Macau | 2018 unlikely to see the same record breaking property investments as previous year - JLL Macau Managing Director
| 08:45am
Ex-CIA officer arrested for retaining classified information
| 08:30am
Macau | Project resolution on Sulu Sou's suspension to be debated today
| 07:45am
Macau | Proposed government measures to solve Macau's housing problems ineffective - JLL Macau
| 16 Jan
Macau | Law for the management of MSAR territorial waters approved unanimously – AL
| 16 Jan
Macau | VIP gaming revenues up 26.6 pct y-o-y to MOP150.67 bln in 2017
| 16 Jan
Macau | Law ruling on employment agencies' activity approved - AL
| 16 Jan
Macau | Local property market to remain stable in 2018 - JLL Macau
| 16 Jan
Bangladesh agrees with Myanmar to complete Rohingya return in two years
| 16 Jan
Macau | 2016 Budget law approved unanimously, Secretary claims increasing oversight of public companies
| 16 Jan

Former Melco-owned company sees near-90 pct increase in Q2 losses y-o-y

500.com Limited, a lottery service provider operating in mainland China, has recorded net revenue of RMB19.3 million (US$2.86 million/MOP23.07 million) in the second quarter ended June 30, an increase of nearly 5 per cent from a year earlier, according to the financial results announced by the company in a release. The company noted that net […]

500.com Limited, a lottery service provider operating in mainland China, has recorded net revenue of RMB19.3 million (US$2.86 million/MOP23.07 million) in the second quarter ended June 30, an increase of nearly 5 per cent from a year earlier, according to the financial results announced by the company in a release.
The company noted that net revenues for the period were primarily generated from mobile gaming and sports information services, which the company launched in the fourth quarter of 2016.
Net loss attributable to the company was RMB52.6 million over the quarter however, an 89.9 per cent increase year-on-year.
In early June, 500.com completed the acquisition of 40.65 per cent of the issued shared capital of MelcoLot Limited – then a subsidiary of Melco International Development Limited – for a total consideration of HK$322.23 million (US$ US$41.39 million/MOP332.92 million).
Pursuant to the agreement, Lawrence Ho Yau Lung’s Melco International has no further interest in MelcoLot.
In July of this year, 500.com also acquired The Multi Group, a company principally engaged in the lottery and online casino business.

OPINION

716 POSTS0 COMMENTS
234 POSTS0 COMMENTS
187 POSTS0 COMMENTS
103 POSTS0 COMMENTS