How to Play PASPA from Canada

Online Gaming Update — UNITED STATES

Until recently, the Interstate Wire Act of 1961, combined with the Professional and Amateur Sport Protection Act (PASPA) of 1992, prohibited sports betting in the U.S. in all but four grand- fathered states (Montana, Oregon, Nevada, Delaware). Despite its illegal status, sports betting has been a thriving underground busi- ness, with the American Gaming Association (AGA) estimating that in 2015, $149B was wagered illegally on U.S. sports – the 2016 Super Bowl 50 alone attracted $4.1B in illegal wagers, with only ~$100M placed legally.

In mid-May 2018, the U.S. Supreme Court overturned PASPA in a decision that found PASPA unconstitutional in a 7-2 decision. What this means is it will be up to individual states to decide whether to allow its residents to bet on sports. Many are expected to move quickly to establish sports betting as a means to increase their respective coffers. We have since seen a number of states pass legislation to allow online gambling. We believe the U.S. market will take 3-5 years to fully develop.

Online Gaming Update — CANADA

The legality of online betting in Canada is currently a grey area. Provincial govern- ments have a monopoly on gambling services, and civilians aren’t permitted to offer or use private gambling services. At present, the Canadian Criminal Code explicitly pro- hibits Canadian civilians from marketing or offering betting services to other Canadians. Provincial governments are permitted to offer a variety of gambling services, includ- ing parlay betting on sports. In practice, the vague nature of Canadian gambling laws and the limited sports betting options offered by provincial governments have resulted in extensive online sports betting activity. It’s estimated that Canadians bet over $2B with offshore bookmakers every year.

Brian Masse, NDP MP of Windsor West, tabled Bill C-221 in 2016 to repeal paragraph 207(4)(b) of the Criminal Code to make it law- ful for the government of a province, or a person or entity licensed by the Lieutenant Governor in Council of that province, to conduct and manage a lottery scheme in the province that involves betting on a race or fight or on a single sport event or athletic contest. Bill C-221 was defeated on September 21, 2016; 156 “nay” votes to 133 “yay” votes. We expect a revisit or a new Bill to be tabled in due course in light of the recent SCOTUS ruling on PASPA.

How to Play PASPA from Canada

We believe the best way to play PASPA from Canada is through the Stars Group (TSG- US, Buy, US$43 PT) and Newgioco Group (NWGI-US, Spec Buy, US$1.80 PT).

Sportsbook represents 50% of the global online gambling market. The Stars Group officially rolled out its sportsbook product, BetStars, in a limited capacity in December 2015 in anticipation of the Euro 2016 soccer competition. The sports betting product will launch within the PokerStars poker client in certain markets, and PokerStars will gradually add more markets as well as web and mobile versions over time. We think the CrownBet, William Hill Australia and SkyBet acquisitions are a meaningful expansion in this verti- cal, with focus now on integration and growth in their respective markets.

TSGI reported Q218 revenue of $412M (EWP: $385M) (Cons: $381M), Adj. EBITDA of $168M (EWP: $156M) (Cons: $152M), and Adj. EPS of $0.60 (EWP: $0.56) (Cons: $0.54). Its newly segmented International and Australia divisions contributed $350M and $61M, respectively, to revenue. Organic growth in the Q was 15%. Consolidated Poker, Casino and Sportsbook revenues in the quar- ter were $217M, $102M, and $81M, respec- tively. International and Australia quarterly real-money active uniques (QAUs) were down 5.2%. 2018 guidance was updated including the recent CrownBet, WMH Australia and SkyBet acquisitions with 2018 revenue between $1,995-2,145M (prev. $1,390-1,470M), Adj. EBITDA between $755-810M (prev. $625- 650M), and Adj. EPS between $1.99-2.22 (prev. $2.33-2.47). International net deposits were $322M in the quarter, an increase of 19.3% y/y. If the three sportsbook acquisitions were considered from the beginning of 2017, the revenue mix by product would have been: Poker (37%), Sportsbook (34%), and Casino (26%), with 75% of 2017 revenues from locally regulated or taxed markets.

TSGI is strategically evaluating opportuni- ties to partner with various gaming opera- tors and media companies in New Jersey (extended existing poker/casino partnership with Resorts Casino to launch an online and mobile sportsbook in the near future) and Pennsylvania (announced a partnership with Mount Airy Casino Resort to offer betting and gaming products subject to regulatory approval). As the US market evolves, TSGI will seek to secure leading market positions by combining its expertise and brand aware- ness with strategic focus on: (1) selectively partnering with land based gaming operators and/or lotteries in key U.S. states; (2) providing a multi-vertical offering of poker, casino and betting; and (3) following CMA approval of the SkyBet acquisition, TSGI intends to export to the U.S. SkyBet’s deep expertise with respect to the integration of media and sports.

