China's Online Lottery Ban Is Hard On

Hong Kong-based online lottery operator diversifies into payment processing

Once high-flying Hong Kong online lottery seller has undoubtedly been feeling the pain of the Chinese government's ten month "temporary" ban on online lottery sales (see previous InfoPowa reports) and this week started what appears to be a diversification program.
The company has announced an agreement to buy a controlling 63 percent interest in the Chinese licensed online payment processing company Zhejiang Shangmeng Technology Limited for a consideration of US$35.6 million.
Zhejiang operates the processing website, and will work with the management to expand and diversify the business and reduce its own processing costs.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,462


The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.

See More Posts