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
now the whole society, for business or is to promote, at the same time, a growing number of people have also embarked on the road of entrepreneurship, the place is also actively in the organization and founded some entrepreneurship competition.
7 30 afternoon, 2015 Guangxi e-commerce entrepreneurship contest Nanning division launching ceremony held in nanning. The entrepreneurship contest to "Internet plus action circle business dream" as the theme of the competition. The division of Nanning from the beginning to accept the application, will be held tryouts at the end of August.
the entrepreneurship contest Nanning division sponsored by the Nanning Municipal Bureau of Commerce, Nanning Municipal Committee of Communist Youth League, Guangxi Nanning Gold Coast network science and technology limited company to undertake, sina Guangxi, Guangxi Youth Science and technology limited company, Guangxi translation business services limited liability company, Guangxi International Business Vocational College. The same day, Xu Fengli, deputy director of the general office of the Guangxi Department of Commerce, deputy director of the Nanning Municipal Bureau of Commerce, deputy secretary of the Communist Youth League, Nanning, He Huaqing was invited to attend the launching ceremony and speak. The main unit is responsible to the contest started to open the crystal ball at the end of the general assembly.
it is reported that the Nanning organizing committee will organize experts to review the written evaluation for all entries for the integrity, innovation and creativity, commercial value, selected 55 items into the field trials, and invited the electronic business executives, College of electronic commerce field teachers expert review team, the game through on-site review the way, according to the on-site assessment results to determine the first prize 1, two prize 4, third-prize 10, 35 outstanding award, and awarded a certificate and trophy. At the same time, the organizing committee will be one or two, third-prize winning team to arrange a business mentor, providing business guidance, and arrange professional e-commerce entrepreneurship training training instructor.
In fact, a