Lottery system provider Intralot said yesterday it has agreed to buy a 21 percent stake in Chinese gamer Melco LottVentures for 27.4 million euros.

“This significant acquisition and strategic cooperation further strengthens our considerable position in Asia,” said Intralot CEO Constantinos Antonopoulos. “We are confident that, through this partnership, we will be successful in the highly promising Chinese market, one of our primary strategic goals in the Asia Pacific.”

Intralot and MLV intend to enter into additional discussions regarding a further increase of Intralot’s participation in MLV, which will be the main vehicle for lottery and gaming business in China and possible expansion in Asia. MLV develops and provides technology systems and services for use in lottery operations in China and Asia.