Betex China scratchcards
Betex Group PLC, the specialist lottery business in Asia, has announced it will invest £4.75 million in the launch of lottery scratchcards in Hebei in a deal with the Hebei Provincial Sports Lottery Management Centre (LMC).
The deal, which will run for ten years, will see LMC retaining regulatory approval and running the day-to-day management of the operation with Betex’s Chinese arm providing the investment for the roll out of the product.
LMC estimate that ticket sales over the ten year period will reach approximately £1.475 billion (RMB 22 billion), generating around £60 million for Betex under the terms of the agreement.
Gambling is increasingly popular in Asia and China is no different. The scratchcard market was worth $1 billion per year before their removal from the market amid claims of illicit operations.
“This is an extremely important and exciting deal for Betex,” said Peter Greenhill, chief executive of Betex.
“We believe that scratch cards will be a significant driver of growth in the lottery over the next ten years. Our involvement in the first new Sports lottery scratch card games underlines our long term commitment to the Chinese market, and this experience will stand us in good stead for securing additional similar opportunities,” Greenhill added.
The Chinese lottery market is the seventh biggest in the world, showing an impressive growth rate of 32 per cent over the last five years.
Editor, Jackpot.co.uk - 2007-02-12 12:05:01