Newgioco partners United Tote for US retail sports betting expansion10th March 2020 10:31 am GMT
Italy and US-focused gaming operator Newgioco Group has partnered Churchill Downs Incorporated’s United Tote subsidiary to expand its retail sports betting offering in the US.
The strategic alliance will see United Tote supply its self-service betting terminals to Newgioco, which has already established sports betting deals in the US with Washington DC sports bar chain Handle 19 and Northern Winz Casino in Montana.
“As we move to pivot our advanced ELYS sports betting technology from our regulated European operations into US facing operations, we are pleased to have established a relationship with a reliable supplier that can deliver consistent quality betting terminals for distribution of our retail sports betting channel in the US,” said Newgioco chief executive Michele Ciavarella.
“Similar to the proliferation of retail sports betting existing in many regulated countries, Newgioco firmly believes that the future of US sports betting will be built on a solid land-based foundation throughout the US.
“We look forward to working closely with United Tote’s professional team by sharing our extensive retail sports betting know-how to develop one of the best all channel experiences in the country, and are proud to partner with a firm that carries a reputable and professional long-standing history in the industry. We are honored to join their extensive list of top-quality clientele.”
Shares in Newgioco Group Inc (NAQ:NWGI) closed down 18.52 per cent at $2.20 per share in New York Monday, while shares in Churchill Downs Incorporated (NSQ:CHDN) fell by 10.97 per cent to $104.92.