500.com to Hold Annual General Meeting on December 30, 2016

SHENZHEN, China, Dec. 16, 2016 /PRNewswire/ -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), a leading online sports lottery service provider in China, today announced that it will hold its annual general meeting of shareholders ("AGM") at 10 a.m. on December 30, 2016, Beijing / Hong Kong Time at 500.com Building, Shenxianling Sports Center, Longgang District, Shenzhen, China.

The AGM will discuss and seek adoption of the following resolutions to be proposed by the Company:

Proposal No. 1: A special resolution for the amendment of Article 89(b) of the Company's Second Amended and Restated Memorandum and Articles of Association;

Proposal No. 2: Ratify and approve the appointment of Ernst & Young Hua Ming as the independent registered public accounting firm of the Company;

Proposal No. 3: Approve the inclusion of the Company's audited consolidated financial statements for the fiscal year ended December 31, 2016 in the Company's 2017 annual report.

Holders of record of ordinary shares of the Company at the close of business on November 16, 2016 are entitled to notice of, and to vote at, the AGM or any adjournment or postponement thereof. Holders of the Company's American depositary shares ("ADSs") who wish to exercise their voting rights for the underlying ordinary shares must act through Deutsche Bank Trust Company Americas, the depository of the Company's ADS program.

500.com has filed its annual report on Form 20-F, including its audited financial statements, for the fiscal year ended December 31, 2015, with the U.S. Securities and Exchange Commission. 500.com's Form 20-F can be accessed on the "SEC Filings" section of the Company's Website at http://ir.500.com as well as on the SEC's website at http://www.sec.gov. Shareholders may also obtain a hard copy of the Company's annual report on Form 20-F, free of charge, by writing to Mr. Joseph Zhou, 500.com Limited, 500.com Building, Shenxianling Sports Center, Longgang District, Shenzhen 518115, China, or by email to [email protected].

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.

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
[email protected]

Christensen

In China

Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: [email protected]

In US

Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: [email protected]

SOURCE 500.com Limited