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500.com buys Maltese parent of Multilotto.com

Struggling online lottery operator 500.com has made another attempt to diversify its business model by acquiring the parent company of Nordic-facing online gambling operator Multilotto.com. On Friday, the Nasdaq-listed 500.com announced that it had reached a deal to acquire 93% of the outstanding shares of The Multi Group Ltd, the Malta-headquartered parent of Multilotto. The deal, which is worth €49.8m (US $56m), is subject to regulatory approval. Multilotto offers lottery betting and online casino services via a Curacao eGaming…

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