500.com to acquire 41 pct of MelcoLot

Sports lottery provider 500,com Ltd. is buying a 40.65 percent stake in MelcoLot Ltd. for approximately HK$322.2 million (US$41.3 million) through a share purchase agreement, according to a press release from the lottery operator on Tuesday.

The total consideration for the share sales is equivalent to approximately HK$0.252 per sale share.

The recent announcement follows closely from an acquisition made by 500 .com, which acquired  approximately 93 percent of outstanding shares of The Multi Group Ltd. for a total consideration of EUR 49.8 million (US$56 million) in cash.

Headquartered in Malta, Multi Group operates Multilotto,com, which is considered one of the top online lottery betting and online casino platforms in the Nordic countries where it holds substantial market share.