Dynasty In New China Deal With BetEx
Published: Wednesday, December 13, 2006 Online-Casinos.com
DYNASTY IN NEW CHINA DEAL WITH BETEX
Lottery moves in China have a big future
Fast-moving Dynasty Gaming, which has sealed a number of mahjong deals this year is aiming to become an Asian-focused gaming content provider through strategic alliances with China oriented companies.
In its latest move, the company has signed a letter of intent with the U.K.-based Betex Group plc under which Betex and Dynasty will form a joint venture aimed at positioning Dynasty favourably in the Chinese market. Betex is a company chaired by Dr. Johnny Hon, who has established himself as one of the leading entrepreneurs helping Chinese companies to gain a foothold in the U.K. and assisting with UK public company listings.
Betex is the first non-Chinese company to be granted the right to co-manage a number of government-owned sports lotteries and to be officially involved in lottery operations in mainland China. The Government of China is committed over the next three years to capturing much of the currently illegal gaming market, estimated by Peking University's Center for Lottery Research, at a surprising US $75 billion.
Albert Barbusci, chief executive of Dynasty Gaming said, "By linking with Betex, Dynasty is ideally positioned to participate in the burgeoning Chinese gaming market, which many analysts believe will soon become the second largest gaming market in the world."
Commenting on the agreement with Dynasty, Dr. Hon stated, "By virtue of Betex being the first foreign investor in the Chinese sports lotteries, we have developed a thorough understanding of the enormous China gaming market potential. We have already established retail lottery outlets where people can, for the first time, legally place bets on the outcome of a single football match, and are in the process of preparing a sales channel for a mobile lottery across various Chinese provinces.
"If we are able to add a version of Dynasty's mahjong, we would hope to help the government to recover a large share of the money currently being channeled through underground casinos, black market sports betting and illicit lotteries."
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