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SMALLER LOSSES FOR CHINA-FACING ONLINE LOTTERY PROVIDER
But Chinese suspension continues to drag on 500.com performance.
Zhengming Pan, CEO of the China-facing online lottery provider 500.com, again flagged the long-running government suspension of sports lottery services in China in posting Q2-2016 results this week, noting:
"We voluntarily and temporarily suspended our online lottery sales operations in response to the promulgation of the Self-Inspection Notice. Such temporary and voluntary suspension materially and adversely impacted our financial and operational results for the second quarter of 2016.”
However, the company reported that its net losses on a year-on-year bases were lower at RMB 27.7 million ($4.2 million) compared to the net loss of RMB 81.4 million in Q2-2015, and that it had generated net revenue of RMB 1.2 million compared with the nil return registered in the same period last year.
The company anxiously awaits notification from the Ministry of Finance regarding a resumption date for online sports lottery sales.
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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