{"id":14443,"date":"2021-02-09T15:59:46","date_gmt":"2021-02-09T15:59:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=14443"},"modified":"2026-04-23T21:59:16","modified_gmt":"2026-04-24T00:59:16","slug":"500-com-reports-us21-5m-loss-for-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/500-com-reports-us21-5m-loss-for-2020","title":{"rendered":"500.com reports US$21.5m loss for 2020"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Revenues fell 45.9 per cent year-on-year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">China.- The Chinese lottery services provider<strong>\u00a0500.com<\/strong> has reported <strong>an adjusted net loss of RMB138.5m (US$ 21.5m)<\/strong> for full-year 2020.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The loss for the last quarter was RMB56.1m (US$ 8.6m), compared to a loss of RMB322.7m (US$ 50m) in the last three months of 2019. The reduction in losses was due to <strong>lower operating expenses and the absence of previous impairment provisions<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net revenue for the last quarter of 2020 was <strong>RMB9m (US$1.4m), a slight increase from the RMB8.6m <\/strong>in Q4 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The<strong> company\u2019s online lottery betting and online casino in Europe<\/strong>, accounted for 62.2 per cent of total net revenues.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">500.com recently announced plans to <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/500-com-to-acquire-bitcoin-mining-machines\" target=\"_blank\">explore opportunities in blockchain and cryptocurrency<\/a><\/em>, entering into a definitive purchase agreement to acquire 5,900 bitcoin mining machines at a cost of RMB55.2m (US$8.5m).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Revenues fell 45.9 per cent year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":0,"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, a Chinese lottery services provider, reported an adjusted net loss of RMB138.5m for FY2020, with revenues declining 45.9% year-on-year. The company's European online casino and lottery operations contributed over 60% of Q4 2020 net revenues. Concurrently, 500.com is pivoting strategically into blockchain and cryptocurrency, evidenced by a definitive agreement to acquire Bitcoin mining machines.","focusai_entities":"500.com","focusai_location":"China, Europe","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.7), tech_data (0.85), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Crypto Pivot Rationale?","query":"What is the strategic rationale behind 500.com's significant pivot into Bitcoin mining and blockchain, given its established iGaming and lottery operations, and what are the projected capital allocation and ROI expectations for this new vertical?"},{"label":"European iGaming Impact?","query":"How will the strategic focus on cryptocurrency impact 500.com's investment and operational commitment to its European online casino and lottery betting segments, which currently constitute a majority of its net revenues?"}],"footnotes":""},"categories":[16338,163],"tags":[1758,23919],"class_list":["post-14443","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","tag-500-com","tag-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14443","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14443"}],"version-history":[{"count":9,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14443\/revisions"}],"predecessor-version":[{"id":14467,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14443\/revisions\/14467"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}