International Game Technology (IGT) has teamed with Shenzhen Tian Lian Cai Investment Co. Ltd., a subsidiary of Telling Telecommunication Holding Co. to sell Lottery tickets in China. Both expect the venture to launch in the third quarter of this year.
Telling will own a 51 percent controlling interest of the new venture and IGT will own 49 percent.
Besides selling lottery tickets the partnership will “conduct independent market operations, business development and technological innovations in China, subject to Chinese regulatory and licensing approvals,” said the two companies.
IGT CEO Walter Bugno commented, “IGT is excited to join forces with a company of Telling’s stature and provide our latest technology and innovations to the growing Chinese lottery market.” He added, “As the lottery market continues to change and the regulatory framework evolves, we believe that this partnership will be ideally positioned to successfully participate in China’s bright lottery industry future.”
Telling Telecommunication Holding Co Ltd. Chairman Huang Shaowen commented: “By working together, we will bring the world’s most advanced technology, games and operational best practices to China, enrich players’ experiences, help advance the Chinese lottery industry into a new era, and enhance its contribution to China’s social welfare.”
