Asia
500.com Limited Announces Private Placement and Appointment of New Officers

500.com Limited, an online sports lottery service provider in China, today announced that it has entered into a definitive share subscription agreement (the “Agreement”) with Good Luck Information Technology Co., Limited (“Good Luck Information”), a company incorporated in Hong Kong, for the issuance and sale of newly issued Class A ordinary shares of the Company (“Class A Shares”).
Pursuant to the Agreement, Good Luck Information will purchase 85,572,963 newly issued Class A Shares for a total purchase price of approximately US$23 million, to be settled in U.S. dollars or in crypto-currencies, including Bitcoin (BHC), to be determined chosen by the Company within one month of the date of the Agreement. Good Luck Information shall make full payment of the purchase price in currencies determined by the Company within one month of the Company’s determination. The per share purchase price of US$0.269 is the closing trading price of the Company’s ADSs on December 18, 2020, the last trading day immediately preceding the date of the purchase agreement. as adjusted by a 1-to-10 ADS to ordinary shares ratio.
Good Luck Information has agreed to subject all the shares it or its affiliate will acquire in the transaction to a contractual lock-up restriction for 180 days after the closing. The closing is expected to take place on or before February 20, 2021, upon satisfaction of customary closing conditions.
Good luck Information is controlled by Mr. Man San Vincent Law, a founder of the Company, who currently holds less than 5% of the Company’s outstanding share capital. Upon closing, Good Luck Information will hold 16.6% of the Company’s issued and outstanding ordinary shares.
Appointment of New Officers
The Company’s Board of Directors (the “Board”) has proposed the Company to explore business opportunities in the blockchain and cryptocurrency industries based on some success experience of its associate, Loto Interactive Limited. The Board has appointed Mr. Xianfeng Yang as the Chief Executive Officer of the Company, and Mr. Bo Yu as the Chief Operating Officer of the Company, both effective Decembers 21, 2020.
Mr. Yang has extensive experience in the cryptographic digital virtual currency industry. He has been in charge of the construction and operation of the big data center of Loto Interactive Limited. Mr. Yang also serves as the Chairman of Changhe Hydropower Absorption Blockchain Big Data Industrial Park in Sichuan. Mr. Yang served as the Company’s senior Vice President from 2018 to 2020. Mr. Yang received a bachelor’s degree in Architecture from Huazhong University of Science and Technology.
Mr. Yu has served as the Company’s Director since 2017, and served as General Counsel since 2014. Mr. Yu received a master’s degree in law from the University of Iowa, and a master’s degree in law and a bachelor’s degree in science from the Wuhan University. Mr. Yu has been admitted to the Bar of the State of Michigan.
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Asia
Scientific Games India Recognized as One of Jombay’s 2025 WOW Workplaces

Scientific Games has been named one of Jombay’s WOW Workplaces of 2025 in the Information Technology, Information Technology Enabled Services and Global Capability Center category at its Bangalore, India, location. This prestigious accolade reaffirms the company’s commitment to fostering a culture of innovation, collaboration and inclusivity. The award highlights the global lottery leader’s dedication to providing an exceptional environment where employees thrive personally and professionally.
The WOW Workplace Awards are an annual listing of organizations with the most WOW reviews. The award substantiates how “great,” “best” or “exceptional” a company is through testimonials and feedback across the web (including employee review websites) using Jombay’s AI engine.
Pat McHugh, CEO of Scientific Games, said, “Being recognized as one of Jombay’s WOW Workplaces is an incredible honor and a true reflection of the remarkable culture our team in India has built. Our India team’s relentless dedication to innovation and excellence is inspiring and helps fuel our success with employees and customers worldwide.”
Scientific Games’ Bangalore operations, established in 2015, recently expanded to a new, state-of-the-art facility, underscoring the company’s growth and investment in its workforce. The center is a hub for research and development, software innovation, quality assurance and technology operations, contributing significantly to the company’s global mission.
Mahesh Nanjundappa, Managing Director of Scientific Games India, added, “This recognition is a testament to our employees’ hard work, creativity and commitment to making Scientific Games a fantastic workplace. At the heart of our success is the inspiring environment we’ve cultivated where every team member feels valued and empowered to achieve their best.”
Scientific Games operates across five continents, delivering a comprehensive range of retail and digital lottery solutions and lottery sports betting products and services to 150 lotteries in 50 countries.
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Asia
Tencent Cloud Recognised as a Leader in Omdia Market Radar for Games in Asia & Oceania, Solidifying its Position as a Global Gaming Industry Innovator

