Newgioco CEO: Italian lockdown to impact revenues

Coronavirus shutdown in Italy and around the world to hit gambling operators hard.

Italy.- According to Italian gambling operator Newgioco, the government’s decision to lockdown the country will have a major impact on the gambling industry and the revenues generated by operators.

Sporting events have been cancelled across the country and around the globe, so even though online betting services are still available to consumers, there is very little sporting activity for them to wager on.

“We are closely monitoring the active circumstances and the impact of Covid-19 on our product demand and business,” Newgioco Chairman and Chief Executive, Michele Ciavarella, told iGB.

“Our priority is protecting employees, supporting our customers and providing timely information to our investors and stockholders.

“Along with our management teams in Italy and Austria, we remain in close contact with local and national health authorities and have implemented notification and prevention procedures at our administration offices and physical locations,” he added.