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500.com posts loss as Chinese lottery suspension hits Q2 results

30th July 2015 7:12 am GMT

NASDAQ-listed Chinese lottery supplier 500.com has reported a net loss of RMB81.4m (€12.0m) for the second quarter of 2015, as a result of the adverse impact of the temporary suspension of online lottery sales in China which meant that the supplier generated no revenue at all during the period.

As a result of China’s provincial sport lottery administration centers' decision to temporarily suspend accepting online lottery orders, 500.com did not generate any revenue from sports lottery [...]

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