Revenues Up But Losses Widen At Agtech

Share-based compensation costs and other expenses more than double losses

Investors in Chinese lottery services and games provider AGTech will have mixed feelings on its latest results, which showcase significant increases in revenues but widening losses due to share-based compensation costs and other expenses.

Nevertheless, Management remains confident that the outlook is positive for the company, according to a company statement Wednesday.

Third quarter revenues soared to $53.13 million (Q3-2013: $22.37 million) but losses widened to $48.3 million from $22.2 million a year ago.

The company is optimistic, reporting that its partners at China's Sports Lottery have completed the "next generation" national high frequency game platform to carry its Lucky Racing game, which will be supplied to a wider range of Chinese provinces in the coming months.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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