Date
21 January 2017
Hoffman Ma says Success Universe Group will focus on its investments in travel agencies and casinos. Photo: HKEJ
Hoffman Ma says Success Universe Group will focus on its investments in travel agencies and casinos. Photo: HKEJ

HK group sees online lottery revenue dry up after China ban

Success Universe Group Ltd. (00487.HK), which invests in casinos and travel agencies, is hurting from a ban on online lottery in mainland China, the Hong Kong Economic Journal reported Thursday.

The company made HK$201 million (US$25.92 million) from online lottery last year but revenue from the segment has stopped since the ban began in February, the report said, citing deputy chairman Hoffman Ma.

Ma said the company will focus on its investments in travel agencies and casinos, with plans to tap the mass gaming market.

Also, it is planning to invest in electronic gaming.

Initially, it will install 100 gaming machines, leaving room for a further 100 units in the future.

The Hong Kong-listed company is also seeking government approval for a catering business serving street snacks.

It owns Jade Holiday Travel, one of the biggest tour operators in North America. 

Translation by Vey Wong

[Chinese version中文版]

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