Chinese on the web lottery 500.com has entered the ny Stock market, and is apparently winning (Image: Wan Li/China everyday)
Investors in Chinese online lottery platform 500.com Ltd. are off to a start that is happy the New 12 months; into the six days since its ny Stock market birth, the value regarding the company has almost tripled from its initial public offering cost of $13.
Winning the Lottery Lottery
As the only lottery that is chinese become listed in the United States, 500.com is one of merely a handful of businesses set to take advantage of the Chinese government’s whittling down of thousands of private lottery operators, as they license and regulate the industry to just a small number of firms. Most of these will ultimately be vying for a prospective market of over 400 million lottery players in the country.
‘Over the next five years it is very clear that the market that is chinese continue to grow rapidly therefore the government regulatory regime will become more open and transparent,’ explained 500.com’s chief economic officer Zhengming Pan.
China’s lottery market has taken off remarkably in recent years, many thanks to an increase in disposable earnings 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 lottery market that is largest in th Continue reading