GEO - GEO Group stock gains after unit gets contract for immigration home arrest pilot

Shares in GEO Group (NYSE:GEO) rise 1.2% in premarket trading after the U.S. Department of Homeland Security Services told Reuters that GEO's BI Incorporated subsidiary will run test a house arrest program. The company will run the "home curfew" pilot program that will place hundreds of migrants caught crossing the U.S.-Mexico border under house arrest rather than a detention center. Those enrolled in the program would be confined to their place of residence in the U.S. for 12 hours a day and monitored electronically while they wait for their court hearings, Reuters said. Last week, Reuters and other media outlets reported on a 120-day pilot program to start in Houston and Baltimore, with 100-200 single adults enrolled at each location. The pilot will cost $6-$8 per day per enrollee, less than the $142 daily cost of immigration detention. Early in his administration, President Joe Biden signed an executive order phasing out

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GEO Group stock gains after unit gets contract for immigration home arrest pilot