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500.com CEO steps down as lottery suspension hits results

20th May 2015 8:09 am GMT

Despite posting a 10 per cent increase in net revenue, NASDAQ-listed Chinese lottery supplier 500.com has recorded a net loss of RMB52.0m for the first quarter of 2015 as results were negatively impacted by the temporary suspension of Chinese online lottery sales in March.

Revenue rose to RMB98.8m (US$15.9m) during the period, but fell by 32 per cent compared to the previous quarter, primarily due to the suspension, with the company forecasting [...]

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