Chinese online lottery 500.com has entered the ny Stock market, and seems to be winning (Image: Wan Li/China Daily)
Investors in Chinese lottery that is online 500.com Ltd. are off to a start that is happy the New 12 months; in the six months since its New York Stock Exchange birth, the value for the company has almost tripled from its initial public providing price of $13.
Winning the Lottery Lottery
As the only Chinese lottery company become listed in the United States, 500.com is one of merely a handful of organizations set to enjoy 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 firms. Most of these will ultimately be vying for the prospective market of over 400 million lottery players in the country.
‘Over the next 5 years it is very clear that the Chinese market will continue steadily to grow quickly plus the government regulatory regime can be more open and transparent,’ explained 500.com’s main monetary officer Zhengming Pan.
China’s lottery market has flourished remarkably in recent years, many thanks to a rise in disposable income through the entire country, as well as a appetite that is national gambling and advancements in gaming technology. Because of this, Asia’s lottery spending reached $23 billion in 2012, while the U.S. the largest lottery market in the entire world was still staunchly in th