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500.com revenue decline continues into second quarter

1st September 2020 7:44 am GMT

New York-listed lottery and gaming operator 500.com has posted a 63 per cent drop in net revenue to RMB3.6m (€0.4m) for the second quarter of 2020.

Revenue in Q2 continued to be adversely impacted by the suspension of The Multi Group's (TMG) Swedish operations, after the company failed to renew its licence before expiry.

TMG accounted for just under 90 per cent of total Q2 revenue, of which approximately 61 per cent was generated from Sweden.

During Q2, [...]

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