Legal & compliance China-facing lottery solutions provider 500.com has announced that its The Multi Group (TMG) subsidiary has temporarily suspended operations in Sweden after failing to renew its licence.Malta-based TMG had been operating its MultiLotto lottery betting brand in Sweden under a year-long licence, but did not renew the permit before its expiration.However, 500.com said TMG is in close communication with Spelinspektionen, the national gambling regulator in Sweden, with a view to renewing its licence as soon as possible.TMG said it expects to renew its licence and resume operations in the country by mid-February.500.com expects TMG’s contribution to group revenue during the first quarter of 2020 to be both materially and adversely impacted by the suspension of operations in Sweden.TMG revenue accounted for approximately 99.1% of 500.com’s total net revenue for the third quarter of 2019, of which around 61.3% was generated in Sweden. The business was acquired in a €49.8m deal in May 2017. In November 2019, 500.com reported a 67.6% year-on-year decline in third quarter revenue, blaming the decline in part on issues related to the migration to a new website in Sweden.The suspension will comes after 500.com last week revealed that its chief executive had stood aside over accusations of bribery in Japan.500.com said that Zhengming Pan, its director and chief executive, requested to temporarily step away from his positions until the conclusion of an internal investigation into alleged illegal money transfers related to the development of integrated resorts in Japan.500.com has formed a special investigation committee to consider its conduct in Japan and the role played by consultants following the arrest of one consultant, who was also a former director of the company’s subsidiary in Japan, and two former consultants by the Tokyo District Public Prosecutors Office. Multilotto halts Swedish activity after licence expires Tags: Online Gambling Email Address Regions: Europe Nordics Sweden Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Strategy China-facing lottery solutions provider 500.com has announced that its The Multi Group (TMG) subsidiary has temporarily suspended operations in Sweden after failing to renew its licence. 8th January 2020 | By contenteditor
investment shop business, competitive pressure, joined the chain industry is also true. If you want to join the chain industry to have some understanding of the industry, to know the little-known insider information inside the industry, so entrepreneurship is more sure.
and franchise outlets are two kinds of the consumer terminal main mode, Zhiyingdian directly provided by the manufacturer, and stores are manufacturers recruit the interests of the community. Two the relationship between them is like a half brother, good may very well, but most stores seem inevitably some bumps, become friends. Why is this so?
1, price conflict.
2, goods conflict.
in the display of goods stores often has more advantages in resources, to maximize the display of all products company. In this regard, the sales force is stronger than the franchise. In particular, the dominance of some of the goods, the self-employed tend to have more active.
3, image, service and concept of conflict.
Zhiyingdian can direct interpretation of the philosophy of the company, show the company’s brand image and service specification, and stores in some of the aspects of the performance is relatively deficient to. Lead to two types of terminals can not be unified and harmonious.
4, artificial contradictions.
some outlets management personnel and the franchisee is very easy because of their own interests and stood on the opposite side, generated some other contradictions.