Chinese on the web lottery 500.com has entered the ny Stock Exchange, and appears to be winning (Image: Wan Li/China day-to-day)
Investors in Chinese online lottery platform 500.com Ltd. are off to a happy start to the New 12 months; within the six weeks since its nyc Stock Exchange birth, the value of the company has almost tripled from its initial public offering price of $13.
Winning the Lottery Lottery
As the only Chinese lottery firm become placed 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 permit and regulate the industry to just a little number of businesses. Most of these will ultimately be vying for the prospective market of over 400 million lottery players in the nation.
‘Over the next five years it is extremely clear that the Chinese market will continue to grow quickly and the federal government regulatory regime will end up more open and transparent,’ explained 500.com’s primary financial officer Zhengming Pan.
China’s lottery market has flourished remarkably in recent years, thanks to an increase in disposable income through the entire country, and a appetite that is national gambling and advancements in gaming technology. As a result, Asia’s lottery spending reached $23 billion in 2012, while the U.S. the lottery market that is largest in the planet was s Continue reading “Chinese Online Lottery 500.com Pays Off Nicely for Investors”