500.com ltd., a Ministry of Finance-authorised online sports-lottery vendor in China, has filed for a $150m initial public offering (IPO) on the New York Stock Exchange.
The company, which is incorporated in the Cayman Islands, acts as a non-exclusive online sports-lottery sales aggregator for a number of provincial sports-lottery administration centres in mainland China.
It is one of only two entities authorized by the Ministry of Finance to provide online lottery sales services on behalf of China [...]
