500.com is hoping that its recent acquisition of a Chinese social poker site will help quell investor worries by bringing the company some much-needed positive revenue. It's a big move that could be a life changer for the struggling sports lottery giant. Company officials announced the acquisition of a 51 percent share of Qufan Internet…
At least 60 people were arrested earlier this week when Philippine law enforcement agencies busted an illicit, Chinese-run online gambling operation. The dramatic raid is just the latest salvo in President Rodrigo Duterte's ongoing war on the online gambling industry. Representatives of the National Capital Region Police Office (NCRPO) charged through the doors at the…
Eighteen Crown Resorts employees have been detained by Chinese authorities in what's believed to be the start of a crackdown on the gambling and casino junket business. At least three of the detainees are believed to be Australians, including Jason O’Connor, the head of Crown’s VIP International team. Details surrounding the whereabouts of the 18…
The Chinese Ministry of culture has a message for online gambling operators: We're watching you very closely. Ministry officials recently sent out warnings to 26 online gambling operators regarding their compliance to strict Chinese gaming regulations. The warnings come in the wake of a string of recent scandals involving Baidu and Bitcoin, the Chinese search…
The Chinese government has launched a massive crackdown aimed at, "cleaning up the internet," that's resulted in thousands of arrests across the country, including a few internet gambling operators. Beginning last month, Chinese authorities began what they're saying is a six month operation to combat a whole slew of internet crimes including identity theft, credit…
500.com, China's largest online lottery operator, is losing money; lost its CEO; and just saw the price of its stock rise by nearly 30%. This feat is even more impressive when you consider the fact that 500.com hasn't generated revenue of any kind since March, when its business operations were suspended. The company's story is…
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