500.com Limited Announces Acquisition of Shares of MelcoLot Limited

andnbsp;500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China , today announced that it entered into a share purchase agreement ("Share Purchase Agreement") pursuant to which it has conditionally agreed to purchase from Melco LottVentures Holdings Limited an aggregate of 1,278,714,329 shares (the "Sale Shares") of MelcoLot Limited ("MelcoLot"), a company listed on the Hong Kong Stock Exchange (Stock Code: 8198), representing approximately 40.65% of MelcoLot's existing issued share capital as of the date of this announcement. The total consideration for the Sale Shares is approximately HK$322.2 million (US$41.3 million ), equivalent to approximately HK$0.252 per Sale Share. Closing of the acquisition of the Sale Shares is subject to certain conditions set out in the Share Purchase Agreement. Click here for more.

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