5 million listed behind nternet lottery name Road

[the] October 23rd, Internet lottery sales enterprise 500 lottery network (0, 0, 0%) (formerly 5 million lottery network) to the U.S. Securities and Exchange Commission (SEC) submitted IPO documents, plans to raise funds up to $150 million. From the total financing to be listed, once the successful listing of 500 lottery network, this year will be the largest domestic listed companies in the United States financing.

such companies can be listed?

500 lottery network prospectus shows that it is one of the Internet lottery companies in mainland China has sports lottery network sales license, and another is the State Sports General Administration of China under the smg. Few people realize that lottery network business can do so much, actually went to the United States market.

in fact, the lottery as the only legal means of China’s annual sales of hundreds of billions of dollars, while Internet lottery sales in the proportion of lottery sales in the year after year.

latest data show that in September this year, a total of 25 billion 762 million yuan lottery sales, an increase of 25.5%; as of September, the national lottery sales reached $224 billion 453 million, an increase of 18.5%. According to the 500 lottery network Prospectus Documents, the data side of the company intends to predict the next three years, China’s lottery market will continue to achieve high growth in 2015, sales in will reach $450 billion 250 million.

500 lottery network prospectus shows that in 2012 net revenues of $172 million in 2011, $157 million in 2010, net profit of $4 million 240 thousand in the past three years, respectively, $13 million 560 thousand, $38 million 290 thousand.

500 lottery network in the United States listed this year, the business model can be recognized by the United States is one thing, but security is another matter.

The way

regulatory eventuate

actually, since the 2001 Internet lottery, has been on the edge of regulation. 2007, the Ministry of Finance and other ministries jointly issued a notice requiring the approval of the lottery in addition to the state, any unit or individual shall not use the Internet to sell lottery tickets. This is no doubt the thunder, rain small. Affected by sales, many local lottery centers on the Internet lottery is also open eyes closed eyes. 2009, "lottery management regulations" promulgated, the network sale of color has not been banned for a time, the Internet lottery rises again.

in September 2010, the Ministry of Finance issued the "Interim Measures" provisions for the administration of Internet sales of lottery tickets, with the "Interim Measures" provisions of the conditions, the basis of good management unit, can carry out the pilot after the approval of the Ministry of finance. Internet lottery agents need to be an independent legal entity with a registered capital of not less than 50 million yuan, with the protection of sites and safety measures and requirements of a sound organizational structure and risk management measures, and senior management personnel in the past five years.

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