500.com makes play to acquire China lottery tech firm MelcoLot
BY Peter Amsel ON May 29, 2017
"Online sports lottery technology provider 500.com has made a play to acquire land-based lottery technology firm MelcoLot Ltd. in a bid to diversify its revenue stream."...
"
Until a couple years ago, 500.com was one of two companies that Beijing had approved to take part in a pilot program of online lottery sales. But Beijing ‘temporarily’ suspended online sales in March 2015, and ever since, 500.com hasn’t earned a dime from the lottery business, prompting the need to find some other reason for existing until Beijing changes its mind.
In December 2015, 500.com sought to diversify its business model by acquiring an online payment processor, but re-sold the business for a tidy profit after only about six months. Last November, 500.com acquired a social poker business, and last Friday, it acquired the parent company of Nordic-facing online lottery betting and casino operator Multilotto.com."
Starting to see strategic plays within this sector...DYOR
Cheers
lottery sector market consolidation?
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add ODA (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $27.06M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 16.0¢ | 15.0¢ | $1.187K | 7.488K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 60282 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.5¢ | 22198 | 1 |
View Market Depth
| Last trade - 14.31pm 02/08/2024 (20 minute delay) ? |
| ODA (ASX) Chart |