Net revenue of Shenzhen-based online sports lottery service provider 500.com grew more than five-fold in the second quarter of 2018, thanks to the stellar performance of its newly acquired Maltese-based online lottery betting and online casino operator TMG Group.

Financial data showed 500.com’s net revenue for the second quarter of 2018 stood at CNY30.4 million ($4.6 million), 582.68 percent higher than RMB4.6 million ($673,785) reported in the same period last year.

Majority of the firm’s net revenue came from its online lottery betting and online casino in Europe, which accounted for 89.1 percent of the business, according to 500.com CEO Zhengming Pan. The company reported that TMG contributed CNY27.1 million ($3.97 million) in revenue for Q2 2018.

However, 500.com’s net revenue in the three months ending June 30, 2018 was slower than the CNY38.4 million it posted in the first quarter of the year.