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Chinese Online Lottery 500.com Pays Off Nicely for Investors

Chinese Online Lottery 500.com Pays Off Nicely for Investors

Chinese on the web lottery 500.com has entered the New York Stock market, and appears to be winning (Image: Wan Li/China everyday)

Investors in Chinese lottery that is online 500.com Ltd. are off to a happy begin to the New Year; within the six months since its ny Stock Exchange birth, the value associated with the company has almost tripled from its initial public providing cost of $13.

Winning the Lottery Lottery

As the only Chinese lottery company become placed in the United States, 500.com is one of only a handful of businesses set to enjoy the Chinese government’s whittling down of thousands of private lottery operators, as they license and regulate the industry to just a tiny number of firms. Most of these will ultimately be vying for the prospective market of over 400 million lottery players in the nation.

‘Over the next five years it is very clear that the market that is chinese continue to grow rapidly while the federal government regulatory regime can be more open and transparent,’ explained 500.com’s primary economic officer Zhengming Pan.

China’s lottery market has flourished remarkably in recent years, many thanks to a rise in disposable earnings through the country, and a nationwide appetite for gambling and advancements in gaming technology. Because of this, China’s lottery spending reached $23 billion in 2012, while the U.S. the largest lottery market in the entire world was still staunchly i Devamını oku

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Nevada Casinos Can’t Profit for Losing for Fifth Straight Year

Nevada Casinos Can’t Profit for Losing for Fifth Straight Year

It absolutely was the year that is fifth for a downturn in Nevada’s web revenues for fiscal 2013, in line with the Gaming Control Board

It had been bad news and kind of good news for the Silver State’s gambling enterprises when Nevada’s Gaming Control Board circulated their annual Gaming Abstract Report late a week ago. The bad news was that Nevada’s 263 combined casinos experienced a fifth straight 12 months of economic internet losses; but the good news is that their actual intake revenues increased a tad compared to 2012.

However, a web loss is a net loss, and fiscal 2013 had been a little bit even worse than 2012, with a final tally of minus $1.348 billion,compared to $1.212 billion in 2012.

Slow Recovery

It’s all an element of the child step recovery process from Nevada’s massive turndown through the nation’s recession, which undoubtedly hit this casino-centric area hard since 2009. In reality, fiscal 2008 had been the last time Nevada’s casinos overall showed a web revenue, and that was for $721.1 million. The following year, the state took its hit that is biggest, with a $6.8 billion net loss for casinos statewide. Ouch.

The Las Vegas Strip naturally sets the rate with regards to Nevada gaming, and a small 1.7 percent revenue jump through the final fiscal 12 months simply was not sufficient to leave a profit; overall, Strip casinos marked a $1.5 billion loss for the season. But once again, some sil Devamını oku

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University of Texas El Paso Boots Basketball Players for Gambling

University of Texas El Paso Boots Basketball Players for Gambling

Three UTEP Miners basketball players have been suspended after allegations of illegal activities betting

If you should be an university sports fan, you almost certainly don’t think much about the University of Texas at El Paso (UTEP) in regards to groups. Sure, you’ve probably been aware of UTEP, but you are not too worried when your favorite group suits up to try out them, and you may not be selecting them to win a championship that is national basketball or football anytime soon. And when their basketball team is in the news headlines, you know it’s not likely for anything they have done on the court.

Three Players Accused of Betting on Games

And that is precisely true for the headlines coming out of UTEP this week. Three players had been kicked off of the UTEP men’s basketball team after allegations had been made against them related to gambling on sports. Those allegations eventually caused the college to report the gambling to the local FBI industry workplace, and then take away the players from their team.

For those looking for something similar to the 1994 Arizona State aim shaving scandal, however, it doesn’t appear that things went quite that far in this case. In line with the college, none of the three UTEP players involved are accused of shaving points or throwing games, and there’s no proof that some of them bet on games played by UTEP. Mentor Tim Floyd said that the evidence he’s seen backs up Devamını oku