SmartTrans Holdings Ltd (ASX:SMA) is actively pursuing further expansion in the emerging lotteries sector in China, which has become one of the world’s largest markets by sales volume.
The company’s recently launched initial project in China’s Hainan province has progressed well to date, achieving expected objectives.
While still in the early stages of development, good sales were achieved in sports lotteries during the 2016 Olympics.
Furthermore, SmartTrans has been building its reputation in China having recently been appointed to the first academic lottery research institution in South China.
SmartTrans is well placed to benefit from longer term growth and development of the lotteries sector in China.
China’s total sports lottery sales were 166.4 billion yuan (~US$24.9 billion) in 2015.
SmartTrans is a smartphones payments provider and logistics software company.
It recorded $11.38 million revenue in FY16, 165% higher than FY15.
The lotteries pilot program progressing in Hainan represents another revenue stream for the company.
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