500.com partners with Loto Interactive


500.com, a leading online sports lottery service provider in China, has announced that a wholly-owned subsidiary of the Company entered into a framework agreement with Loto Interactive Information Technology (Shenzhen) Limited, a wholly-owned subsidiary of Loto Interactive Limited, a company listed on the Hong Kong Stock Exchange.

The Framework Agreement, Shenzhen GenLot will supply sports lottery terminals approved by the China Sports Lottery Administration Centre (“CSLA”) to the Purchasers for onward sales and distribution in the PRC; and Shenzhen GenLot shall provide maintenance services for the Lottery Terminals supplied during warranty period.

The term of the Framework Agreement is five years. Under the Framework Agreement, the Purchasers intend to purchase up to 10,000 units of Lottery Terminals in total from Shenzhen GenLot pursuant to separately executed purchase agreements. The Purchasers have already placed an order to purchase 1,000 units of Lottery Terminals.