7th Apr 2015 08:31
LONDON (Alliance News) - Chinese regulated lottery products company DJI Holdings PLC on Tuesday reiterated that it does not expect to take a material hit from the temporary suspension of online lottery sales in China as it welcomed backing from a number of local government authorities in China for the industry.
DJI said eight government authorities in China have outlined their commitment to promoting legal and licensed participants in the lottery industry in the country and the importance of an online element to the lottery games.
In March, DJI said lottery sales would be materially reduced across China after a number of provincial lottery centres stopped accepting online orders on March 1 as they undergo self-inspection processes. The decision was made in response to legislation handed down by the Chinese Ministry of Finance, Ministry of Civil Affairs and the General Administration of Sports.
DJI said at the time it expects online lottery sales to restart in the near future and that the suspension would not have a material impact on its 2015 results. It reiterated that view on Tuesday, saying it remains confident the suspension will not hit its results and that trading will begin again soon, though the suspension remains in place.
Shares in DJI were up 2.4% to 60.90 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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