Primarily operating in the Scandinavian region, Multi Group have secured remote gambling licences in Malta, remote operating licences in the UK and a remote bookmakers licence in Ireland.
Under the terms of the deal, the company will acquire 93% of Multi Group, which operates the lottery betting website Multilotto.com, subject to approval by regulatory authorities.
500.com have also announced the purchase of a 40.65% share in MelcoLot Limited at a cost of $41.3m, a deal which will see the Melco group end its involvement with the company.