Chinese on the web lottery 500.com has entered the New York Stock market, and appears to be winning (Image: Wan Li/China frequent)
Investors in Chinese online lottery platform 500.com Ltd. are off to a happy begin to the New 12 months; in the six months since its nyc Stock Exchange birth, the value associated with the company has almost tripled from the initial public providing 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 organizations set to enjoy the Chinese government’s whittling down of thousands of private lottery operators, as they permit and regulate the industry to just a small number of companies. Each 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 is very clear that the Chinese market will continue to develop very quickly as well as the federal government regulatory regime can be more open and transparent,’ explained 500.com’s Chief officer that is financial Pan.
China’s lottery market has taken off remarkably in recent years, thanks to a rise in disposable earnings through the entire country, in addition to a nationwide appetite for gambling and advancements in gaming technology. Because of this, Asia’s lottery spending reached $23 billion in 2012, while the U.S. the largest lottery market in the world end ادامه مطلب