August 17, 2016
New York-listed Chinese sports lottery operator 500.com, has reported its sixth straight quarter with no corporate revenues, as concerns continue to mount regarding the firm’s future. 500.com is still under ‘temporary’ suspension of its lottery services issued by the Chinese Ministry of Finance, who in April 2015 placed a ban on all lottery transactions via online or third party networks. …
Read More »May 20, 2015
Chinese sports lottery operator 500.com confirmed that Founder Man San Law was stepping down as CEO of the company, following the publication of dismal performance results for Q1 2015 operating period. The operator missed all key performance targets, as it recorded sales of $15.9 million down 32% on 2014 figures. The New York listed lottery operator would record a net …
Read More »March 16, 2015
New York listed Chinese sports lottery operator 500.com has been hit with multiple US investor class action federal suites over misrepresentation of its business practices and operations in the build up to its December 2013 IPO. A group of US law firms representing 500.com investors have filed a federal securities fraud class action against the operator. They claim that the …
Read More »February 26, 2015
The share price of Chinese New York listed sports lottery operator 500.com, fell to a 12 month low ($9.50) following the announcement that a number of Chinese provincial lottery sales hubs would temporary suspend sales of lottery products. The decision by the sanctioned provincial hubs to suspend sales follows the Chinese Ministry of Finance calls for self-regulation of unauthorised lotter …
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