Newgioco, a global interactive gaming and sports betting company, has posted its latest update on the impact that the corona virus is having on the firm’s operations.
On the 8th of March, Italian authorities imposed restrictions on all public gatherings as well as travel unit the 3rd of April. As a result, the firm temporarily closed close to 150 of its betting shops around Italy.
On the 10th of March, the government in Italy imposed additional restrictions on all travel related activities in Italy and this includes trans-border crossing.
Closing of all physical location will not affect the firm’s online as well as mobile business operation. But, a number of professional sports activities have been postponed and some cancelled, which is likely to affect the firm’s overall betting handle as well as revenues.
Michele Ciavarella, Newgioco’s CEO and Chairman, stated that the firm is monitoring the impact of the virus on its product demand closely.
The CEO added that the firm’s priority is to protect employees, support their customers and also provide timely and accurate information stakeholders and investors. Along with the firm’s management team in Austria and Italy, they remain in close communication with national and close health authorities in order to impact prevention and notification procedures at the firm’s administration offices.