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Italy’s Newgioco acclaims maiden profit as Q3 revenue doubles

29th November 2016 7:02 am GMT

Following a two-year development phase, Italian gaming operator Newgioco Group has posted a maiden net profit for the third quarter of 2016, as revenue for the period more than doubled compared to last year.

Third quarter revenue climbed to US$2.6m, an increase of 133 per cent year-on-year, boosted by a number of acquisitions that expanded the company's Multigioco-branded land-based gaming business in Italy.

Growth was also attributed to Newgioco's iGaming business, which generated $22.2m in turnover, up 34 per cent versus [...]

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