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.

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