Newgioco: Rises on plans to install self-service betting kiosks

Elys BMG

12/10/2020 17:33

** Shares of betting firm  NWGI.O  jump 2.70% to $2.05 - on
course to snap a four-session losing run
    ** Newgioco says it plans to install up to 400 new
self-service point-of-sale locations throughout Italy, with a
view to expand into European and U.S. markets  urn:newsml:reuters.com:*:nBwtYjyda
    ** The first 100 terminals to be operational in Italy by Dec
2020 and an additional 300 to be installed through 2021 - NWGI
    ** "At full capacity, we expect that each new terminal
location could generate approximately $35,000 to $40,000 in
gross gaming and other value added service revenues on an annual
basis," says NWGI executive Alessandro Marcelli
    ** As of Friday's close, NWGI shares had nearly halved in
market value this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com))