{"id":12033,"date":"2020-11-23T21:23:11","date_gmt":"2020-11-23T21:23:11","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=12033"},"modified":"2026-04-23T23:50:46","modified_gmt":"2026-04-24T02:50:46","slug":"500-com-revenue-up-69-4-on-previous-quarter","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/500-com-revenue-up-69-4-on-previous-quarter","title":{"rendered":"500.com revenue up 69.4% on previous quarter"},"content":{"rendered":"\n

The Chinese lottery services provider showed improvement in its Q3 results but was still down 37% on the same period in 2019.<\/p>\n\n\n\n\n\n\n\n

China.- The sports lottery service provider 500.com reported net revenues of RMB6.1m (US$936,307) for the third quarter, up 69.4 per cent from RMB3.6m in Q2.<\/p>\n\n\n\n

However, the figure is still 37.8 per cent below the RMB9.8 million (US$1.48 million) net revenues for the third quarter of 2019.<\/p>\n\n\n\n

This income came mainly from the online lottery and its online casino unit in Europe, which accounted for RMB3.3m (US$501,062)<\/p>\n\n\n\n

The net loss attributable to owners in Q3 was RMB44m (US$6.5m), compared with RMB86.3 million (US$13.1) for the second quarter.<\/p>\n\n\n\n

During the three-month period ending September 30, the company was able to resume lottery operations<\/a><\/em><\/strong> in Sweden, where they had been halted at the beginning of the year due to licence renewal issues.<\/p>\n\n\n\n

500.com said: \u201cThe year-over-year decrease was mainly attributable to a decrease of RMB6 million (US$911,023) resulting from the temporary suspension of operations in Sweden in 2020, which was partially offset by an increase of RMB2.8 million (US$425,144) in sports information services in China started in early 2020.\u201d<\/p>\n\n\n\n

Revenues from the Swedish subsidiary had generated approximately 89.7 per cent of the company’s total net revenues for the fiscal year ending December 31.<\/p>\n\n\n\n

During this quarter the lottery services provider also completed an internal investigation<\/a><\/em><\/strong> into a scandal in which the firm was accused of bribing Japanese lawmaker Tsukasa Akimoto in a bid to get insight into Japan’s IR policy.<\/p>\n\n\n\n

The investigation ultimately concluded there was not sufficient basis to establish a violation of the US Foreign Corrupt Practices Act of 1977 in connection with the company’s prior activities in Japan.<\/p>\n\n\n\n

The company will hold a general meeting on November 25 to discuss the results.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese lottery services provider showed improvement in its Q3 results but was still down 37% on the same period in 2019.<\/p>\n","protected":false},"author":2,"featured_media":12035,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"500.com reported improved Q3 net revenues of RMB6.1m, up 69.4% from Q2 but still 37.8% below Q3 2019, primarily driven by online lottery and its European online casino unit. The company resumed lottery operations in Sweden after license renewal issues and concluded an internal investigation into alleged bribery in Japan, finding insufficient basis for a US FCPA violation.","focusai_entities":"500.com, Tsukasa Akimoto","focusai_location":"China, Sweden, Europe, Japan","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.9), operator_casino (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q4 NGR Impact?","query":"What is the projected impact of the resumed Swedish lottery operations on 500.com's Net Gaming Revenue (NGR) for Q4 and the full fiscal year, considering its historical revenue contribution?"},{"label":"Governance Framework Evolution?","query":"How will the findings from the internal investigation into the alleged bribery scandal influence 500.com's corporate governance frameworks and its future market entry strategies in highly regulated jurisdictions?"}],"footnotes":""},"categories":[16338,163],"tags":[1758,227,3573],"class_list":["post-12033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-500-com","tag-china","tag-lottery"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12033"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12033\/revisions"}],"predecessor-version":[{"id":12044,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12033\/revisions\/12044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12035"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}