ï»¿Chinese On Line Lottery 500.com Pays Off Well for Investors
Chinese on the web lottery 500.com has entered the ny Stock Exchange, and seems to be winning (Image: Wan Li/China Daily)
Investors in Chinese online lottery platform 500.com Ltd. are off to a start that is happy the New 12 months; within the six months since its New York Stock Exchange birth, the value for the company has almost tripled from its initial public offering cost of $13.
Winning the Lottery Lottery
As the only Chinese lottery firm become listed in the United States, 500.com is one of just a handful of companies set to benefit from the Chinese government’s whittling down of thousands of private lottery operators, because they license and regulate the industry to just a little number of businesses. Every one of these will ultimately be vying for a prospective market of over 400 million lottery players in the nation.
‘Over the next five years it’s very clear that the Chinese market will continue steadily to develop quickly while the federal government regulatory regime becomes more open and transparent,’ explained 500.com’s primary financial officer Zhengming Pan.
China’s lottery market has flourished remarkably in recent years, many thanks to a rise in disposable earnings through the country, in addition to a appetite that is national gambling and advancements in gaming technology. Because of this, China’s lottery spending reached $23 billion in 2012, while the U.S. the largest lottery market in the […]