500 .com has announced that its Malta-based subsidiary The Multi Group has been granted a renewed e-Gaming license for two years for secondary lottery and casino from Sweden’s e-Gaming regulatory authority.
Revenue generated by The Multi Group accounted for approximately 89.7 percent of the company’s total net revenues for the fiscal year ended December 31, 2019, of which approximately 61.3 percent was generated from Sweden.
At the end of August, 500 .com reported its April-June 2020 financial results, including net revenues of RMB3.6 million (US$500,000) and an operating loss of RMB52.3 million (US$7.4 million).
As for the internal investigations in connection with the Japan bribery cases, the company declared that it had nothing to report at this time as the probe is still ongoing.
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.