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500.com shares dip as third quarter loss widens

7th November 2018 7:57 am GMT

New York-listed lottery provider 500.com has reported net revenue of RMB30.1m (US$4.4m) for the third quarter of 2018, with more than three-quarters of the total generated by its online lottery betting and casino business.

Net revenue increased by 4 per cent compared to Q3 2017, with subsidiary The Multi Group (TMG) contributing 78 per cent of total revenue.

Total operating expenses rose 26 per cent to RMB135.7m due to an increase in share-based compensation expenses and higher [...]

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