SHENZHEN, China, March 6, 2018 /PRNewswire/ -- 500.com Limited
(NYSE: WBAI) ("500.com" or the "Company"), a leading online sports
lottery service provider in China,
announced that the Company and the China Sports Lottery
Administration Center (the "Sports Lottery Center") entered into a
framework agreement (the "Framework Agreement") today, under which
both parties plan to cooperate to develop physical channels to sell
sports lottery tickets (the "Project").
Under the Framework Agreement, the Sports Lottery Center will
provide support to the Project. In the meantime, the Company will
seek to enter into cooperation agreements with provincial
(including regional and municipal) sports lotteries centers to
assist in installing sports lottery terminals and provide relevant
maintenance and operational services in accordance with local
development plans for sports lottery business and requests of such
provincial (including regional and municipal) sports lotteries
centers, in order to enhance the convenience of sports lottery
ticket purchases, enlarge customer base and optimize user
experience for lottery purchasers.
The Sports Lottery Center is the sports lottery issuance agency
established by the General Administration of Sports in accordance
with relevant laws, and it is the government authority in charge of
the issuance and organizing sales of sports lottery products in
China.
About 500.com Limited
500.com Limited (NYSE: WBAI) is a leading online sports lottery
service provider in China. The
Company offers a comprehensive and integrated suite of online
lottery services, information, user tools and virtual community
venues to its users. 500.com was among the first companies to
provide online lottery services in China, and is one of two entities that have
been approved by the Ministry of Finance to provide online lottery
sales services on behalf of the China Sports Lottery Administration
Center, which is the government authority that is in charge of the
issuance and sale of sports lottery products in China.
Safe Harbor Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"going forward," "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions, and relate to events that involve known
or unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
For more information, please contact:
500.com Limited
ir@500wan.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE 500.com Limited