Tag Archives: wall street

500.com sells stake in payment processor Sumpay

SBC News 500.com sells stake in payment processor Sumpay

Issuing a short market update, embattled New York-listed Chinese sports lottery operator 500.com has disclosed the sale of its 63% equity stake in Asian digital payment processor Sumpay.cn ( Sumpay). Payment processor, Sumpay, is licensed to provide third-party payment services in Chin. 500.com revealed that it had invested in Sumpay holding company Zhejiang Shangmeng Technology in December 2015 for a cash consideration …

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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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