500.com Limited Announces Unaudited Financial Results For the First Quarter of 2018
SHENZHEN, China, May 10, 2018 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today reported its unaudited financial results for the first quarter ended March 31, 2018.
- SHENZHEN, China, May 10, 2018 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today reported its unaudited financial results for the first quarter ended March 31, 2018.
- As of April 3, 2018, the Company has received the payment of the total consideration in full, or RMB127.5 million (approximately US$19.4 million).
- Net revenues were RMB38.4 million (US$6.1 million), compared with RMB34.9 million for the fourth quarter of 2017, and RMB3.5 million for the first quarter of 2017.
- Such voluntary suspension materially and adversely impacted our financial results for the first quarter of 2018.