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

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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.

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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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BETBY PARTNERS WITH SABA SPORTS TO DELIVER ESPORTS CONTENT THROUGH BETBY GAMES

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BETBY strengthens its Asian position with agreement to power leading brand SABA Sports

Premium sportsbook provider BETBY has entered into a strategic partnership with renowned sports gaming supplier SABA Sports, marking a significant step in bringing BETBY’s award-winning esports feature, BETBY Games, to the Asian-facing market.

The partnership with SABA Sports, the largest sports betting provider in Asia, will kick off with the integration of NBA focused eBasketball content in its esports portfolio. Going forward SABA Sports will be expanding its e-sim offering with additional BETBY Games titles, which are renowned to increase player engagement through fast-betting content designed for the next generation of players.

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“This partnership with SABA represents an important milestone for BETBY as we expand our footprint into the Asian market,” said Chris Nikolopoulos, BETBY’s Chief Commercial Officer. “SABA’s exceptional market presence and reputation make them an ideal partner to bring BETBY Games content to life for operators across the region. Together, we aim to deliver unparalleled esports experiences and redefine how players engage with these dynamic esports offerings.”

The post BETBY PARTNERS WITH SABA SPORTS TO DELIVER ESPORTS CONTENT THROUGH BETBY GAMES appeared first on European Gaming Industry News.

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DigiPlus Introduces Tools for Players to Control Gaming Time and Bets

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DigiPlus Interactive Corporation, the company behind leading platforms BingoPlus, ArenaPlus and GameZone, has raised the bar for responsible gaming in the Philippines by launching an advanced Responsible Gaming tab within its platform. This groundbreaking feature provides players with a powerful set of tools to take control of their gaming habits. With options to set daily gaming durations, customise specific gaming schedules and establish daily loss limits, DigiPlus ensures that players can enjoy gaming responsibly, within boundaries they define for themselves.

For example, players can now set a gaming duration that ensures their gaming is confined to specific hours, such as during evenings, or lunch breaks, without interfering with work or family commitments. Players can also set a daily loss limit, such as not exceeding ₱1000, ensuring they never risk more than they are comfortable with. These self-defined features allow players to enjoy the fun and excitement of gaming while ensuring that it never becomes a source of stress or financial strain.

The Responsible Gaming feature is at par with global standards, reflecting DigiPlus’ leadership in adopting best practices for player welfare. These self-exclusion measures, commonly implemented by leading international gaming operators, empower players to prioritise their wellbeing while enjoying the fun and excitement of gaming. By integrating these tools directly into the app, DigiPlus guarantees easy accessibility and seamless user experience, demonstrating a proactive commitment to protecting players from potential harm.

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“The launch of the Responsible Gaming tab in our platforms reflects our deep commitment to our players’ welfare. We believe gaming should always remain a safe and enjoyable activity. By giving our players the tools to manage their gaming habits responsibly, we’re setting a new benchmark for responsible gaming, one that aligns with global standards and emphasizes our care for every individual who engages with our platforms,” said DigiPlus Interactive Chairman Eusebio Tanco.

This new and innovative feature is complemented by DigiPlus’ broader responsible gaming initiatives through its social development arm, BingoPlus Foundation. The “Tamang Laro, Tamang Panalo” webinar series provides education on maintaining a healthy gaming-life balance, managing emotional and mental health, and recognising when to seek intervention. Personalised financial coaching sessions are also offered to guide players in making sound financial decisions, as demonstrated in the support provided to the jackpot winners, the most recent one being the ₱312 million Lucky Spin winner.

DigiPlus’ self-exclusion tools and educational programmes align with PAGCOR’s mission to promote responsible gaming and create a safer environment for players. This latest advancement in responsible gaming is a testament to DigiPlus’ vision of creating a sustainable and enjoyable gaming ecosystem that puts people first.

The post DigiPlus Introduces Tools for Players to Control Gaming Time and Bets appeared first on European Gaming Industry News.

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Skillhub Online Games Federation and Global Esports Federation Unite to Bring Global Esports Tour 2025 to India

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In a landmark moment for India’s esports ecosystem, Skillhub Online Games Federation (SOGF) proudly announces its collaboration with the Global Esports Federation (GEF) to bring the Global Esports Tour (GET) 2025 to Mumbai. This historic event marks the first-ever Global Esports Tournament in India, further cementing the nation’s role as an emerging force in global esports.

The first ever Global Esports Tournament in Mumbai will bring together top-tier professional esports athletes and teams to compete on a world-class stage. This initiative is a direct outcome of the Strategic Framework Agreement signed between SOGF and Global Esports Federation (GEF) in October 2024, signifying a long-term commitment to developing esports across South Asia, including India, Nepal, Bangladesh, Bhutan, Pakistan, and Sri Lanka.

The Global Esports Tour Mumbai will not only showcase high-stakes competition but also serve as a launchpad for India’s esports talent onto the international stage. By hosting a prestigious event of this scale, SOGF aims to bolster India’s esports industry, drive investments, and create unparalleled opportunities for athletes, developers, and organizations within the ecosystem.

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Sibtain Baqri, Chief Executive Officer of SOGF, expressed his excitement about this milestone,“Bringing the Global Esports Tour to India is more than just a tournament—it’s a movement. This event underscores India’s potential as a global esports powerhouse, providing athletes with an international platform to showcase their skills and compete at the highest level. SOGF is committed to nurturing this ecosystem, and GET Mumbai is just the beginning of our larger vision to shape the future of esports in India and South Asia.”

Echoing this sentiment, Rustam Aghasiyev, Chief of Staff & Operations at Global Esports Federation, stated: “We are thrilled to expand our global footprint with the Global Esports Tour in Mumbai, which will introduce a new wave of opportunities for Indian and South Asian esports communities. Our partnership with SOGF is a significant step toward fostering an inclusive, competitive, and world-class esports environment in the region.”

Global Esports Tour, the GEF’s professional team series, showcases elite-level esports athletes and teams competing in high-stakes tournaments across iconic global cities. The arrival of GET in India underscores GEF’s commitment to fostering inclusivity and delivering impactful experiences for athletes, audiences, and stakeholders alike.

The post Skillhub Online Games Federation and Global Esports Federation Unite to Bring Global Esports Tour 2025 to India appeared first on European Gaming Industry News.

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