Sports betting technology firm Newgioco Group has begun trading its shares on the Nasdaq.
The move was described by CEO Mike Ciavarella at the start of trading as a “major milestone” as the company aims to increase its visibility in the US market, with shares priced at the time of writing at US$3.95.
Ciavarella said: “The listing of our common stock on the Nasdaq is a major milestone for the company and the result of approximately twenty years of dedicated business development in the regulated leisure betting industry.
“We believe that listing on the Nasdaq should broaden our shareholder base by attracting new investors, enhance Newgioco's visibility in the marketplace and liquidity of our stock, and ultimately, build long-term shareholder value.”
Newgioco Group operates a retail network of around 2,300 betting locations in Italy and boasts a proprietary betting technology platform Elys Gameboard.
