Zhengming Pan

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    500.com ties up with Hokkaido Rusutsu IR bid

    Japanese tourism company Kamori Kanko has added considerably more financial muscle to its bid to bring an IR to Hokkaido with the announcement of a US$1.5 billion investment agreement with Chinese lottery service provider 500.com. Other members of the consortium are Sequoia Capital China, Vision Knight Capital, and SIG Asia Investments. This past weekend 500.com […]

    500.com wants Okinawa IR

    Okinawa Governor Takeshi Onaga has made clear that he firmly opposes the establishment of an IR within his island prefecture, but that doesn’t seem to be stopping powerful economic and political forces from seeking to overturn that verdict and to bring a casino to Okinawa nonetheless. Zhengming Pan, CEO of 500.com, a Shenzhen, China, based […]

    MelcoLot shuffles board, executive management

    MelcoLot has announced the appointment of a new chairman and chief executive officer, effective July 10, 2017. According to a filing from the company on Monday, Mr. Pan Zhengming has been appointed as the chairman of the board, replacing Frank Tsui Che Yin, while Mr. Wang Bingzhong has been appointed as the chief executive officer […]

    500.com posts $11.3 million loss in 16Q3

    Online sports lottery provider 500.com has reported a net loss of RMB 75.3 million ($11.3 million) for the third quarter of 2016. The net loss is more than double that of the second quarter of 2016, which was RMB 27.7 million, but narrower than a net loss of RMB 80.7 million recorded in 15Q3. “Mr. […]

    500.com reports narrowed loss in 16Q2

    Online sports lottery service provider 500.com has reported a narrowed year-on-year loss in 16Q2, affected by the ongoing suspension of sports lottery sales services in China. The operator reported a net loss of RMB 27.7 million ($4.2 million) for the second quarter, compared to a net loss of RMB81.4 million in the prior year. Net […]

    500.com reports 82.8 percent decrease in net revenue in 2015

    China online sports lottery service provider 500.com reported a 82.8 percent decrease in net revenue at RMB99.6 million (US$15.4 million) for the full year 2015. Operating loss was RMB301.4 million, representing a 301.6 percent decrease from operating profit in 2014, which was at RMB149.5 million. Net loss attributable to 500.com was RMB323.9 million. The operator […]

    500.com again pitching IR plans in Okinawa

    Zhengming Pan, CEO of 500.com, the Shenzhen-based online sports lottery service provider, is back in Okinawa pitching his IR plans, but this time he brought along a potential partner, Kevin McGowen, CEO of Les Ambassadeurs Club in London. According to an article in the Ryukyu Shimpo, Pan and McGowen entered Okinawa on July 21 and […]

    500.com Q2 revenue jumps on TMG acquisition

    500.com, a provider of lottery services in China reported soaring revenue for Q2, helped by the early July acquisition of TMG Group, an online lottery betting and online casino platforms operated out of Malta.
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