Italian online gambling company Newgioco is planning to expand in the US sports betting market. With sports betting legalized in the US and more and more state regulating sports gambling, several European companies are eyeing the newly evolving market.
While revealing its plans to expand in the US market the company also reiterated its commitment to expand in the domestic Italian market.
Last month, Newgioco said that its distribution network has reached 2,010 webshop locations around the country during the second quarter of the year.
In its recent statement, the company has said that they are open to offers and also looking for opportunities in the US market.
The group has also said that they would release demo sports betting app tailored to suit the demands of the US sports betting market. It also revealed that the company’s new app would soon go live with partnerships in Montana.
Newgico has already partnered with Chippewa Cree Tribe in Box Elder, Montana earlier this year. The tribe is planning to go live with Newgioco’s ELYS proprietary sports betting platform at its Northern Winz Casino.
Northern Winz General Manager Raymond Parker said that their decision to select Newgico came after scrutiny of several different gaming services providers.
Commenting on their expansion plans, Newgioco CEO and Director Michele Ciavarella said that standardizing rules for leisure sports betting and online gambling in the US will take a few more years and that they believe “its a marathon and not a sprint.”