500 Dot Com still waiting to resume crucial Sweden operations

Shenzhen-based online sports lottery service provider has announced that Swedish regulators continue to hold up its eGaming license to the financial detriment to the firm.

The Multi Group, which is a Malta-based subsidiary of the company, has been awaiting the renewal of its eGaming license in Sweden, which formerly produced more than 60% of the company’s revenues.

500 Dot Com stated that its subsidiary “has submitted all the application materials and is in close communication with Sweden’s eGaming regulatory authority to complete the renewal process as quickly as possible.” However, the ongoing delay has “materially and adversely impacted” the company’s revenues.

500 Dot Com has also been implicated in a major bribery scandal in Japan which has led to major changes in the firm’s leadership.