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500.com to Acquire Majority Stake in Loto Interactive

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5 years ago

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500.com to Acquire Majority Stake in Loto Interactive
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500.com Limited has announced that it has entered into an agreement to acquire a majority stake in Loto Interactive Limited. 500.com will acquire 169,354,839 Loto Interactive shares for HK$105m (US$13.5m).

The Company currently owns approximately 33.7% of the issued share capital of Loto Interactive. Upon completion of the acquisition, the Company expects to own approximately 54.2% of the issued share capital of Loto Interactive and Loto Interactive is expected to become a subsidiary of the Company.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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