500.com Limited's Malta-Based Subsidiary Continues the Temporary Suspension in Sweden
5
00.com Limited (NYSE: WBAI) (500.com or the Company), a leading online sports lottery service provider in China, announced that The Multi Group (TMG), a Malta-based subsidiary of the Company, continues to temporarily suspend its operations in Sweden as it awaits the renewal of its eGaming license.
TMG has submitted all the application materials and is in close communication with Sweden's eGaming regulatory authority to complete the renewal process as quickly as possible.
The Company's revenues from TMG during the first quarter of 2020 have been materially and adversely impacted by the temporary suspension of operations in Sweden. Revenue generated by TMG accounted for approximately 99.1% of the Company's total net revenues during the third quarter of 2019, of which approximately 61.3% was generated from Sweden.
✔️ 500.com Limited's Malta-Based Subsidiary Continues the Temporary Suspension in Sweden
💕 Found this article helpful? Spread the word and support us!