Thursday August 7,2014 : 500.COM IN MAJOR CHINESE MOBILE DEAL
Nasdaq-listed company will become China Mobile's sole online sports lottery provider.
The rapidly growing Nasdaq-listed sports lottery firm 500.com has clinched a major two-year deal that will see it become the sole provider of online sports lottery products to the state-owned China Mobile, which operates the huge Points Mall online marketplace.
Points Mall online marketplace is an enterprise that has 770 million subscribers, who redeem loyalty points.
China Mobile subscribers will be able to use their loyalty points to buy online sports lottery products through 500.com as a result of the agreement.
Man San Law, founder, chairman and CEO of 500.com said Thursday: “We expect to see sales volumes increase significantly as our products become available to China Mobile's 770 million subscribers.
“We look forward to developing an even deeper relationship with China Mobile as we work to integrate our products into their vast ecosystem.”
The products provided by the company will be available in all of China's 31 provinces, municipalities and autonomous regions. China Mobile will reimburse 500.com for the products purchased in cash.
500.com provides lottery purchase and information services to China Mobile users through its internet, mobile apps, WAP and SMS channels.