A recent report by AGTech Holdings has revealed that one of the company’s subsidiaries has been awarded a big contract to facilitate the development and deployment of augmented reality products for the China Sports Lottery. According to the Hong Kong Stock Exchange, the augmented reality technology that AGTech will provide will be specifically used for the purpose of “online promotion activities” for the lottery.
“The group will utilize its expertise to assist National Sports Lottery Center in promoting sports lottery products and expanding its youth customer base. The group’s involvement in this project demonstrates its continued commitment in China’s lottery technical service and technical development market,” the AGTEch Holdings filing elaborated.
Also included in the company’s filings were statements that explained its goals moving forward as they work with the Chinese national lottery. For instance, the company clarified that their efforts will now be mostly focused on ensuring the delivery of products that appeal to the youth, driving more growth and fostering technological progress in the field.
Even though China is known to be a tight regulator of gambling and regulated sports betting, it has been one of the most innovative ones in that field. The country has been pushing ahead with some very impressive technological innovations and the AGTech Holdings augmented reality contract will take the gaming innovation portfolio to even greater heights. Unfortunately, the company is yet to release any financial details as part of the filing.
More on AGTech
AGTech Holdings has a lot of success in the lottery market and this is what makes it a perfect fit for the Chine Sports Lottery. Last year, in June, the company announced that it had won a contract to supply all the lottery terminals to several Chinese cities including Hebei, Guizhou, and Shanghai. In addition to that, the company was also responsible for supplying lottery terminals as part of yet another contract with the Sports Lottery Administration Center that is located in Henan.
Within the same period, AGTech also went further to sign a strategic agreement with the Jiangsu Province Sports Lottery Administration Center – this was part of an extensive plan that created a collaborative effort aimed at promoting some new and exciting innovations in the lottery business. The focus areas, in this case, were promotion, marketing, and research as well as the development of new and more enticing lottery games for their customers.
Moreover, AGTech has been linked to a number of ventures across the eastern and southern Asia including the Paytm Group which they partnered with in July 2017 as part of an effort to venture into the Indian online gaming market. Perhaps one of the most exciting aspects of this partnership was the fact that it eventually resulted in the development of a new digital wallet and e-payment system.