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500.com Limited has announced that it has entered into an agreement to acquire a majority stake in Loto Interactive Limited. 500.com will acquire 169,354,839 Loto Interactive shares for HK$105m (US$13.5m).

The Company currently owns approximately 33.7% of the issued share capital of Loto Interactive. Upon completion of the acquisition, the Company expects to own approximately 54.2% of the issued share capital of Loto Interactive and Loto Interactive is expected to become a subsidiary of the Company.