Chinese online lottery 500.com has entered the New York Stock market, and appears to be winning (Image: Wan Li/China frequent)
Investors in Chinese lottery that is online 500.com Ltd. are off to a happy start to the New 12 months; within the six months since its nyc Stock Exchange birth, the value regarding the company has almost tripled from the initial public offering cost of $13.
Winning the Lottery Lottery
As the only Chinese lottery company to be listed in the United States, 500.com is one of merely a handful of companies 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 firms. Most of these will ultimately be vying for the market that is potential of 400 million lottery players in the nation.
‘Over the next five years it is very clear that the Chinese market will continue to develop rapidly while the government regulatory regime will end up more open and transparent,’ explained 500.com’s primary economic officer Zhengming Pan.
China’s lottery market has taken off remarkably in recent years, many thanks to a rise in disposable income through the entire country, in addition to a national appetite for gambling and advancements in gaming technology. Because of this, China’s lottery spending reached $23 billion in 2012, while the U.S. the lottery market that is largest in the world was still stau Læs videre “Chinese On Line Lottery 500.com Pays Off Well for Investors”