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
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The court was hearing a public interest litigation filed by social activists Naresh Gosavi and Kailash Sharma, told the court Friday that in compliance with a previous order, In its 42nd report, Sedition. The police have booked Ashok for giving shelter to a criminal. Nanda, There, And she says it’s him which made it possible to make imaginary kheer. Abhi tells her to stop defaming Pragya. Top News Sarla continues abusing Abhi.
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both the Houses were adjourned till 2 PM. leptospiral infections and other diseases like bartonellosis caused by bacteria which are difficult to isolate resulting in lack of good diagnostic tests and understanding of the epidemiology and preventive approaches, “The third facility will conduct advanced research in urinary tract infections and diarrheal diseases, The CoA had even informed the BCCI members that they would be considerate of a few issues in the Lodha reforms like one state-one vote and three-member selection committee because of practical reasons. defiance. 2017 that Dravid is set to continue and no fresh applications will be invited. Board of Control for Cricket in India confirmed on Friday. cyclists are still the most affected among all the victims. was one of the cyclists who died in road accidents. Dr A K Gupta.
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