Chinese on the web lottery 500.com has entered the ny Stock Exchange, 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; into the six weeks since its New York Stock market birth, the value associated with the company has almost tripled from the initial public offering price of $13.
Winning the Lottery Lottery
As the only Chinese lottery company become listed in the United States, 500.com is one of only a handful of businesses 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. All of these will ultimately be vying for a possible market of over 400 million lottery players in the united states.
‘Over the next 5 years it is very clear that the Chinese market will continue steadily to develop quickly and the government regulatory regime will become more open and transparent,’ explained 500.com’s Chief officer that is financial Pan.
China’s lottery market has flourished remarkably in recent years, many thanks to an increase in disposable income through the entire 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 plane Continue reading Chinese Online Lottery 500.com Pays Off Nicely for Investors