Chinese internet giant Baidu’s lottery business has been renamed as Baidu Sports, according to a recent report.

Li Huan, head of the former Baidu Lottery, is reported to have taken the position of Chief Executive Officer (CEO) of the new umbrella. Meanwhile, the newly-established Baidu Sports has been in negotiations with several groups as it seeks investment.

Baidu Lottery is operated by Beijing Lehecai, which became a part of Baidu in 2014. Lehecai focuses on sales of sports cultural products and information services.

Analysts believe that compared with its rivals Alibaba, Tencent, LeEco and PPTV, Baidu has not set up its sports business as of now. Baidu has no comment on this story at present.

In May, Baidu announced a strategic partnership with UK-based sports media company Perform Group. The pair launched a football information portal goal.baidu.com, as part of the partnership between Baidu and Goal.com, a Perform-owned digital football brand.

Source: iheima

Proofread by Sean O Diobhilin