NEW YORK, NY / ACCESSWIRE / February 18, 2020 / Newgioco Group, Inc. ("Newgioco" or the "Company") (NASDAQ:NWGI), a global sports betting and interactive gaming technology company providing fully integrated, omni-channel sports betting software solutions, is pleased to announce the formation of Newgioco Columbia SAS. The office and management team situated in Bogota, Columbia has been established to service the Company's expanding operations in Central and South America.
The opening of Newgioco Columbia coincides with the signing of several new distribution agreements in South America, establishing new partnerships with the goal of positioning the Company for new regulatory guidelines in South America and new gaming laws such as those being developing in Brazil. The recent contracts for the Company's virtual sports product are expected to fit ideally with the Company's recently announced collaboration with HBG Group for distribution of the Company's VG virtual games in Central America. Further, in connection with these and other contracts, the Company is now in the process of hiring regional experts to execute our Latam business plan and drive growth of our virtual sports product while positioning our sportsbook technology as regulations evolve in each country.
Through our fully integrated corporate structure, Newgioco seeks to leverage the talent of the Company's Odissea software development team to produce new, market-leading virtual games and product technology. The intended result is a sound, economically predictable virtual product that could potentially level out the risk profile of the sports bet vertical for our distributed retail and online partners and be suitable for casino sportsbook operators.
"The improved performance metrics of our latest generation virtual sports products have been developed to address an important value proposition for the sports betting business of casinos and private operators," stated Michele (Mike) Ciavarella, Newgioco Chief Executive Officer. "We believe that this essential differentiator could result in the rapid adoption and global growth of our virtual sports products while expanding the deployment of our ELYS sportsbook technology in the U.S. and global sports betting markets."
About Newgioco Group, Inc.
Newgioco Group, Inc., is a global leisure gaming technology company, with fully licensed online and land-based gaming operations and innovative betting technology platforms that provide bet processing for casinos and other gaming operators. The Company conducts its business under the registered brand Newgioco primarily through its internet-based betting distribution network on its website, www.newgioco.it as well as in retail neighborhood betting shops throughout Italy.
Newgioco offers clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games and slots. Newgioco also owns and operates innovative betting platform software providing both B2B and B2C bet processing for casinos, sports betting and other online and land-based gaming operators. Additional information is available on our corporate website at www.newgiocogroup.com.
Investors may also find us on Facebook® and follow us on Twitter @NWGI_gaming.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and includes statements regarding our hiring regional experts to execute our Latam business plan and drive growth of our virtual sports product while positioning our sportsbook technology as regulations evolve in each country, recent contracts for the Company's virtual sports product fitting ideally with the Company's recently announced collaboration with HBG Group, leveraging the talent of the Company's Odissea software development team to produce new, market leading virtual games and product technology, developing our virtual product resulting in a sound, economically predictable virtual product that could potentially level out the risk profile of the sports bet vertical for our distributed retail and online partners and be suitable for casino sportsbook operators, improved performance metrics of the Company's latest generation virtual sports products addressing an important value proposition for the sports betting business of casinos and private operators, and this differentiator resulting in the rapid adoption and global growth of the Company's virtual sports products while expanding the deployment of its ELYS sportsbook technology in the U.S. and global sports betting markets. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include our ability to hire regional experts to execute our Latam business plan and drive growth of our virtual sports product while positioning our sportsbook technology as regulations evolve in each country, our ability to coordinate our recent contracts for our virtual sports product with our collaboration with HBG Group, our ability to design and produce new, market leading virtual games and product technology, our ability to develop a sound, economically predictable virtual product that can potentially level out the risk profile of the sports bet vertical for our distributed retail and online partners and be suitable for casino sportsbook operators, our ability to address an important value proposition for the sports betting business of casinos and private operators with the improved performance metrics of our latest generation virtual sports products, our ability to use the improved performance metrics to generate the rapid adoption and global growth of our virtual sports products while expanding the deployment of our ELYS sportsbook technology in the U.S. and global sports betting markets, and the risk factors described in Newgioco's Annual Report on Form 10-K for the year ended December 31, 2018 and our subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
For further information, please contact:
Newgioco Group, Inc.
Michele Ciavarella, Chief Executive Officer
investor@newgiocogroup.com
SOURCE: Newgioco Group, Inc.
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