Chinese on the web lottery 500.com has entered the ny Stock Exchange, and is apparently winning (Image: Wan Li/China frequent)
Investors in Chinese lottery that is online 500.com Ltd. are off to a happy begin to the New Year; into the six weeks since its ny Stock market birth, the value associated with 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 just a handful of companies set to take advantage of 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 businesses. All of these will ultimately be vying for the potential market of over 400 million lottery players in the united states.
‘Over the next five years it is very clear that the market that is chinese continue to grow very quickly and the federal government regulatory regime becomes more open and transparent,’ explained 500.com’s Chief officer that is financial Pan.
China’s lottery market has taken off remarkably in recent years, many thanks to a rise in disposable earnings through the entire country, as well as a nationwide appetite for gambling and advancements in gaming technology. As a result, China’s lottery spending reached $23 billion in 2012, while the U.S. the lottery market that is largest in the planet Читать далее