Newgioco engages in the operation of licensed gaming, providing retail web-based and land-based gaming services in Italy. The Company offers online casino, sports betting, virtual sports betting, horse racing, and physical slots. The Company was founded on August 26, 1998, and is headquartered in Toronto, Canada, with wholly owned subsidiaries in Italy and Austria. Subsidiaries include: Multigioco Srl (acquired on August 15, 2014), Rifa Srl (acquired on January 1, 2015), as well as Ulisse Gmbh and Odissea Betriebsinformatik Beratung Gmbh (both acquired on July 1, 2016).

NWGI had a strong Q218 which included 15 days of the 2018 World Cup – Q218 rev- enue was $8.8M, with adj. EBITDA of $1.1M (excl. the non-cash derivative liability related to the convertible debenture and share price volatility through Q218). Non-GAAP betting turnover in Q218 was $100M (+101.6% y/y), and $190.6M (+86.3% y/y) for the H118.NWGI is on track to exceed its 2018 pro- jected turnover target of ~$300M. NWGI has obtained final SOGEI certification just in time for the start of the 2018/2019 Italian soccer season. Odissea is now independently connected to the regulator and completely free from third party processing.

Several reasons why we like Newgioco are:

(1) NWGI currently has the 20th largest share of the Italian online market – a tremendous opportunity exists in rolling up smaller opera- tors beneath it while staying under the radar of the larger players. (2) With over 150,000 events per season and more than 90,000 events in Live mode, Newgioco has a highly competi- tive game offering for bets and sporting events through its Odissea platform. (3) Newgioco’s management team has a combined 100+ years’ experience in gaming and technology devel- opment. An extensive network in the Italian marketplace among operators and government regulators should be beneficial as Newgioco expands in the region and seeks opportunities abroad. (4) Newgioco launched the first phase of its Artificial Intelligence (AI) technology on its ELYS Odissea gaming platform with the release of CHATBOT – CHATBOT is an AI betting technology using customized pat- tern recognition and machine-learning algo- rithms to determine the relevant features of customer interactions and to develop a com- prehensive customer betting profile. (5) We expect Newgioco to start showing business-to- business (B2B) revenue on white-labelling its platform by the end of this year, and use it as a vehicle for international expansion – including the US sports betting market.

Is an amendment to the Federal WIre act oF 1961 next?

Despite the PASPA ruling, it would still be illegal to bet across state lines – even if the respective states in question have legalized online sports- betting. Evidence has shown that a high number of gaming and gambling companies have used blockchain technology to raise money and fund startups. In total, more than $4B has been raised via ICOs, according to Autonomous NEXT. Business Insider reported a $500M ICO to build a floating cryptocurrency casino in Macau. Gambling with cryptocurrencies – as opposed to fiat money – can currently be conducted without the need to provide identification docu- ments, or in some cases, without the need to create an account. Demand for anonymous gambling is evident in the relatively high use of pre-paid cards – such as the paysafecard– on gambling websites, and in consumer behaviour surveys. What about setting up a blockchain platform, to allow sports betting across state lines via smart contracts between the bettor, operator and respective states involved where betting is legal and taxes are collected. We note that both Stars Group and Newgioco have blockchain and AI capabilities already in place.

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Newgioco Recognized by CIOReview Magazine as ”20 Most Promising Technology Solutions Providers for Casinos in 2018”

Newgioco Recognized by CIOReview Magazine as ”20 Most Promising Technology Solutions Providers for Casinos in 2018” | 10/31/2018

NEW YORK, NY / ACCESSWIRE / October 31, 2018 / Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a sports betting and gaming technology company providing regulated online and land-based gaming and wagering through licensed subsidiaries in Italy and Austria, and headquartered in Toronto, Canada, has been recognized among an elite group of companies featured in the Casino Special Edition of the CIOReview magazine.

Newgioco is also featured in the cover story of the Casino Special Edition, titled “Newgioco Group – The Next Big Thing in Online Gambling” in which Michele Ciavarella, CEO and director of Newgioco, discusses the vast opportunities the U.S. sports betting market is now experiencing with the recent repeal of the Professional and Amateur Sports Protection Act (PASPA) in May 2018. In the feature article, Mr. Ciavarella details Newgioco’s U.S. strategy of combining its longstanding track record of success within Italy’s highly regulated gaming market and introducing its convenient and customizable sports betting technology platforms to a select partner network of U.S. land-based licensed gaming operators.

