7th Mar 2024 12:38
(Alliance News) - Intuitive Investments Group PLC on Thursday noted several contract wins by Hui10 Inc, its single largest investment.
Intuitive Investments is a London-based life sciences and technology investor, while Hui10 is a technology firm involved in the digital transformation of the Chinese lottery sector.
At present, Hui10 is focused on modernising China's lottery - which currently operates via paper tickets - through its fully integrated technology platforms. It has interests in both Huishi Dehua and Huishi Chunyuan, otherwise known as Lucky World.
Part of this modernisation process is implementing Lucky World's HongBao technology, which helps UnionPay business clients to run promotion and marketing campaigns.
Accordingly, Hui10 has secured contracts with Hebei Sports Lottery Centre, under which it will deploy its UnionPay POS terminals into 2,000 lottery shops in Hebei Province by the end of 2024.
Following this, the firm will then look to continue its rollout of HongBao across the entire estate of around 175,000 lottery shops in China.
Intuitive Investments on Thursday said these contracts "represent the next important stage of Hui10's strategy to increase lottery play participation rates across China".
Intuitive Investments Group shares went untraded on Thursday at noon, last quoted at 128.00 pence each on Wednesday.
By Holly Beveridge, Alliance News reporter
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