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
, along with the accelerating process of global economic integration, the rapid development of IT technology, Internet/Intranet technology and electronic commerce is widely used, Langsha mall established Langsha in 08 years. The rapid development of e-commerce has become the leading role in the development and application of e-commerce, and the management process, scientific and basic requirements of enterprise e-commerce. The traditional enterprise management system can promote the enterprise management informationization, enterprise management mode change, but it is difficult to meet the mall like Langsha more complex oriented customer relationship and the distribution system of finished goods inventory, procurement requirement oriented supplier dynamic management. Langsha mall official said: "like the electronic commerce enterprises Langsha mall, she needs to save time and money management business management software, it is more important for the business management system and other information system integration is easy to use, the protection of the overall investment information."
before using the online mall Langsha Huizhi enterprise management software, they also used the traditional enterprise management software, Langsha mall responsible person said: according to the basic idea of the traditional enterprise management software is the enterprise operation as a tight supply chain, including suppliers, manufacturers, distribution network customers within the enterprise; is divided into several cooperating subsystems, such as finance, marketing, manufacturing, quality control, service maintenance, engineering technology and competitor monitoring and management, but also can not meet the enterprise through the application of Internet technology in electronic commerce, realize information sharing across organizational boundaries, shorten the requirements of global supply chain management space the distance, it is difficult to achieve expansion to the customer in the enterprise resources, enterprises need more complex customer relationship management. In a word, the traditional enterprise management software to solve the relationship between the internal door of the enterprise, e-commerce oriented enterprise management software is focused on solving the relationship between enterprises.
according to the person in charge of Langsha mall, e-commerce enterprises have the following requirements for ERP enterprise management software at present:
1 multi platform running
operation, the real meaning of the multi platform: the same set of encoding program can run on a variety of hardware platform and operating system, so that enterprises can according to the best platform for business needs and investment ability to fully protect the user’s investment.
2 highly modular
‘s new "modular" concept is different from the current "optional module suite". During the design and development of the software system, the functions of each subsystem and subsystem should be guaranteed, even the modularization of every application.
3 for e-commerce applications
with the development of e-commerce technology, various external business activities have been extended to the Internet. A new generation of management software should support the acquisition of information on Internet and the realization of online transactions. However, e-commerce is not simply We>