Le Sports invests US$10m in gaming company

Le Sports announced yesterday (25thFebruary) the company has contributed US$10 million as a lead investor in Chinese online sports lottery company 8win which has just completed Round B fundraising.

Under their partnership, the two sides will work together on sports gaming services. Le Sports will set up CSL betting on its website from the 3rd March when the top soccer tournament in China kicks off. In addition to CSL betting, 8win will help Le Sports design and launch products for other sports events, focusing mainly on basketball and e-sports.

“The two sides will develop a soccer lottery around (our) exclusive CSL resource, enabling CSL fans worldwide to experience the complete joy and passion that soccer matches bring to them, just like Premier League fans,” said Le Sports CEO Lei Zhenjian.

8win, founded in 2013, is a China-based provider of sports betting. The company applied for a betting license in the UK last year when it set up an office in London.

Source: PEdaily

Proofread by John Devlin.