|PacificNet Inc has announced that its Chinese subsidiary, Guangdong Poly, has launched a new e-commerce website at Lot888.com for the sale and promotion of the nation’s Welfare Lottery.|
A leading provider of gaming technology, e-commerce and customer relationship management in the region, PacificNet stated that it had received legal authorisation from the China Welfare Lottery Center to sell gaming products under license. Guangdong Poly will receive approximately seven percent commission on each sale along with being able to charge a transaction fee on every transaction involving payment processing using China UnionPay.
'We are delighted to see the launch of the Lot888.com e-commerce lottery site operated by our Guangdong Poly subsidiary, a leading legal Welfare Lottery operator and distributor in China,' said Tony Tong, Chairman and Chief Executive Officer for PacificNet.
'The launch of this website is a step forward in PacificNet's plan to participate in China's rapidly growing state-sponsored legalised gaming and electronic lottery operations.
“China's lottery market surpassed ten billion dollars in 2006 and is expected to continue growing according to the Chinese Ministry of Finance, which oversees all of China's lottery sales. With our early entry into this rapidly growing and highly regulated market, we believe we are well-positioned for growth as a leading provider of lottery gaming technology and sales distribution services in the legal lottery market in China, which is one of the largest lottery markets in the world.'