500.com to acquire Multilotto

China-situated online sports lottery provider, 500.com, has entered into an acquisition agreement for a 93 percent stake in Malta-headquartered The Multi Group Ltd (Multi Group) for Euro 49.8 million.

Multi Group operates Curacao-licensed online lottery betting company Multilotto.com.

Multilotto has a strong and balanced customer portfolio that has created a solid foundation for its expansion across Europe, 500.com said.

Together with Multi Group’s recently granted remote gambling licenses from Malta, the UK and a remote bookmaker’s license from Ireland, 500.com believes Multilotto will further strengthen its market position and rapidly expand into new geographic regions.

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