“We are honored to be recognized by CIO Review. This award is further positive validation of the direction our Company is taking, as we look to grow from being one of Italy’s top gaming technology providers and to establishing our product in the U.S. sports betting market”, stated Michele Ciavarella, CEO of Newgioco.

To view the full feature articleNewgioco – The Next Big Thing in Online Gambling”, visit:

https://casino.cioreview.com/vendor/2018/newgioco_group

To view the full online magazine “CIOReview – Casino Special Edition (Oct 2018)”, visit:

https://magazine.cioreview.com/magazines/October2018/Casinos/ – page=10

  • – Newgioco Feature Cover Story (pages 1, 10-13)
  • – 20 Most Promising Technology Solutions Providers for Casinos in 2018 (pages 4-15)

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly-owned subsidiaries, is a fully licensed and integrated online and land-based leisure gaming operator. 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 retail neighborhood betting shops situated throughout Italy.

The Company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games and slots, as well as owning and operating an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. Additional information is available on our corporate website at www.newgiocogroup.com.

Cautionary Note Concerning Forward-Looking Information

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. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, 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.

For further information, please contact:

investor@newgiocogroup.com
Bill Mitoulas
Investor Relations
bill.m@newgiocogroup.com
Office: +1 (416) 479-9547

SOURCE: Newgioco

Newgioco Group Provides Corporate Update

Newgioco Group Provides Corporate Update | 10/29/2018

NEW YORK, NY / ACCESSWIRE / October 29, 2018 / Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a company providing regulated online and land-based gaming and wagering through licensed subsidiaries in Italy and Austria, and headquartered in Toronto, Canada, is pleased to provide a detailed update on recent corporate initiatives and growth activities.

2018 Global Gaming Expo (“G2E”):

Newgioco attended the 2018 G2E held in Las Vegas, Nevada from October 8-11, 2018. At G2E, the Company demonstrated the newest release of its sports betting platform, ELYS, which is a one-stop sports betting solution for betting retailers. ELYS provides a fully automated and managed sports book, with an increased number of markets offered (both Pre-match and Live “in-game” betting), real-time risk monitor with risk acceptance and bet monitoring tools, virtual sports betting, multi-channel payment methods and integration with multiple casinos and slot content providers. Management believes that the launch of its complementary mobile betting application dedicated to improving the sport-bet user experience further establishes Newgioco as one of the top technology providers for business-to-business (“B2B”) and business-to-consumer (“B2C”) sports betting, gaming and casino operators.

Newgioco Group Initiates Plan to Enter U.S. Sports Betting Market:

With the repeal of the Professional and Amateur Sports Protection Act (PASPA) in May 2018, Newgioco recently announced its intention to enter the U.S. sports betting market. Newgioco aims to enter the U.S. gaming industry by combining its longstanding track record of success within Italy’s highly regulated gaming market and introducing its convenient and customizable sports betting technology platforms to a select partner network of U.S. land-based licensed gaming operators.

“In preparation for the execution of our U.S. expansion plans, the Company has also started coding for (GLI-33) certification to launch U.S. operations in the near future. Newgioco is confident that its proven, powerful and efficient betting engine will resonate with casino operators in the U.S. when compared against platforms and products being offered by certain established competitors and early movers in the developing market. In our core Italian market and internationally, including in the U.S., we intend to launch the most advanced online betting technology with the latest in website coding fully integrated into our ELYS betting platform, featuring seamless gaming account and transaction processing for B2B operators. We expect to be an early mover with this innovative new technology,” commented CEO of Newgioco, Michele Ciavarella.

Strong Organic Growth and Consolidation Opportunities in Italy:

Newgioco has the 20th largest share of the Italian online betting market (up from 30th three quarters ago), and currently reaches approximately 86,000 online user accounts, 1,000 web cafes, and 180 land-based gaming locations via three core distribution channels – Sporting Stores (agencies or arcades), Sporting Points (“corners”), and Virtual Reload Points (“shop”, “web cafes” or “websites”), and is on track to exceed its 2018 projected turnover target of $300 million. The Company continues to focus on organic growth by improving its product, service and highly competitive game offerings within its Italian operating territories (offering more than 150,000 events per season and 90,000 events in Live mode), while exploring potential acquisition opportunities related to smaller Italian sports betting companies.

