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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.
Gambling News :
Live Dealer Now At Slotocash -
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Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
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MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
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