USD 16M
500.com makes "strategic" bet on Qufan
2016-11-28
Reading time 23 seg
500.com Limited, an online sports lottery service provider in China, has announced that it has agreed to invest in Qufan Internet Technology Inc. and Shenzhen Qufan Internet Technology Co., Ltd (Qufan), an operator of mobile social poker games.
500.com is investing in ordinary shares representing 51.0% of equity interest in each of Qufan Internet Technology Inc. and Shenzhen Qufan Internet Technology Co., Ltd. for an aggregate cash consideration of RMB110.5 million (approximately US$16.0 million).
The consummation of the investment is subject to certain conditions.
500.com will cooperate with Qufan to help develop and promote its mobile social poker games platform.
Leave your comment
RELATED NEWS
Adsterra analysis
iGaming regulations through and through: LatAm, Brazil, and the USA
To lead upcoming MelBet Night Show
MelBet names actress Monami Ghosh as new brand ambassador
COMPANIES
Off-market cash takeover bid
Australia: Iris Capital moves to acquire Reef Casino Trust in $116 million deal
Key step in its shift to in-house tech
LeoVegas launches proprietary sportsbook platform in Denmark
Policy change leads to pricing shifts
Sportsbooks adjust Illinois operations as per-wager tax takes effect
Developers to retain stake
Churchill Downs acquires controlling interest in New Hampshire's Casino Salem
LATEST NEWS
ONLINE GAMING
LEGISLATION
SPORTS BETTING
MAGAZINES
EVENTS
Set to take place on November 25
EEGS Affiliate Conference unveils new sponsorship packages ahead of 2025 edition
At Malta's Mediterranean Maritime Hub
SiGMA Euro-Med to highlight latest iGaming and tech industry advancements this September
EVENTS CALENDAR
Highlighted
SiGMA Euro-Med
Highlighted
SBC Summit Lisbon 2025
Highlighted
G2E LAs Vegas - Global Gaming Expo
Highlighted
IAGR 2025 The International Association of Gaming Regulators
Highlighted
Gaming in Germany 2025
Highlighted
GAT Expo Santo Domingo 2025
NOV 12th 25 / NOV 13th 25
Live Event Renaissance Jaragua Hotel y Casino, Santo Domingo, República Dominicana
Highlighted
BEGE 2025 Balkan Entertainment and Gaming Exhibition
Highlighted
