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500.com strikes €50m deal to acquire Multilotto operator

26th May 2017 11:28 am GMT

Chinese lottery solutions provider 500.com is moving into the lottery betting sector after striking a deal to acquire a majority stake in Malta-based The Multi Group, operator of the Multilotto brand.

500.com has conditionally agreed to purchase approximately 93 per cent of The Multi Group's outstanding shares for a cash consideration of €49.8m.

Established in 2015, Multilotto allows players to bet on the outcomes of eleven of the world's largest lotteries through its proprietary platform. 

Initially operating under a [...]

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