NASDAQ-listed Chinese lottery service provider 500.com has reported strong growth for the third quarter of 2014, with total purchase amounts and net revenue soaring versus the corresponding period last year.
Total purchase amounts rose 205 per cent to a record RMB2,244.6m ($365.7m), while net revenue increased 171 per cent to RMB187.6m. This represented a sequential increase of 7 per cent and 20 per cent versus the previous quarter.
The company said that the significant year-on-year increase was partially due to the FIFA World Cup which helped drive an increase in purchases of sports lottery products on related matches.
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