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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2026 SPiCE South Asia Awards
QTech Games wins Innovation of the Year at the 2026 SPiCE South Asia Awards
QTech Games, the leading game aggregator for emerging markets, has been named Innovation of the Year 2026 at the prestigious SPiCE South Asia Awards, held at the iconic Shangri-La Colombo in Sri Lanka, overcoming strong regional competition.
The award celebrates the South Asian iGaming innovator that has demonstrated groundbreaking technological innovation, delivering tailored solutions over the past 12 months while excelling in user engagement and sustained growth.
QTech’s recognition follows the successful launch of QTech Hybrid, a platform that enables players to seamlessly transition between retail and digital gaming environments. The solution combines QTech Games’ AI-powered casino lobby, QTech Play, with a retail management system and a state-of-the-art Agent Management System (AMS), allowing operators to scale brick-and-mortar operations online. QTech Hybrid represents a next-generation omnichannel solution, bridging the gap between physical and digital casino experiences.
“We’re thrilled to be recognised for Innovation of the Year in South Asia,” said Philip Doftvik, CEO of QTech Games.
“This award reflects the collective effort of our team and our network of innovative suppliers. From QTech Hybrid to QTechLabs and our Value Added Services, we continue to deliver solutions that drive revenue and engagement for our partners worldwide.
“Being acknowledged for our innovation, market impact, and operational results validates our strategic direction. It underscores QTech’s commitment to setting the gold standard in emerging markets and shaping the future of online casino gaming across Asia and beyond.”
With this accolade, QTech Games reinforces its position as a pioneer in emerging market aggregation, demonstrating that innovative technology and omnichannel solutions are key to scaling operations and enhancing player experiences across the globe.
The post QTech Games wins Innovation of the Year at the 2026 SPiCE South Asia Awards appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Asia
GLI Becomes the First Company Accredited by PAGCOR to Test and Certify iGaming Platforms in the Philippines
Gaming Laboratories International (GLI) has been named an Independent Testing Laboratory (ITL) by the Philippine Amusement and Gaming Corporation (PAGCOR). GLI is the first gaming testing company to achieve the accreditation and is now authorised to test and certify iGaming platforms in the Philippines.
GLI will bring its global and unsurpassed expertise to the Philippines, helping to ensure PAGCOR meets its policy and regulatory objectives as set out in its rules. GLI’s presence and its GLI-19 Standard will also help suppliers who wish to successfully and compliantly enter the marketplace.
Submissions will be tested against “GLI Standard Series GLI-19: Standards for Interactive Gaming Systems,” which has been widely accepted and adopted by jurisdictions around the world.
PAGCOR Chairman and CEO Alejandro H. Tengco said: “Regulated gaming markets ensure a safer and more sustainable gaming industry for all to participate in. A regulated market enables compliance to responsible gaming standards and the provision of tax revenue for reinvestment back into the community. PAGCOR now requires all iGaming B2B suppliers operating in the Philippines to be accredited to ensure they comply to the rigorous requirements needed to protect iGaming players. We are pleased to acknowledge GLI as the first testing and game certification provider to be accredited in the Philippines under this new framework. GLI is a global leader in regulatory advisory, iGaming and EGM testing / certification, and data security.”
GLI President and CEO James R. Maida said: “We are grateful to PAGCOR Chairman and CEO Alejandro H. Tengco and to the entire PAGCOR team for the trust they continue to place in GLI. Under the Chairman’s skillful leadership, the market in the Philippines has improved steadily, and we are honored to be the first company to be accredited for iGaming testing and certification, and we look forward to working side- by-side with PAGCOR to meet their policy objectives.”
The post GLI Becomes the First Company Accredited by PAGCOR to Test and Certify iGaming Platforms in the Philippines appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Asia
Team India and Türkiye Win Gold at the Global Esports Games Mumbai
Team India and Türkiye won Gold at the Global Esports Games Mumbai, delivering electrifying performances in front of a packed arena and thousands more tuning in online worldwide. India’s Anuhith Gosala edged Kazakhstan 3–2 in a thrilling Clash Royale Grand Final, while Türkiye secured a commanding 3–1 victory over Mongolia in the Dota 2 Grand Final. With a Gold in Clash Royale and a Bronze in Dota 2, Team India was crowned Overall Champion.
India stormed into the Clash Royale Grand Final with a 2–1 win over the USA in a tense lower bracket decider, setting up a rematch with Kazakhstan. Having fallen 0–2 in the upper bracket, India turned the tables when it mattered most, as Anuhith Gosala delivered a clutch performance to seal a dramatic 3–2 victory and the Gold medal.
In Dota 2, Team India secured Bronze after falling to Mongolia in the lower bracket. Mongolia advanced to the Grand Final, where Türkiye asserted its dominance with a composed 3–1 victory to take the title.
Sharing his thoughts on the victory, Team India’s Clash Royale gold medallist, Anuhith Gosala, said: “This moment is surreal. To win the Grand Finals here in India, in front of a home crowd, makes it even more emotional. The preparation was relentless, the pressure was intense, and every match tested my limits—but that’s what makes this victory so special. Hearing the cheers, feeling that energy, and lifting this title for the country is an indescribable pride. This is for India, and for everyone who believes in us. I hope this win inspires many others to follow in our path.”
Sir Paul J. Foster, President & CEO, Global Esports Federation, said: “As the Global Esports Games Mumbai comes to a close, we celebrate not only the incredible performances of our athletes, but the spirit of unity and connection that defines our global community. Mumbai has delivered exceptional energy, passion, and hospitality, reinforcing our belief that esports transcends borders and brings the world together. We are deeply grateful to our partners in India for setting a new benchmark for excellence—and we now look ahead with excitement to Los Angeles, where this journey continues on an even greater stage.”
Shripad Ashtekar, Founder of Eflag Corp, said: “Over the past few days, we have witnessed not just world-class competition, but the coming together of talent, innovation, and community on a truly global stage. We hope to keep delivering such platforms and strong foundations for future growth by unlocking new opportunities for Indian players, creators, and the broader AVGC ecosystem. We are proud to have played a key role and look forward to building on this momentum in the years ahead.”
Organized by the Global Esports Federation in partnership with Eflag Corp, with the support of Maharashtra Tourism, the Global Esports Games Mumbai was inaugurated by the Hon’ble Chief Minister of Maharashtra, Shri Devendra Fadnavis. Over four days, Mumbai welcomed 48 elite athletes from 19 countries, emerging from a global field of 78 nations in the Regional Qualifiers.
The post Team India and Türkiye Win Gold at the Global Esports Games Mumbai appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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