Lottery supplier MelcoLot Ltd posted a net loss of HK$37.4 million (US$4.8 million) in the three months ended September 30, compared with HK$9.9 million a year earlier.

The company, which is listed on the Hong Kong Stock Exchange’s Growth Enterprise Market, said in a filing on Thursday that it posted quarterly revenue of HK$11.8 million, up 5% year-on-year. Employee benefits rose nearly 370% to HK$38.7 million, mainly due to an August stock option grant event benefiting Macau casino investor Lawrence Ho Yau-lung (pictured) and seven directors.

Melcorot supplies lottery terminals and related products to two state-owned lottery operators in mainland China. The company is controlled by Melco International Development Ltd., led by Ho. Greece-based lottery supplier Intralot SA is also a real shareholder of Melcorot.

For the nine months ended Sept. 30, Melcorot’s total revenue was HK$34.4 million, down 20% year-over-year due to lower lottery terminal and hardware sales. “The group has adopted a low pricing strategy to maintain market share despite slowing demand,” it said. 카지노사이트

In August, Melcorot confirmed it had submitted a bid to Spanish authorities to operate a casino in Barcelona.