Continued Financial Strength & Performance:

On August 20, 2018, Newgioco announced its 2018 second quarter results. The report filed for the period ended June 30, 2018 reflects major highlights that included:

  • Newgioco’s fifth consecutive quarterly operating profits;
  • Outstanding triple-digit group performance of almost 190% growth in operating income;
  • Strong cash reserves at $6.8 million on June 30, 2018;
  • GAAP revenue for the first half of 2018 increased 118.54% year over year to $17.4 million;
  • Non-GAAP transactional sales of betting turnover for the first half of 2018 increased 86.33% to $190.6 million due to robust 2018 World Cup wagering;
  • Strong growth in assets to $22.7 million strengthens the balance sheet;
  • Substantial design and development work on a pipeline of new, innovative technologies; and
  • Technological readiness for expanding into the U.S. sports betting market.

“Newgioco’s operating results and product achievements are a testament of our team’s ability to focus and execute on a strategy to solidify Newgioco’s betting platform as a market leader in AI technology and operator-centered gaming architecture. Keeping with the hallmark of our business development philosophy, Newgioco is taking a sustainable and diligent approach to the quickly developing U.S. sports betting market. As such, we have gained valuable regulatory and deployment visibility for our U.S. business blueprint and remain focused on being an early mover with this exciting opportunity ahead,” remarked Michele Ciavarella, CEO of Newgioco.

For the press release related to the Company’s 2018 second-quarter results, visit:

https://www.otcmarkets.com/stock/NWGI/news/Newgioco-Group-Announces-2018-Second-Quarter-Results?id=201443

Newgioco Group Strengthens Management Team:

During the third quarter of 2018, the Company announced several key additions to its leadership and management team as it prepares to initiate its U.S. expansion strategy and to list its shares on the NASDAQ stock exchange. New management appointments include the following:

Alessandro Marcelli was promoted to Chief Operating Officer; Alessandro has been instrumental in overseeing Newgioco’s growth in Europe and will continue to provide direction on the Company’s international operational initiatives.

Elizabeth J. MacLean, Vice President Finance and Accounting; Elizabeth is the former Global Lead for Financial Systems and Processes at Progressive Gaming International and held a number of senior positions at Honeywell International (HON-US) including; Global Implementation Leader for Honeywell Process Solutions; Director, Digital Works and Director, Business Development for Honeywell eVentures.

Ralph M. Garcea, Vice President Corporate and Business Development; Ralph was a top-ranked analyst and has held senior executive positions at major domestic and international banks and brokerage firms. He previously covered gaming industry names such as The Stars Group (TSG-US), NYX Gaming (SGMS-US), Jackpotjoy (JPJ-LSE), Innova Gaming and Pollard Banknote (PBL-T).

James Cardwell, Interim Chief Financial Officer; specialist in both SEC financial reporting and tax compliance and has served as interim CFO of VerifyMe, Inc. (VRME), CFO of S2BN Entertainment, Inc. and Sibling Entertainment, Inc.

Bill Mitoulas, Vice President of Communications and Investor Relations; Bill is the principal of Venture North Capital Inc., providing corporate finance and capital markets advisory services to publicly listed and private companies since 2011.

Michele Ciavarella, CEO of Newgioco, commented, “The collective strength and experience of the Newgioco management team and board of directors has greatly improved with these additions. Each of the new appointees brings years of experience and skill sets which will be instrumental to the Company’s success as it looks to enter into the U.S. sports betting market. I am excited about executing our growth strategy, and welcome our new team members to the Newgioco family.”

For the press release related to the appointment of new management members, visit:

https://www.otcmarkets.com/stock/NWGI/news/Newgioco-Group-Strengthens-Management-Team-as-it-Continues-Its-Plan-to-Enter-US-Sports-Betting-Market?id=204090

Newgioco Appoints New Board of Directors:

Effective July 23, 2018 Newgioco announced the appointment of three new independent board members, Russel McMeekin, Harold Wolkin and William Rutsey. Each of the new directors brings a wealth of global experience across a variety of different industry groups along with extensive experience in gaming operations and strategy.

Brief biographical information of each newly appointed director is set forth below. For more detailed biographical information, please see the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 27, 2018.

Mr. McMeekin is the former President, CEO and board member of Progressive Gaming International Inc. In addition, he is a former board member of the American Gaming Association and the Canadian Gaming Association. Mr. McMeekin currently serves as CEO, President, and co-founder of Universal mCloud Inc (MCLD-T).

Mr. Wolkin is the former EVP, Head of Investment Banking at Dundee Capital Markets. In addition, he previously served as Managing Director, Diversified Industries, Investment and Corporate Banking of BMO Capital Markets (“BMO”) and VP and Director, Equity Research Analyst of BMO and BMO Financial Group. Mr. Wolkin currently serves on numerous boards and committees, including Baylin Technologies (BYL-T), Cipher Pharmaceuticals (CPH-T), and Diamond Estates Wine & Spirits (DWS-T).

