On the search for "Chinese" we found the following results:
The Chinese government’s suspension of online lottery activity (see previous reports) has had a telling effect on the commercial performance of Hong King-based 500.com, which posted its second quarter results Wednesday, noting that net revenues were nil, compared with RMB98.8 million (US$15.9 million) in Q1-2015, and RMB156.1 million in Q2-2014. The online lottery company’s operating …
Philippines Bureau of Immigration raids on an online gambling support centre in Pasay City last week resulted in the detention of 191 Chinese subjects suspected of illegal immigration offences, but 22 of them were released under suspicious circumstances before the group reached the immigration offices. The unauthorised release of the 22 suspects has prompted Immigration …
The British newspaper The Guardian has published a report that presents information from a confidential private investigation claiming Chinese officials suspect that Sheldon Adelson’s Las Vegas Sands casino in Macau is used by CIA and FBI agents to entrap and blackmail Chinese officials who visit Macau to gamble. The report, commissioned in 2010 by Las …
Last month’s announcement that China’s National Audit Office had discovered that 16.9 billion yuan raised through China’s lotteries in November and December last year had been embezzled or misused (see previous report) has been followed by the launch of a five-month improvement campaign by the Welfare Lottery – the nation’s biggest. Launching the campaign, China’s …
Panel speakers at the G2E Asia conference this week said that the suspension of Chinese online lottery activity by the Chinese authorities was an understandable move on the government’s part to bring more order and control to a rapidly expanding sector. The success of the booming online lottery business had been beyond expectations, with lottery …
The Hong Kong-based Chinese online lottery operator 500.com felt the pain of the Chinese government’s suspension of online ticket sales activity in its last quarter, but enjoyed increases in sales and revenue. Despite this, the company posted a net loss of RMB 52 million in its Q1-2015, blaming share-based compensation expenses and a RMB 30 …
Chinese lottery operators hit by February’s suspension orders from local authorities following a central government directive (see previous reports) will be relieved by the news Thursday that the suspensions may be lifted within the next 8 weeks. The news that the suspension may be lifted soon was broken by Tencent’s technology news website, which quoted …
The Chinese central government’s directive to provincial heads to review and clampdown on internet lottery sales earlier this month (see previous reports) was motivated by some operators failing to register all their ticket sales, a financial services company surmised this week. North Square Blue Oak focuses on the Asian markets and issues impacting them, and …
The news earlier this week that 500.com had temporarily suspended online lottery operations at the request of regulating authorities (see previous report) has been followed by reports of similar suspensions on other companies in the lucrative market. Alibaba Group Holding Ltd announced Saturday that it had suspended online lottery sales due to pressure from industry …
The Hong Kong-based and China-focused online lottery provider 500.com suffered a 15 percent decline in its share price this week amid rumours that the Chinese government could revoke its the licence. It was the biggest hammering the shares have taken in the past year, and took place despite, or perhaps as a result of, an …
The Chinese online sports lottery operator 500.com has warned that ticket sales may decline by as much as 3.3 percent this quarter after posting a 44 percent y-o-y decline in operating profits and noting that costs have doubled. The Shenzhen-based company’s stock pitched sharply down 6.1 percent to $18.01 following the warning, made necessary by …
Coinciding with Chinese premier Xi Jingpin’s warnings to Macau to tighten up its regulation of gambling (see previous reports), the Xinhua official news agency has published the latest figures in the government’s two-month-long intensified crackdown on gambling. The agency reports that over 30,000 people have so far been arrested during the anti-gambling drive, with the …
Perhaps motivated by a widespread drive against corruption in China, the vast country’s president, Xi Jinping, called for tighter controls over gambling as he ended a brief visit to the Macau special region this week. The Chinese leader called on regional authorities to strengthen supervision and improve the regulation of gambling on the island, which …
Online gambling software provider Microgaming has given internet punters something to look forward to early in 2015 with the preview publication on Youtube of a new 5 reel, 243 Ways-to-Win multi-featured video slot branded Gung Pow. The game has plenty of fireworks, both visually and within the features, which include free spins and the possibility …
Macau is too dependent on gambling and needs to diversify, the chairman of China’s Basic Law Committee, Li Fei, told Hong Kong media reporters this week, expressing opinions that are unlikely to boost the morale of operators in a market that has been declining for the past six months and shows little sign of immediate …
Malaysia is to turn to the human rights-challenged Chinese government for assistance in tackling illegal online gambling, corruption and prostitution, Minister of Home Affairs Datuk Seri Ahmad Zahid Hamidi told reporters Saturday after visiting an exhibition held in conjunction with the 60th anniversary of the Film Censorship Board. The Minister said there are plans to …
The publication China.org reports that police in China’s central Hunan province have broken up an internet gambling ring involving over 20 million yuan in wagers (US$3.2 million), arresting seven people and searching for a further 20 individuals believed to be involved. Over 200 officers were deployed in breaking up the ring, a police spokesman in …
China’s two main official lotteries, the Welfare Lottery and the Sports Lottery are garnering billions for local and national government and soared during 2013, reports the publication China.org. Total sales reached $49 billion in 2013 and are set to exceed that in 2014, China.org reports, observing that last year the Sports Lottery delivered sales worth …
A mobile internet application development and marketing firm based in Palo Alto, California has been awarded a sports lottery licence by the Chinese provincial body, the Fujian Administration of Sport and Gaming. XcelMobility Inc., says the licence it has received permits it to supply sportys lottery services using mobile devices. Ronald Strauss, executive chairman of …
Thousands of Chinese ruling party and provincial government officials have been shamed and punished for gambling since mid-2013, according to a report in the Shanghai Daily newspaper this week. A report published by the central government reveals that 7,162 officials were punished, based in more than 30 cities and provinces, with east China’s Zhejiang and …
Affiliate reports this week suggest that Bet365 is turning away new business from Chinese punters following an in-depth report in UK newspaper, The Guardian (see previous report). Bet365 responded at the time by saying: “In the view of bet365, and its lawyers, Chinese law does not extend to the provision of services into China by …
Leading British newspaper The Guardian has published an extensive report suggesting that gambling firm Bet365 is knowingly flouting Chinese law in offering online gambling to Chinese punters. The Guardian bases its report on documents it says it has in its possession, interviews with former and current bet365 employees, Freedom of information requests made to the …
Chinese high rolling gamblers are setting their sights on gambling destinations other than Macau as Chinese authorities clamp down on extravagance and corruption, Bloomberg reports. According to Morgan Stanley Hong Kong analyst Praveen Choudhary, Chinese gamblers are boosting growth in casinos from Manila to Las Vegas as they fly under the Chinese authorities’ radar, an …
Rumour and speculation arising from an investment conference followed by an online article that questioned to legality of licensing and other aspects of the successful and fast-growing Chinese sports lottery provider 500.com have prompted the company to issue a rebuttal as share prices declined. 500.com emphasised that: * Full disclosure on its business and operations …