Will contribute largely sports betting revenues
Empire Global Corp., through its subsidiary Multigioco Srl., said it had contracted up to 180 additional online Web-shop gaming arcades situated throughout the highest grossing gaming regions in Italy.
The new locations generate largely sports betting revenue and comprise around 2000 online gaming accounts expanding the company's online footprint to over 1000 web-shop locations and 25000 gaming accounts.
Multigioco Srl. expects revenue to increase to approximately Euro 100 million with improved margins.
The locations will be integrated under Multigioco's online license and flagged with its originalbet.it branding by the end of next month.
"The acquisition of these prominent locations is a major stepping stone in our strategy for the 2016 license tender in Italy and is a great result for expanding the New Gioco and Multigioco brand in the market," commented company president, Alessandro Marcelli.
"We are absolutely delighted with this considerable accomplishment by our management team," added Michele Ciavarella, chief executive officer of the Company. "The transaction brings us closer to our goal of meeting the criteria for an exchange listing in the near future."
Online Casino News Courtesy of Infopowa