he locations currently generate approximately USD 3M per year in gross betting wagers and have approximately 500 online gaming accounts.
"The company recognizes several remarkable opportunities as a result of the 2016 Stability Law in Italy," said company CEO Michele Ciavarella. "We intend to fully capitalize on these opportunities with our valuable 2021 online license and the upcomin gland-based tender in June this year."
The company acquired the locations at no cost from a competing dotcom operator and will be integrated under its Multigioco online license with Newgioco branding and new online sports betting platform by the end of March 2016.
The company will invest up to $150,000 for rebranding, refurbishing and marketing as part of the deal, which is expected to add approximately $250,000 in annual earnings to our operations.