Tag Archives: china

Investors sue 500.com over misleading IPO representation

New York listed Chinese sports lottery operator 500.com has been hit with multiple US investor class action federal suites over misrepresentation of its business practices and operations in the build up to its December 2013 IPO. A group of US law firms representing 500.com investors have filed a federal securities fraud class action against the operator. They claim that the …

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Betfred becomes title sponsor of World Snooker Championship again

Snooker’s biggest tournament, the World Championship, will be title-sponsored by Betfred for the next three years. The prestigious event will be known as the Betfred World Snooker Championship until at least 2017. This year’s tournament will run from April 18 to May 4 at the Crucible Theatre in Sheffield, with the top 16 seeds joined by 16 qualifiers to chase …

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Warwick Bartlett on tax – The Only Way is Up

 Warwick Bartlett, CEO of Global Betting and Gaming Consultants, discusses how government’s approach taxation means that rates are more likely to go up than down. The most pleasing sight at ICE 2015 was to see some of the younger companies which two years ago took the smallest booths are now spending upward of £250,000 on impressive stands.  Such companies have …

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500.com growth not matching the market

500.com Ltd, the NYSE-listed online sports-lottery operator in China, has reported a 44% drop in operating profit and warning that ticket purchases may decline further this quarter. Founder, Chairman and Chief Executive Officer Man San Law commented: “We finished the year on a strong note with net revenues increasing 52.1% year-over-year. Total purchase amount during the quarter increased 63.7% from …

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London Baby Sponsor Profile: Vermantia

Vermantia’s Tony Plaskow explains what his firm has in store for ICE Totally Gaming and London Baby! What has your company and its services and operations learned from 2014? 2014 was a transformative year for Vermantia with significant corporate development, new content development and several new Tier 1 operators signed up to promote our content. Alongside the heavy investment into …

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Chinese Security targets major crime syndicates in Macau

Macau’s is set to be targeted by Chinese security chiefs who are preparing to launch a top tier offensive against money laundering and financial crime. China’s Ministry of Public Security will lead the clampdown in Asia’s gambling capital, as Chinese officials aim to attack major crime syndicates operating in Macau. The clampdown forms part President Xi Jinping’s ongoing war on …

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Risky business – why investors should beware grey market operators

Scott Longley, editorial director at Regulus Insights, analyses the concept of risk for dotcom operators and their investors. The 9% share price fall that prompted Playtech to issue a stock exchange statement late last week was only the most recent example of how listed gambling companies suffer more than most from the financial market phenomenon of risk on/risk off. This …

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500.com File For US IPO

Chinese digital lottery and sports betting operator 500.com has filed for a $150m initial public offering. The Chinese operator has yet to declare how many US depositary shares it is willing to to offer in its initial filing. 500.com has applied to list on the New York Stock Exchange under the symbol WBAI. Deutsche Bank AG is managing the offering. …

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