Tag Archives: Man San Law

Man San Law resigns as Chairman of 500.com

SBC News Man San Law resigns as Chairman of 500.com

Updating investors, embattled New York-listed Chinese sports lottery operator 500.com 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 …

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500.com appoints Angel Yan Ki Wong as independent director

SBC News 500.com appoints Angel Yan Ki Wong as independent director

Chinese sports lottery operator 500.com has confirmed the appointment of Angel Yan Ki Wong as a new independent director Ki Wong who at present serves as Executive Director of Asian IPO and M&A management consultancy Advanced Capital  will consult the lottery operator on new governance initiatives and corporate investments. 500.com  further confirmed that Ki Wong  would serve as Chairlady of …

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Concerns arise as 500.com reports consecutive quarter with no revenues & earnings

SBC News Concerns arise as 500.com reports consecutive quarter with no revenues & earnings

Investor concerns continue to mount for troubled New York listed Chinese lottery operator 500.com, following the announcement of a further quarter with no revenues and earnings for Q3 2015. The Shenzhen based lottery operator posted its second earnings results, since the temporary sales suspension of provincial lottery services by China’s Ministry of Finance, which was imposed in February. Due to …

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China state owned Tsinghua Unigroup invests $124 million in 500.com

SBC News China state owned Tsinghua Unigroup invests $124 million in 500.com

Chinese state-owned fund Tsinghua Unigroup International is reported to have invested $124 million (£80 million) for a 15.2% stake in New York listed Chinese sports lottery operator 500.com, through a purchase of newly distributed shares. Business news sources have reported that Tsinghua will acquire a total of 63.5 million shares in 500.com. The news of the stake purchase by Tsinghua …

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500.com founder Man San Law steps down as CEO following dismal Q1 performance

SBC News 500.com founder Man San Law steps down as CEO following dismal Q1 performance

Chinese sports lottery operator 500.com confirmed that Founder Man San Law was stepping down as CEO of the company, following the publication of dismal performance results for Q1 2015 operating period. The operator missed all key performance targets, as it recorded sales of $15.9 million down 32% on 2014 figures. The New York listed lottery operator would record a net …

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500.com value hit by lottery sales suspension and negative rumours

SBC News 500.com value hit by lottery sales suspension and negative rumours

The share price of Chinese New York listed sports lottery operator 500.com, fell to a 12 month low ($9.50) following the announcement that a number of Chinese provincial lottery sales hubs would temporary suspend sales of lottery products. The decision by the sanctioned provincial hubs to suspend sales follows the Chinese Ministry of Finance calls for self-regulation of unauthorised lotter …

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500.com confirms loyalty partnership with China Mobile

SBC News 500.com confirms loyalty partnership with China Mobile

Chinese sports lottery operator 500.com, has entered a strategic partnership with China Mobile Limited, to become the sole provider of online and mobile sports betting and lottery for China Mobile Points Mall, the digital rewards marketplace for China Mobile subscribers. The agreement will see 500.com products integrated into the China Mobiles subscriber reward system, providing the operator with access to …

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