arm legalization: the key to the
500 lottery network to IPO
November 22nd, 500 lottery network (0, 0, 0%) will be landing in the U.S. stock exchange, stock code WBAI, is expected to raise the maximum amount of $150 million. Its listing application, so that the Internet has been very low-key lottery industry, the first complete and clearly presented in front of the public.
with a grey Internet lottery, 500 lottery network based on how, and how to open the gate of capital market
500 lottery operator, Shenzhen yixunsky was founded in 2006, 500 lottery network, Chinese is the largest B2C Internet sports lottery information and trading platform. In China, the Internet lottery industry first appeared in 2001, and then gradually developed in 2007 to reach a peak. However, due to the lack of regulation, the market was very confusing, many sites are purchasing as a pretext to do the underground village, eat tickets and other gray or black transactions.
began in November 2007 to regulate the Internet lottery industry, the Ministry of finance, the State Sports General Administration, the Ministry of Civil Affairs has issued notice that, without approval, no unit or individual may use the Internet to sell lottery tickets. 2012, the competent authorities in the final determination, by way of Internet lottery business license approval, the Internet lottery market for the most direct specification and management. But a lot of Internet online lottery sales agencies, still take the past coping strategies, the collective pause business wait and see, the limelight in the past and then restart the lottery sales. The difference is that 500 lottery network has continued to make money in the gray zone tired, so not only the initiative to stop selling, but also to the competent authorities position, hoping to get standardized online lottery sales business qualifications.
for legalization: Chinese arm only has legal qualifications online lottery sales market mechanism
according to the financial world magazine reported that, for this reason, the 500 lottery network to pay the price, net profit from 2011’s $13 million 557 thousand dropped to $4 million 243 thousand in 2012 (according to the prospectus data). 500 lottery network losses may be more than this number." Informed sources told reporters, according to its size, in the 9 months of the initiative to stop sales, sales loss of at least 2 billion." But it is the courage to give up the interests of the gray initiative, making the 500 lottery network eventually approved by the Ministry of finance, becoming one of the two agencies licensed to carry out online sports lottery sales business. Another official platform for the State Sports General Administration of Sports Lottery Management Center, directly under the State Sports General administration. This means that the 500 lottery network is China’s only online lottery sales legal qualification of the market institutions.
in the past year, there have been a number of the original scale of the Internet lottery purchasing platform master