500.com Limited Announces Resignation of Chief Risk Officer

By PR Newswire,  July 10, 2014, 07:00:00 AM EDT

SHENZHEN, China, July 10, 2014 /PRNewswire/ -- 500.com Limited (NYSE:WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today announced that Mr. Anthony Liu will resign from his post as Chief Risk Officer and Investor Relations Director effective July 14, 2014. Mr. Liu will pursue other professional opportunities. 500.com has begun a search for Mr. Liu's replacement.

"I want to express my gratitude to Mr. Liu for his extraordinary contributions to the Company over the past three years," commented Mr. Man San Law, Chairman and Chief Executive Officer of 500.com. "Mr. Liu has been a valued colleague and was instrumental in bringing our financial controls up to global standards during the Company's IPO process. We wish Mr. Liu all the best in his future endeavors."

About 500.com Limited

500.com Limited (NYSE:WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China. According to iResearch, the Company had the largest market share among online lottery service providers for the first six months of 2013, in terms of the total purchase amount of sports lottery products.

Safe Harbor Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For more information, please contact:

500.com Limited



In China

Mr. Christian Arnell

Phone: +86-10-5900-1548

E-mail: carnell@christensenir.com


Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@ChristensenIR.com

SOURCE 500.com Limited

This article appears in: News Headlines

Referenced Stocks: WBAI

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