Newgioco receives certification for US sportsbook launch
Newgioco has obtained its Gaming Labs International Events Wagering System certification, which will allow the operator to launch its Elys betting platform in Washington DC.
The sports betting operator is now conducting the second phase of its testing of the self-service betting terminal through its collaboration with the United Tote Company.
Commenting on the news, Newgioco Michele Ciavarella, said: “Completing the first phase of GLI certification is another major milestone in positioning Newgioco to obtain the required licenses and commence operations in the US market.
“The certification is a key component of our multi-year business growth strategy and the investments we made for expansion into new markets outside of Italy.
“Getting it right the first time it critical to a successful launch in the US and I am very pleased with the outstanding dedication of our software developers, compliance team and project managers at Odissea to accomplish this mandate.”
Newgioco reported a 19% drop in revenue year-on-year for the first half of 2020, at $15m. Turnover fell 11% to $210m, while online turnover grew 4% to 182.2m.
Despite this, the operator halved its net loss for the period as a result of reduced operating costs. Costs fell from $2.6m in H1 2019 to $881,377 in 2020.
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