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The unrelenting pressure on both land and online gambling during the football World Cup – especially in Asia – has continued this week, with the Shanghai police reporting the arrest of 32 persons and the seizure of 2.4 million yuan ($386,400) in illegal wager funds. 11 main suspects among the 32 arrested were detained, with …
The massive amount of Asian – and particularly Chinese – betting on the current football World Cup has again underlined the huge potential of this deeply restricted market…and companies not directly involved in the wagering process are benefiting handsomely, reports the Agence France Presse news agency. The report centres on giant Internet technology companies like …
A conclusion was reached Thursday in what has been described as one of China’s biggest online gambling ring busts – and there have been a few – when a court Guangzhou, Guangdong province sentenced 68 defendants to terms of imprisonment ranging from 17 months to 9 years, depending on how deeply involved they were in …
Chinese television network CNTV reports that sales of sports lottery tickets are booming as a result of the World Cup football currently unfolding in Brazil. Statistics from China’s General Administration of Sport show that lottery sales related to the World Cup hit a new high by midday on June 21st… just 9 days into the …
The commercial clout of the business media was again illustrated last week when companies with an interest in online lottery activities in China found their share prices under siege following a misinterpreted report from a news agency that the government regarded all online lottery operations as illegal. So serious was the fall-out, China’s Ministry of …
Spurred on by complaints from microlenders and pawn shops who see as much as 40 percent erosion of their business through luckless gamblers resorting to bank cards rather than selling property to cover land gambling debts, the Chinese government has embarked on a crackdown at UnionPay, the only legal domestic bank-card organisation available to Chinese …
The Chinese online sports lottery operator 500.com has SEC-filed a follow-on trade and convertible bond offering that could raise $480 million. The New York-listed firm’s proposed American Depository Shares transaction is expected to contain a mix of primary and existing shares made available by two major shareholders – Brothers Union International and Clear Treasure Group. …
The government-approved Chinese sports lottery 500.com continues to present staggering statistics on its performance, and is hoping for even bigger revenues through its mobile operations and the addition of more social networking features to its lottery sales platform ahead of the FIFA World Cup. Last year 500.com sold more than 3 billion yuan (US$ 488 …
A court in Guangzhou district, in China’s Guangdong province, has started hearing the country’s largest illegal online gambling case, involving 484 billion yuan ($78.79 billion) in wagers, reports the Xinhua news service. The ring mainly attracted betting on international football matches via offshore gambling websites, but was also involved in illegal casino activity. Nineteen defendants …
The chief of forestry police in China’s Guangdong province has been removed from his post following revelations that he had wagered 1.05 million yuan ($170,000) in borrowed money on international football matches, using un-named online gambling websites. Police chief Ling Ziqun borrowed the money to bet from a man named only as Deng, with the …
The two former “Panda” hackers arrested late last year for running an online gambling operation in China have been sentenced to stiff jail terms in the Liandu People’s Court sitting in Lishui, Zhejiang province. The Chinese news agency Xinhua reports that Zhang Shun and Li Jun were sentenced to five and three years Wednesday as …
The virtual football joint venture of Ladbrokes and Hong Kong-registered AGTech has announced the launch Thursday of a virtual sports lottery game in Jiangsu province – China’s largest lottery market – under the brand name Electronic Ball Lottery. The JV has entered into a long-term agreement with Jiangsu SLAC to provide it with the Virtual …
Chinese lottery statistics released this week by the Ministry of Finance again illustrate the staggering potential of the Chinese gambling market, reporting sales that reached 251.64 billion yuan (41.29 billion U.S. dollars) in the first 10 months of 2013, up 19.2 percent year on year. The news agency Xinhua reports that during this period, welfare …
One of China’s top social gaming development companies, Rekoo, has announced its intention open offices in London”s Tech City, reports the publication News Techworld. Rekoo is a Beijing headquartered firm that has a staff of over 500 deployed across Asia, and the new London venture will be geared toward development and marketing, initially with a …
Sports lottery gaming company AGTech Holdings Limited, together with its subsidiaries, announced Thursday that its virtual football televised sports lottery game has received national approval from the PRC Ministry of Finance. The game has been classified by the National Sports Lottery Administration Centre as a sports betting game and will accordingly operate with a 69 …
The Chinese online gambling services of William Hill plc will be withdrawn from August 19 “for the forseeable future”, the betting group has advised marketing affiliates, citing the need to comply with national regulations. The notification reads: “We regret to inform you that William Hill has taken a decision to withdraw all of its online …
Playscan AB, a subsidiary of Swedish Government-owned gaming operator Svenska Spel said its Playscan responsible gambling product will be integrated by FuSheng Interactive in Hong Kong along with Northberry AB in Sweden. Playscan was developed from a partnership between Playscan AB and Spelinstitutet in 2006 and launched at svenskaspel.se in 2007 and Française des Jeux …
Hong Kong-listed internet video broadcasting company VODone Limited has agreed to acquire the issued share capital of Victor Choice Investments for a consideration of Chinese Yuan (CNY) 150 Million ($24.4 Million). Victor Choice holds the entire equity interest in Beijing Caiwang Bohui Technology Company Limited, (BCBTC) effectively allowing VODone to take control of BCBTC’s proprietary …
Two online gambling rings in the Pudong New Area and Jing’an District of China have been broken up by police actions that included the arrest of 99 people, reports the Shanghai Daily newspaper. Shanghai police spokesmen said that the criminal enterprises involved more than 180 million yuan (US$29.31 million), and revealed that a total of …
Li Jun, the thirty-something Chinese creator of the notorious Panda Burns computer virus which created havoc some years ago, served 3 years jail time for his sins and promised to take the straight and narrow option, but he is now in prison again – this time for running an illegal online gambling ring. The Wall …
There are currently widespread reports in the mainstream Chinese media revealing that enforcement agencies have charged 17 Chinese nationals operating out of Macau as agents for online gambling operators on the island who have been targeting mainland Chinese gamblers. The bust dates back to the middle of last year following over a year of undercover …
China’s welfare lottery sales hit a record 151.03 billion yuan (about $24.08 billion) in 2012, up 18 percent year on year, the Ministry of Civil Affairs announced Sunday. Government spokesmen told the newspaper China Daily that lottery sales raised more than 46.4 billion yuan for public welfare funding during 2012. China Daily reports that half …
The Shanghai District People’s Court was active last week, sentencing 25 defendants accused of being involved at various levels in operating an online gambling enterprise. Local media reports claimed that the accuseds were involved with an unidentified but internationally known top football gambling website based offshore, with prosecutors revealing that the busts were made in …
Lawyer and specialist on the gambling industry in China, Peter Pang, gave readers of a law intelligence journal a review of the potential of the Chinese online gambling market this month, presenting relevant statistics. Pang, who joined the Washington DC law firm of Dickinson Wright last month and travels between Washington and his company in …