Online sports lottery service 500.com just filed with the SEC, planning to raise $150 million in an IPO on the NYSE under the ticker symbol of WBAI.

500.com is an aggregator and processor of lottery purchase orders from registered user accounts and currently derive substantially all of the revenues from service fees from provincial sports lottery administration centers for the purchase of orders.

The company is one of the two entities that are authorized by the Ministry of Finance to provide online lottery sales services on behalf of China Sports Lottery Administration Center, the government authority in charge of the issuance and sale of sports lottery products in China.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.