Gambling technology and equipment provider AGTech Holdings has partnered with Alibaba China through its wholly-owned Chinese subsidiary Beijing GOT Technology.
According to the partnership deal, AGTech will provide Alibaba China’s offline retail and lottery sales business with their latest equipment. The company has confirmed it would supply Alibaba China with point of sales (POS) terminals and facial recognition software that power the advanced payment processing systems.
In a statement to the press, commenting on the deal with Alibaba the gaming equipment provider said: “Alibaba Group’s new retail initiatives present a great opportunity for the further development of the group’s lottery hardware business… Many of these hardware supplies share similar designs, technologies, and components that underlie the lottery hardware products supplied by the group throughout the years.”
AGTech specializes in sales of lottery hardware. At present the company’s equipment power several lottery systems across China.
AGTech got itself in the Chinese market in 2018 winning 19 hardware contracts in the country. It was estimated that AGTech’s contracts covered 41% of the overall terminals used for the sports lottery in the mainland. However, the company continues with sustained growth and as per the current estimates it is now powering about 67 percent of the lottery business in China.
AGTech has said that as it continues to expand, the partnership with Alibaba is crucial and that there equipment will significantly impact their business in a positive way.
“Through Alibaba Group’s physical new retail distribution channel and networks, supplying the relevant hardware products in relation to Alibaba Group’s new retail initiatives allows the group to bring lottery opportunities and resources to more customers, therefore presenting direct opportunities for the further development of the group’s domain expertise of lottery technology and services,” the company said in a statement.
Gmabling is banned in China, except for Chinese-controlled territory of Macau. Only lotteries are allowed with reasonable restrictions.