Mr. Rutsey is the former CEO of the Canadian Gaming Association, former CEO of RPC Gaming Inc. and former CEO of Multigames International Inc. He is the recipient of the Canadian Gaming Industry Leadership and Outstanding Contribution Award.

”I am thrilled to have Russel, Harold and William enthusiastically embrace the opportunity to have significant roles in building the early foundations of Newgioco. The appointments deepen not only our corporate bench but also our business playbook as we set out to become a world leader in leisure betting. We believe that the extraordinary qualifications of the new directors is a major transformation for Newgioco which is now positioned to enter the rapidly developing U.S. sports wagering market on the back of the recent U.S. Supreme Court ruling,” remarked Michele Ciavarella, CEO of Newgioco.

For the press release related to the appointment of the new directors, visit:

https://www.otcmarkets.com/stock/NWGI/news/Newgioco-Group-Announces-Proven-Expertise-with-New-Independent-Board-Members?id=199510

Newgioco Group Closes Over-Subscribed Private Placement of Debentures:

On June 4, 2018 Newgioco announced the over-subscribed closing of its private placement of convertible debentures. To accommodate investor demand, the Company increased the size of the initial debenture offering from $1.5 million to $7.5 million. Together with the first two financing rounds completed in February and April 2018, the private placement of debentures, which are convertible into shares of the Company’s common stock at a fixed price of $0.40 per share, resulted in aggregate gross proceeds of approximately $8 million consisting of approximately $7 million in cash and approximately $1 million in conversions from debentures issued in 2017. The Company has paid off high-interest debt and intends to use the proceeds from the private placement for acquisitions, business development in the U.S. and Canadian market and for general working capital purposes.

“We are very pleased with the confidence that all our new investors, many of which are institutional, have placed in Newgioco’s management team allowing us to close on an amount significantly greater than our initial objective,” stated Michele Ciavarella, CEO of Newgioco. “The additional proceeds will be used to initiate our international and U.S. expansion plans through immediately available acquisition opportunities and to advance our objective of potentially listing the Company’s shares on a national stock exchange. We believe both of these initiatives will extract shareholder value and result in strong growth and operational performance.”

For the press release related to the private placement, visit:

https://www.otcmarkets.com/stock/NWGI/news/Newgioco-Group-Closes-Over-Subscribed-Private-Placement-of-Debentures?id=194478

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly-owned subsidiaries, is a fully licensed and integrated online and land-based leisure gaming operator. 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 retail neighborhood betting shops situated throughout Italy.

The Company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games, and slots, as well as owning and operating an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. Additional information is available on our corporate website at www.newgiocogroup.com.

Cautionary Note Concerning Forward-Looking Information

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. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, 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.

For further information, please contact:

investor@newgiocogroup.com

Bill Mitoulas
Investor Relations
bill.m@newgiocogroup.com
Office: +1 (416) 479-9547

SOURCE: Newgioco Group, Inc.

Newgioco Group Strengthens Management Team as it Continues Its Plan to Enter U.S. Sports Betting Market

OTC DISCLOSURE & NEWS SERVICE
Newgioco Group Strengthens Management Team as it Continues Its Plan to Enter U.S. Sports Betting Market | 09/18/2018

NEW YORK, NY / ACCESSWIRE / September 18, 2018 / Newgioco Group, Inc. (OTCQB: NWGI) (“NWGI” or the “Company”), a betting technology company providing regulated sports betting and leisure gaming products and services through licensed subsidiaries in Europe, is pleased to announce several key additions to its leadership and management team as it prepares to initiate its U.S. expansion strategy and to list its shares on the NASDAQ stock exchange.

Michele Ciavarella, CEO of Newgioco Group Inc. commented, “The collective strength and experience of the Newgioco management team and board of directors has greatly been improved with these additions. Each of the new appointees bring years of experience and skillsets which will be instrumental to the Company’s success as it looks to establish entry into the US sports betting market. I am absolutely delighted where Newgioco finds itself today, excited on executing on our growth strategy, and sincerely welcome our new team members to the Newgioco family.”

