- On 13 January 2020
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By Owain Flanders
After a long process beginning in early 2018, Newgioco’s common stock began trading on the Nasdaq Capital Market with the opening of trading on 27 December.
Newgioco CEO Michele Ciavarella will ring the opening bell of the Nasdaq Stock Market on Tuesday 14 January and, speaking with Gambling Insider, he explained why the listing was such an important target.
He said: “It is not so much what the Nasdaq listing can do but rather what the Over-The-Counter (OTC) market could not do – that’s the important factor for our shareholders.
“Brokers, representatives, agents and financial planners have a very difficult time persuading folks to invest in OTC companies.
“The Nasdaq has changed that whole element. To be on such a global exchange puts the company in a different classification of reporting.
“Basically, that changes the dynamic of how investors look at Newgioco as a potential investment opportunity.”
Although Newgioco was a fully reporting company prior to the listing, Ciavarella believes the improved transparency will be beneficial in more ways than one.
He said: “Now, in Nasdaq compliance, we have a higher level of verifying transactions, which is extremely beneficial in this industry.
“Being a fully transparent company is important when we are meeting with some of the larger institutional commercial casino operators and also the regulators, particularly in regards to the US market which is opening up for us.”