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
carefully designed, more than 4 years of construction and exhibition, Museum of science and technology of Qinghai province is located in the Lake District, yesterday morning officially opened its doors. Provincial Party Secretary Qiang Wei, governor Luo Huining, Secretary of the China Association for science and technology, China Science and Technology Museum curator and students from the province’s representatives on behalf of the opening of the joint opening of the Museum of science and technology for the three. Provincial CPPCC Chairman PEMA, provincial committee, provincial Commission for Discipline Inspection Secretary Ren Qing Jia, deputy director of the provincial people’s Congress Standing Committee of the provincial Party committee, Mu Dongsheng, Minister of the Propaganda Department of the provincial Party committee, Gio de Maja, Secretary of Provincial CPC Committee United Front Work Department Dorje Geltan, the Provincial Standing Committee, Secretary General Wang Xiaoqing, Provincial Standing Committee, chairman of the Provincial Federation of trade unions, Su Ning, vice governor Gao Yunlong attended the opening the ceremony. It is open to improve the scientific and cultural qualities of the people of all ethnic groups in our province, enhance the sense of innovation, demonstrate the achievements of modern science and technology in our province, and enhance the construction of science and technology ability of our province, is of great significance.
science and Technology Museum to highlight the local characteristics in the exhibit, lobby design have a unique style, and strive to exhibit independent innovation, with prominent manifestation of the theater, the Qinghai province science and Technology Museum presents is different from many other domestic museum features and highlights.