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500.com launches share buyback as further suspensions loom

2nd March 2015 1:39 pm GMT

NASDAQ-listed online sports lottery service provider 500.com has approved a US$30m share repurchase program after its shares hit a new 52-week low last week following a temporary suspension of its services in several Chinese provinces.

A number of provincial sports lottery administration centres, to which the company provides sport lottery sales services, temporarily suspended accepting online purchase orders for lottery products last week following a notice issued by the Chinese government.

The temporary suspension began last Wednesday (February [...]

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