500 .com, the troubled sports lottery company that is transforming into a bitcoin firm, announced its decision to relocate its headquarters from Shenzhen to Singapore.
500 .com Limited, now describing itself as “a cryptocurrency mining enterprise in China,” has announced that it has completed its acquisition of bitcoin mining machines originally announced on January 11. The bitcoin mining machines acquired in this transaction (the "Bitcoin Mining Machines") include such models as the S17, T17, M20s and S9.
The Chinese Ministry for Foreign Affairs has announced that it will further adjust its visa policy. Starting from March 15, Macau foreign residents, including permanent or non-permanent, can apply for all categories of visas to the mainland of China.
China President Xi Jinping is personally raising concerns about online gaming addiction. Addiction to online games, along with “other dirty and messy things online,” could have a bad influence on Chinese juveniles because they are not psychologically mature, he said.
For the first time since March last year, the China Online Visa Application system will open to foreign residents in Macau from next Monday.
500.com closed its previously announced private placement transaction with Good Luck Information Technology and has received 356.04342 Bitcoins and US$11.5 million in cash. The company has issued 85,572,963 newly issued Class A ordinary shares to Good Luck Information.
The Lunar New Year period, which is known as the largest annual migration in the world, was a shadow of its former self, with strict rules in place to restrict the flow of Chinese outbound (and domestic) travel this year.
Suncity Group has revealed that it has sold off some non-gaming properties that it owned in Shenzhen, notably Hong Long Plaza, a commercial and residential complex, and Le Paysage, a property development project.