecessor-version":[{"id":11282,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11274\/revisions\/11282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11276"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}