China lottery company signs Hainan deal days after Beijing push

Chinese lottery supplier China Vanguard You Champion Holdings has signed an agreement to expand sports lottery and online lottery products in Hainan, just days after China’s State Council included sports-betting expansion in a major economic plan for the island province.

The Hong Kong-listed company, which was formerly known as China Vanguard Group, inked the five-year deal on Wednesday with Hainan Huan Yu Assets Investment Co, a subsidiary of property developer Beijing Huan Yu Investment Group, according to a company filing on Thursday.