Tencent Cloud, the cloud business of global leading technology company Tencent, has been named as a leader among cloud platforms for games in the latest report by Omdia, a premier technology research and advisory firm. The report highlights Tencent Cloud’s exceptional capabilities in supporting the gaming industry, showcasing its cutting-edge infrastructure and innovative, gaming-specific solutions, which solidify its position as an innovator in the global gaming sector.
According to the “Omdia Market Radar: Cloud Platforms for Games, Asia & Oceania – 2025,” Tencent Cloud is the top cloud platform for game developers in China – one of the largest and fastest-growing markets globally. It is also expanding its influence internationally, establishing a significant presence in Asia and Oceania, where it is positioned as one of the leading cloud service providers and is the only Asian vendor in the leader quadrant. As China’s largest gaming company, Tencent’s scale is reflected in its deep expertise and sustained focus in the gaming sector, with a sustained focus on gaming, which drives the development of its cloud platform. This emphasis is evident in Tencent Cloud’s robust suite of tools for game developers, including game servers, multiplayer services, and LiveOps. The platform’s offerings reflect the advanced adoption of live service business models in the Chinese market, distinguishing Tencent Cloud as a leader in the industry.
Poshu Yeung, Senior Vice President of Tencent Cloud International, said: “It is an honor for us at Tencent Cloud to be recognized as a leader in the Omdia Market Radar. This acknowledgment is a testament to our commitment to innovation and excellence in supporting the gaming industry. As the demand for cloud-based gaming solutions continues to grow, Tencent Cloud becomes even more well positioned to drive innovation and deliver greater value to developers and players all over the world.”
The post Tencent Cloud Recognised as a Leader in Omdia Market Radar for Games in Asia & Oceania, Solidifying its Position as a Global Gaming Industry Innovator appeared first on European Gaming Industry News.
Asia
GR8 Tech Expands Reach Across Asia and Latam Through Betting Software Partnership

GR8 Tech has partnered with B2B gambling software provider Betting Software (BSW) to integrate its highly sought-after Sportsbook iFrame Solution into BSW’s offerings. The iFrame stands out for its easy integration and powerful margin management features, which have made it one of the most popular solutions of 2024. By adding the iFrame to BSW’s sportsbook aggregation, GR8 Tech’s innovative technology will reach a broader network of operators.
Bulat Fakhrutdinov, Head of Partnerships at BSW said, “GR8 Tech’s iFrame excels in sports selection and operational flexibility, making it a perfect addition to our portfolio. Our clients will gain access to a superior solution that effortlessly enhances their sportsbook offerings to the fullest.”
“We’re incredibly excited to partner with BSW and bring our iFrame solution to even more operators. It’s already a game-changer in the industry, and we are actively expanding its reach. This partnership is a strong endorsement of the value our iFrame brings, and it’s a big step forward for us as we continue to grow and innovate,” Yevhen Krazhan, CBDO at GR8 Tech added.
GR8 Tech’s Sportsbook iFrame stands out with its broad content offering, featuring over 50 sports and esports, 25,000 daily events, and more than 2,000 betting markets. This extensive selection caters to a variety of player preferences. The iFrame’s easy integration and mobile-first design help operators quickly respond to market trends. Plus, with AI-powered content recommendations and advanced risk management, the iFrame boosts player experience and helps operators optimize margins and minimize risks. Its margin personalization feature can increase profits by over 15%, giving operators a clear edge in profitability management.
To see how GR8 Tech’s iFrame solution can elevate your iGaming business, connect with the team at upcoming events: SBC Summit Rio on February 25-27 and SPiCE South Asia on March 4-6.
The post GR8 Tech Expands Reach Across Asia and Latam Through Betting Software Partnership appeared first on European Gaming Industry News.
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