Past half year，188bet online live casino moves frequently，Business valuations soar。Tencent Technology exclusively learned today，188bet online live casino will complete Series B financing at the end of March，Financing amount exceeds 7 billion yuan，188bet online live casino’ pre-investment valuation is 13.5 billion yuan，Post-money valuation 20.5 billion yuan。

188bet online live casino originally planned to raise 3 billion yuan through the issuance of new shares，Accounting for about 18% of the total equity after financing。Today，188bet online live casino’ financing more than doubled the previous estimate。

188bet online live casino’ revenue in 2014 was only 1.0.7 billion yuan，Gross loss 1.3.9 billion yuan；As of November 30, 2015，188bet online live casino revenue reaches 2.9.1 billion yuan，Gross loss 3.8.4 billion yuan，Net loss reaches 5.6.9 billion yuan，The annual loss is expected to exceed 600 million。

Main reason for loss: continued investment in copyright

The important reason why 188bet online live casino lost money，188bet online live casino has significantly increased its investment in copyright in the past year。September 2015，188bet online live casino announced the start of the 2016/2017 season，Obtained the exclusive rights to broadcast the Premier League in Hong Kong, China for the next three seasons。

188bet online live casino wins the exclusive rights to operate the ICC International Champions Cup in China、City marathon event operation rights、Exclusive event operation rights of the Women’s Super League、Reached strategic cooperation intention with Wukesong Stadium，Building smart venues (analogous to MSG)。

188bet online live casino is also involved in smart hardware，Established a joint venture with Feige to promote smart bicycles、Established a joint venture with Yidian Technology to jointly develop drones、Established a joint venture with Shuhua to develop smart treadmills，And acquire running community and smart bracelet operating manufacturers。

Looking at the overall trend，188bet online live casino will lose more in 2016，Because compared to revenue，188bet online live casino invests more。

As of January 19, 2016，LeTV and Beijing Guoan have reached an in-depth strategic partnership，Will operate in the club、Club brand building、Comprehensive strategic cooperation in the construction of the club’s youth training system and other aspects，188bet online live casino sponsored Beijing Guoan with 100 million yuan。

January 27, 2016，188bet online live casino acquired the entire equity of sports anchor live broadcast platform Octopus TV for a consideration of 300 million yuan。After completion of acquisition，Octopus TV will become a UGC live broadcast platform under 188bet online live casino。

February 23, 2016，188bet online live casino announced the formal establishment of a comprehensive strategic partnership with Sports and Olympic Power，Obtained the exclusive new media broadcast rights of the Chinese Super League for the 2016 and 2017 seasons for 2.7 billion yuan。

188bet online live casino will broadcast all 240 games in high definition in the new season，Will be in the United States、India、Rebroadcast in more than 30 countries and regions including Singapore。To this point，Chinese Super League broadcast officially enters "Internet" time，And bring the Chinese Super League into the charging era。

What are the main businesses of 188bet online live casino，respectively event operations、Sports Media、Sports Marketing、Sporting Goods、Smart hardware，In the future, you may get involved in club operations、Venue Operations、Sports Big Data、Sports Lottery、Sports Ticketing、Fitness travel, etc.。

188bet online live casino’ monetization includes self-made content IP、Monopoly copyright resources、Hardware、Game、Lottery and other multiple points for cashing out。However，From the perspective of expectations in the future，188bet online live casino is expected to continue to suffer losses。

Continue to introduce well-known executives

March 16 this year，188bet online live casino Announcement，Former CCTV beauty anchor Liu Yuxi officially joins 188bet online live casino，Become a partner of 188bet online live casino Agency。

188bet online live casino Agency is the latest wholly-owned subsidiary of 188bet online live casino established in March 2016，Business mainly includes sports entertainment marketing planning、Athlete Agent、Sports public relations, etc.。

This is another executive introduced by 188bet online live casino in the past six months。Until April 1st，A more important figure、CCTV 5 sets of Godfather、A veteran who has worked for Infront China for more than 7 years、63-year-old Ma Guoli will also join 188bet online live casino，Served as Vice Chairman of 188bet online live casino。

Ma Guoli said in an interview recently，Not afraid of ruining your lifetime reputation。Ma Guoli also said: “It is necessary to have such an opportunity to join a digital platform that is developing the fastest，Personally speaking，Can satisfy my curiosity。”

There is a gambling agreement behind the high-value investment

188bet online live casino recently announced，Film and television star Sun Honglei becomes a shareholder of 188bet online live casino in Series B financing。

188bet online live casino CEO Lei Zhenjian said on the official Weibo: "It feels like LeTV has another good-looking person in charge，Brother Hong Lei said，He wants to organize a 188bet online live casino billiards team，He is the captain，Now recruiting team members。”

And on March 16，HNA Caesars Travel Group issued an announcement，Plans to invest 600 million yuan in Jiaxing Yongming Sports Investment Partnership (referred to as "Jiaxing Fund")，After the fund is established, it plans to participate in 188bet online live casino’ Series B financing with 1.2 billion yuan。

Announcement display，Jiaxing Fund will be initiated and established by HNA Capital Investment and HNA Capital Group，HNA Caesars Travel joins the fund as a new limited partner。After the establishment of Jiaxing Fund，Plans to participate in 188bet online live casino’ Series B financing with 1.2 billion yuan。

Announcement displayed simultaneously，188bet online live casino’ Series B financing scale is 7 billion yuan，Pre-Series B investment valuation 13.5 billion yuan，Post-money valuation 20.5 billion yuan，After completion of this investment，It is expected that Jiaxing Fund will hold 188bet online live casino 5.85% equity。

After 188bet online live casino Series B Financing，Valuation also jumped rapidly。Only in April 2015，188bet online live casino’ Series A financing post-investment valuation reaches 2 billion yuan，Financing 2.200 million yuan，Post-investment valuation of Series A+ financing in April 2015 28.400 million yuan，Financing 5.7.9 billion yuan。

188bet online live casino spent crazy money to achieve a high valuation，Of course，188bet online live casino also paid the price。This means that 188bet online live casino sold a total of 34 units in this round.14% equity，The equity dilution ratio is not small。Also，188bet online live casino also signed a gambling agreement。

Original shareholder of the company (Lele Interactive、Beijing Pengyi、LeTV) joint commitment，188bet online live casino must complete the listing work approved by investors before December 31, 2018。

Otherwise，The original shareholders will issue a written repurchase request within 2 months after the investor (and each investor shall decide independently)，Minimum return calculated based on "total investment + 12%/year (simple interest)"，Acquire all shares of 188bet online live casino held by investors in cash and pay all consideration。

There are recent rumors，Strategic Emerging Board is planned to be suspended，188bet online live casino has been affected。To this，188bet online live casino CEO Lei Zhenjian said to Tencent Technology，The company has not stated that it will sprint for the strategic emerging board，The suspension of the strategic emerging board will not affect the company。

Lei Zhenjian said，“From the trend，The RMB market 188bet online live casino definitely attract more attention in the future。The impact of the suspension of strategic emerging boards is divided into two aspects，For high-quality companies，Mainly doing business well，Not afraid，For companies that are not running well，Just a slap in the face。”