Monthly Archives: February 2016

Kiwi gambling spending up, except for lotteries; SkyCity VIP’s epic binge

New Zealand gamblers spent slightly more on pretty much all forms of legal betting last year except for lottery products.

According to data released by the country’s Department of Internal Affairs, Kiwis spent a combined $2.09b on gambling in the 2014-15 fiscal year, 1.2% more than in the previous year. Adjusted for inflation, the numbers have barely budged over the past six years, ranging from $2.06b in 2011 to $2.1b in 2012.

Lottery products were the sole decliners, as sales fell 10% to $894m, while operators’ take fell 9% to $420m. The decline snapped a winning streak that had seen lottery sales rising an average 5% per year since 2010. The reversal was blamed on a lack of mega-jackpots, as only one Powerball prize topped the $20m mark.

Despite its routine bitching about losing money to international betting sites, the NZ Racing Board (TAB) reported turnover up 13% to $2.07b while the operator’s share rose 5% to $325m. This marks the fourth straight year of rising numbers, which the NZRB credited to increased sports betting interest and a new TAB mobile wagering app.

Sports lottery operator 500.com reports third straight quarter of nil revenue

Online sports lottery operator 500.com turned in its third consecutive quarter of nonexistent revenue following China’s industry-wide suspension of online lottery sales.

On Wednesday, the Shenzhen-based 500.com reported net revenue of RMB 700k ($100k) in Q4 2015, down from RMB 146m in the same quarter the previous year. The company reported a net loss of RMB 109.7m (US $16.9m) for the quarter, compared to a net profit of RMB 14.5m in Q4 2014.

For the year as a whole, 500.com’s revenue was down nearly 84% to RMB 99.6m, while the company recorded a net loss of RMB 324m compared to a RMB 157m profit in 2014.

This marks three straight quarters that 500.com has reported nil revenue, a downturn brought about by the “temporary” suspension of online lottery sales imposed by Beijing authorities last March. The authorities were prompted to act after an audit uncovered widespread fraud among unauthorized online lottery agents.

Sports lottery operator 500.com reports third straight quarter of nil revenue

Online sports lottery operator 500.com turned in its third consecutive quarter of nonexistent revenue following China’s industry-wide suspension of online lottery sales.

On Wednesday, the Shenzhen-based 500.com reported net revenue of RMB 700k ($100k) in Q4 2015, down from RMB 146m in the same quarter the previous year. The company reported a net loss of RMB 109.7m (US $16.9m) for the quarter, compared to a net profit of RMB 14.5m in Q4 2014.

For the year as a whole, 500.com’s revenue was down nearly 84% to RMB 99.6m, while the company recorded a net loss of RMB 324m compared to a RMB 157m profit in 2014.

This marks three straight quarters that 500.com has reported nil revenue, a downturn brought about by the “temporary” suspension of online lottery sales imposed by Beijing authorities last March. The authorities were prompted to act after an audit uncovered widespread fraud among unauthorized online lottery agents.