New Management Appointments:

Elizabeth J. MacLean, Vice President Finance and Accounting

Ms. MacLean has more than 20 years experience leading Finance teams in a variety of industries in both the United States and the United Kingdom. Notably, Elizabeth was the Global Lead for Financial Systems and Processes at Progressive Gaming International and brings her knowledge of Finance, Financial Systems, Analytics, and Process Improvement to Newgioco. She will be based in Phoenix, Arizona, and represents Newgioco’s first U.S.-based employee. Ms. MacLean holds a B.A. in Biology from the University of Chicago, and an MBA from Graduate School of Business at Stanford University with specialities in Statistics and Game Theory.

Ralph M. Garcea,Vice President Corporate and Business Development

Mr. Garcea brings more than 22 years experience in senior analyst positions at major domestic and international banks and brokerage firms. He is a top-ranked research analyst, well regarded for the depth and breadth of knowledge he brings to bear on his coverage of Canadian technology, gaming and industrial companies across a broad range of market capitalizations. Over the years, he has received top three rankings from Brendan Woods, Greenwich, Starmine and Thomson Reuters surveys. His previous coverage of the Stars Group (TSG-US), NYX Gaming (SGMS-US), Jackpotjoy (JPJ-LSE), Innova Gaming and Pollard Banknote (PBL-T), will be an invaluable asset working with management and the board in executing our global expansion strategy, with a focus on Italy and the U.S. sports betting markets. Mr. Garcea holds a Bachelor’s degree (Honours) in Engineering Science (Aerospace) from the University of Toronto and an M.B.A. (Honours) from the Schulich School of Business at York University.

Jay Cardwell, Interim Chief Financial Officer

Mr. Cardwell has over 30 years of C-Suite experience, specializing in both SEC financial reporting and tax compliance, financial reporting, mergers and acquisitions, international accounting and corporate development for organizations ranging from early stage projects to large multi-tiered international entities. Mr. Cardwell has been CPA licensed in the State of New York since 1986 and a graduate of Illinois State University in Accounting, Alumni Honoree.

Bill Mitoulas, Vice President of Communications and Investor Relations

Mr. Mitoulas brings 20 years of experience in financial product sales, marketing and investor relations. He has been the Principal of Venture North Capital Inc. since July 2011, a company providing corporate finance and capital markets consulting services to publicly listed companies. Mr. Mitoulas holds a Bachelor of Business Administration majoring in Finance from the University of Notre Dame.

Promotion to New Role:

Alessandro Marcelli, Chief Operating Officer

In addition to the aforementioned appointments, the Company has promoted Alessandro Marcelli to the role of Chief Operating Officer. Mr. Marcelli’s leadership as President has been exemplary and his contributions to the Company have been entirely essential to Newgioco’s growth in Europe to date. His extensive experience in the sports betting and leisure gaming industry will provide valuable insight as we continue to drive growth and execute on our international operational strategy.”

Newgioco further announces that, in conjunction with Mr. Marcelli’s appointment as COO, the Company is now considering the ideal candidate for the position of President to spearhead the next phase of its global growth initiatives.

Annual Meeting of Shareholders Results Update:

Newgioco Group is pleased to announce voting results for proposals presented at the Company’s Annual Meeting of Shareholders held on September 12, 2018 (the “Meeting”). Shareholders holding 53,099,337 shares representing over 72% of issued and outstanding common shares voted in person or by proxy at the meeting. The voting results included:

  • The election of Harold Wolkin, Bill Rutsey, Russ McMeekin, Luca Pasquini and Michele Ciavarella to serve as Directors of Newgioco Group, Inc.;
  • The approval of Pitagora Revisione Srl, Chartered Accountants as auditors of the Company for the fiscal year ending December 31, 2018;
  • The approval of the Company’s 2018 Equity Incentive Plan and the reservation of 9,200,000 shares of common stock for issuance thereunder;
  • The approval of the Amended and Restated Certificate of Incorporation;
  • To grant discretionary authority to the Company’s Board of Directors to effect one or more consolidations of the issued and outstanding shares of common stock within the range from 1-for-2 up to 1-for-20.

For additional detail regarding proposals presented at the Meeting please refer to the 2018 Notice of Annual Meeting, Information Circular and Proxy Statement filed with the Securities and Exchange Commission on August 22, 2018.

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its subsidiaries, is a fully integrated, licensed gaming technology company. The Company conducts its business primarily through retail neighborhood betting shops and internet-based betting software platform under the registered brand Newgioco through our licensed website www.newgioco.it situated in Italy.

The Company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, lottery, interactive games and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. 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.

