Man San Law resigns as Chairman of

Updating investors, embattled New York-listed Chinese sports lottery operator has confirmed that Chairman of the Board Man San Law has stepped down from the governance position with immediate effect.

San Law’s position will be split with director Lian Qi taking on the responsibilities of Chairmanship, supported by Bo Yu who will act as Director of Governance, a decision which was implemented this 20 January

The departure sees San Law end his turbulent Chairmanship of the embattled firm, in which has announced seven straight quarters with no corporate revenues, since its ‘temporary suspension’ of lottery services by the Chinese Ministry of Finance (implemented on April 2015).

In its last trading update, the lottery operator reported a combined operating loss of f RMB 186 million (circa $21 million).’s fragile position has made industry analysts comment on how long the company can survive without any revenue streams.

Furthermore, faces several US legal challenges from Its investors for misrepresentations of its assets and operations in the build up to its October 2015 IPO.

At present, the governance of did not make an official comment on San Law’s departure.

Check Also

Brandt Iden: Sportradar – “US states taking a new approach to mobile wagering”

Brandt Iden, Head of Government Affairs at Sportradar, shares his views on how states that …

Catena looks West as Euro impairments stunt 2021 growth  

Catena Media Plc has underlined its long-term growth strategy and ongoing international expansion projects, as …

Google updates policy terms for NY sportsbook advertising

Google has updated its ‘US Gambling and Games’ advertising policy to allow for certified and state-licensed …