Italy is one of the countries in Europe that is showing signs of being hit hard by the pandemic. With more and more people getting infected by the virus, the government has announced stay-at-home orders and urged that social distancing be followed. Such a mandate will have a rather huge effect on many of the businesses in the country and this includes betting agencies as well as gambling and entertainment outlets.
Newgioco, one of the sports betting agencies in Rome, is one such company that is sure to see an impact from the country’s lockdown orders. While many of its betting shops all across the country may be closed for business, CEO Michele Ciavarella sees this as a way for the market to actually move forward.
When asked about what changes have affected the company, Ciavarella was quick to point out a few things that truly had an impact on their business. Aside from shop closures, they’ve also seen the cancellation and postponement of sporting events all across Europe. Since they need sports for people to bet on, this plays heavily on their business model.
Even while this can easily mean losses for the company, Ciavarella was also optimistic that they will be able to capitalize on the closure. This with their offerings of online gambling options such as poker, casinos, and even virtual sports tournaments. With people stuck at home, the need for entertainment is at an all-time high and what better way to provide this to them than via mobile and online options.
Newgioco, as with other gambling entities that will be hard hit by this pandemic, is doing a shift from land-based to online options. Due to the strict lockdown measures, people who are forced to stay at home will be turning to alternative forms of gaming and gambling. This is where mobile and desktop casinos as well as betting outlets come in. This is also where such companies will be able to bounce back from the closures of their physical outlets.