Compliance Updates
500.com Limited Malta-Based Subsidiary Temporarily Suspends Operations in Sweden

500.com Limited, a leading online sports lottery service provider in China, today announced that the The Multi Group (“TMG”), a Malta-based subsidiary of the Company, has temporarily suspended its operations in Sweden as TMG did not complete the eGaming license renewal before its expiration.
TMG is in close communication with Sweden’s eGaming regulatory authority and expects to renew its license and resume operations in Sweden in mid-February 2020.
The Company expects that revenues from TMG during the first quarter of 2020 will be materially and adversely impacted by the temporary suspension of operations in Sweden. Revenue generated by TMG accounted for approximately 99.1% of the Company’s total net revenues during the third quarter of 2019, of which approximately 61.3% was generated from Sweden.
About 500.com Limited:
500.com Limited (NYSE: WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China.
SOURCE 500.com Limited
-
Asia6 days ago
BETBY TRIUMPHS AT SiGMA ASIA MANILA, WINNING BEST ESPORTS PROVIDER AWARD
-
Interviews6 days ago
Bet Builder Q&A w/Abelson Sports’ CBO Jeevan Jeyaratnam
-
Conferences in Europe6 days ago
WiseGaming ready to showcase agile platform at SBC Malta
-
Latest News6 days ago
Nolimit City revisits our favourite dwarf in Fire In The Hole 3
-
Latest News6 days ago
Oddschecker Announces Key Grid Position Updates
-
Asia6 days ago
FANATICS BETTING AND GAMING COMES TO THE PHILIPPINES AS CLAYMORE DEAL BOOSTS ECONOMY
-
Gambling in the USA6 days ago
Gaming Americas Weekly Roundup – May 26-June 1
-
eSports6 days ago
Revenant XSpark Triumphs at OMEN VALORANT Challengers South Asia 2025 Split 2 LAN Finals