Betting technology supplier Newgioco has started trading on NASDAQ, the world’s second-largest stock exchange.
The Company’s common stock will continue to trade under the symbol “NWGID” until 13 January, when the symbol will change to “NWGI”.
“The listing of our common stock on the Nasdaq is a major milestone for the company and the result of approximately twenty years of dedicated business development in the regulated leisure betting industry,” Michele Ciavarella, Newgioco chief executive officer, said.
“We believe that listing on the Nasdaq should broaden our shareholder base by attracting new investors, enhance Newgioco’s visibility in the marketplace and liquidity of our stock, and ultimately, build long-term shareholder value.
Newgioco’s shares opened at a price of $4.15 per share on December 27, its first day of trading. The shares closed on 7 January at a price of $3.85 per share.
On 14 January, Newgioco will ring the opening bell that signals the start of trading on the exchange.
We are incredibly grateful to have been invited by Nasdaq to participate in this iconic event ushering in a new era for Newgioco,” Ciavarella said.
“The historic bell ringing celebration comes on the heels of notable developments in the rapidly growing regulated US sports betting market and allows us to showcase our brand on a global stage as one of the first end-to-end, fully integrated sports betting operators based in the US.
“I am very proud to share this honor with our entire dedicated team from around the world, and our committed shareholders and guests that have supported the company to reach this accomplishment, and look forward to continuing to provide cost-effective, leading-edge sports betting solutions to our loyal customers for many years ahead.”
In November, the supplier announced that significant declines in web-based turnover led to revenue of $6.7m in the third quarter of 2019, a 14.7% decline.