Cautionary Statement Regarding Forward Looking Statements

Except for the historical information contained herein, this press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “forecast,” “plans,” “intends,” “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017, as amended by the Company’s Quarterly Report on Form 10-Q. One or more of these factors have affected, and in the future, could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. Therefore, because of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

Investor Relations Contact:

Bill Mitoulas
Communications and Investor Relations
Email: bill.m@newgiocogoup.com
Tel: 1.416.479.9547

Newgioco Group, Inc.
investor@newgiocogroup.com

SOURCE: Newgioco Group, Inc.

https://www.accesswire.com/512102/Newgioco-Group-Strengthens-Management-Team-as-it-Continues-Its-Plan-to-Enter-US-Sports-Betting-Market

Newgioco Group Initiates Plan to Enter U.S. Sports Bet Market

OTC DISCLOSURE & NEWS SERVICE
Newgioco Group Initiates Plan to Enter U.S. Sports Bet Market | 09/06/2018

NEW YORK, NY / ACCESSWIRE / September 6, 2018 / Newgioco Group, Inc. (OTCQB: NWGI) a betting technology company providing regulated sports betting and leisure gaming products and services through licensed subsidiaries in Europe, announces that the Company has began coding to obtain the latest standard of GLI (Gaming Labs International, LLC) certification of our ELYS betting platform in preparation to launch our U.S. sports betting business.

On September 3, 2018 the company switched-on new codes developed over the past year by our Odissea technology team led by senior MVP engineer Michael Denny. The pivotal software coding was successfully certified on a first test run by the Italian regulator Agenzia delle Dogane e dei Monopoli (ADM) and SOGEI and represents a critical connection that efficiently allows ELYS to communicate directly with government regulators. As a result, the Company breaks free from the reliance on a key third-party provider and can now communicate completely independently with any gaming regulator’s control software.

Proven in Italy, one of the most rigorous regulated gaming jurisdictions in the world, the Company’s innovative ELYS shop-client architecture built on the latest Microsoft .NET platform, is one of the newest and most cost-effective betting software in the industry. Given the fragmented, regional nature of the Italian market, ELYS is perfectly designed to suit the U.S. market by providing a powerful and highly customisable betting solution for independent casino operators and licensed gaming operators throughout each independent state and their unique gaming laws.

“We are extremely pleased with the rapid turnaround of this important new coding that puts ELYS well ahead of several larger competitors and further advancing our betting technology for the future. We now have commenced coding for GLI certification which is a key step in deployment of our U.S. operations,” stated Michele Ciavarella, Company CEO. “We are very focused on being an early mover in this huge market with the ability to leverage one of the most technologically advanced betting software and proven operational know how to support to our U.S. clients sports betting business success. Newgioco has undertaken a logical and practical U.S. licensing and certification plan and anticipates announcing further U.S. market developments in the near future.”

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its subsidiaries, is a fully integrated, licensed gaming technology company. The Company conducts its business primarily through retail neighborhood betting shops and internet-based betting software platform under the registered brand Newgioco through our licensed website www.newgioco.it situated in Italy.

The Company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, lottery, interactive games and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. 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.

Cautionary Statement Regarding Forward Looking Statements

Except for the historical information contained herein, this press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “forecast,” “plans,” “intends,” “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017, as amended by the Company’s Quarterly Report on Form 10-Q. One or more of these factors have affected, and in the future, could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. Therefore, because of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

Investor Relations Contact

Newgioco Group, Inc.
investor@newgiocogroup.com

SOURCE: Newgioco Group, Inc.

https://www.accesswire.com/511433/Newgioco-Group-Initiates-Plan-to-Enter-US-Sports-Bet-Market

 

Newgioco Group Announces Initial Research Coverage by Echelon Wealth Partners

OTC DISCLOSURE & NEWS SERVICE
Newgioco Group Announces Initial Research Coverage by Echelon Wealth PartnersPress Release | 08/23/2018

NEW YORK, NY / ACCESSWIRE / August 23, 2018 / Newgioco Group, Inc. (OTCQB: NWGI) a betting technology company providing regulated sports betting and leisure gaming products and services through licensed subsidiaries in Europe, is pleased to announce that Echelon Wealth Partners Inc. (“Echelon”) has initiated analyst coverage of Newgioco. Echelon represents the first investment dealer to initiate and publish coverage of Newgioco giving the Company a Speculative Buy rating on a deferred cashflow basis with a target price of $1.80.

The research report dated August 21, 2018 entitled “Newgioco Group Inc. Italians Love their Sportsbook; Interesting Roll-Up Opportunity with a Fully Loaded B2B/B2C Platform” was prepared and written by Ralph Garcea, Managing Director and Gianluca Tucci Equity Research Associate, Technology, Gaming and Diversified Industry analysts at Echelon, as an independent analysis of the Company’s activities and progress. In addition to meeting with senior management at the Company’s corporate head office in Toronto, Canada, the analysts conducted onsite due diligence at both the operational office in Rome, Italy and at the technology office in Innsbruck, Austria.

