Newgioco Group is All Set to Explore the U.S. Gambling Sector
Newgioco Group, Inc., a vertically integrated enterprise, is a leisure gaming/gambling company. It primarily operates in Italy but has slowly expanded its operations across the globe.
FREMONT, CA: Newgioco Group, Inc. generates income by providing retail web-based and land-based gambling services and products in regulated nations. The enterprise also extends solutions for both the B2C and B2B markets.
In the imminent months, some tactical acquisitions are likely to take place by Newgioco. These acquisitions are expected to fuel the firm’s growth in the retail gaming market in Italy.
After its success in Italy, the firm is all set to explore worldwide options. The U.S. seems to be the most preferred option. Over the upcoming years, Newgioco is planning to capture a few of the recently deregulated U.S. sports betting arena which is worth multi-billions of dollars through the enterprise’s proprietary gambling platform (ELYS).
At present, the Italian operations drive almost all of the firm’s revenue generation. Newgioco is confident that their success and experience gained in Italy can serve as the base for making progress in the potential gambling market in the U.S., in competitive tenders. The decision is a timely one as several U.S. states are allowing expansion in regulated sports betting. Accelerated revenue growth is expected through expansion into the U.S. market.
The U.S. Supreme Court has canceled the Professional and Amateur Sports Protection (PASPA) Act in 2018. This federal law fundamentally restricted complete sports betting to the state of Nevada for more than two decades. This move opens up significant market opportunities for companies like Newgioco.
With the enterprise’s push into the American states, Newgioco is planning to publish a demo app customized for the U.S. soon through one of its partnerships based in Montana.
The expansion into the U.S. would be a significant move in the firm’s attempt to drive about forty percent of revenue from the non-Italian market by the year 2020.
“It would take a few more years before the rules for leisure sports betting and online gambling are standardized in U.S., and we believe that it's a marathon and not a sprint. Newgioco may take time to get established in the U.S. but will surely become one of the leaders,” says Michele Ciavarella, CEO, and Director of Newgioco Group. Newgioco Group, Inc. was featured in CIOReview as one of the 20 Most Promising Technology Solution Providers for Casinos 2018.