The Echelon report also noted among other details that “NWGI is currently trading, on our estimates, at a 2019E EV/Sales and EV/EBITDA of 0.7x/5.3x versus its Global Gaming comparables at 2.4x/8.4x, respectively.” Additional noteworthy opinions from a value-added perspective included: “Historically, NWGI’s payout ratio has been under 90%, meaning the house’s keep has been averaging north of 10%. In its Q2’18 filings, web-based turnover grew 100% y/y to $55.0M, with land-based turnover expanding 104% y/y to $45.0M. We like the near ~50/50 split between webbased and retail turnover, furthering our belief that retail operations are a key cultural bias in the Italian marketplace,” and further stated that “We believe the Italian online market is where the UK market was 10 years ago, and the real growth is ahead of us.”

Newgioco has published the Echelon report on the OTC Markets website which may be downloaded from the following link: https://backend.otcmarkets.com/otcapi/company/research/200573/content or obtained upon written request from either the Company or Echelon. For further information with respect to Echelon’s coverage, please contact Ralph Garcea, MBA, P.ENG, Managing Director, Technology, Gaming and Diversified Industries Analyst, Echelon Wealth Partners Inc. at (647) 794-1925 or 416-568-9063, or by writing to rgarcea@echelonpartners.com.

Please note that any opinions, estimates or forecasts regarding Newgioco’s performance made by an analyst are his or hers alone and do not represent the opinions, forecasts or estimates of Newgioco or its management. Newgioco does not, by reference to an analyst initiating coverage, imply its endorsement of or concurrence with such information, conclusions or recommendations. Investors are encouraged to read the entirety of the Echelon report including the identified risks and legal disclosures contained in the report.

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its subsidiaries, is a fully integrated, licensed gaming technology company. The Company conducts its business primarily through retail neighborhood betting shops and internet-based betting software platform under the registered brand Newgioco through our licensed website www.newgioco.it situated in Italy.

The Company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, lottery, interactive games and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. 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.

Cautionary Statement Regarding Forward Looking Statements

Except for the historical information contained herein, this press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “forecast,” “plans,” “intends,” “potential” and similar expressions. These statements reflect the Company’s current beliefs and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the fiscal year ended December 31, 2017, as amended by the Company’s Quarterly Report on Form 10-Q. One or more of these factors have affected, and in the future, could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. Therefore, because of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

Investor Relations Contact

Newgioco Group, Inc.
investor@newgiocogroup.com

Newgioco Group adds Experience and Independence to Board of Directors

Newgioco Group adds Experience and Independence to Board of Directors

New York, May 2, 2017.  Newgioco Group, Inc. (OTCQB:NWGI) a company providing regulated leisure gaming and wagering through licensed subsidiaries in Europe, announced today that it has appointed Kelly Ehler, Stefano Giorgi and Robert Stabile to serve as independent members of the Company’s board of directors.

Kelly Ehler is a Chartered Accountant and former auditor with PWC and banker with Bank of Montreal.  He currently sits on various corporate boards and board committees including additional roles as Audit Committee Chairman, assisting in audits, preparation and consolidation of financial statements for multi-currency and multijurisdictional public companies, drafting and review of legal agreements on acquisitions, shareholder agreements and mining related agreements.  Kelly brings extensive public company experience and knowledge in numerous capacities and positions including CEO, COO, VP and CFO.

Stefano Giorgi is a graduate of Communications Sciences from Viterbo, Italy and brings over 25 years of IT business experience holding various specialty competencies including Cloud based and BigData software architecture, customer development strategies with an in-depth knowledge of B2B responsibilities and Marketing Policy Definition.  He has also served as a regional sales director for a wide range of clients from large corporate entities (TIM, Lottomatica) to government agencies (Autostrade, Poste Italia).  Stefano is currently the CEO of an innovative Italian IT solutions development company, compiling vocational training and skills development programs based on .NET and JAVA technology.

Robert Stabile is a Chartered Financial Analyst, and currently the CFO of Beanfield Technologies Inc., a leading independent telecommunications company based in Toronto, Ontario.  Robert brings extensive and diversified financial analysis and modelling experience with him.  Robert was recently a Portfolio Manager of Mutual Funds and Private Client Accounts at LDIC Inc..  Prior to managing money, Robert was advising institutional investors as an Equity Research Analyst with CIBC World Markets, and then as an Equity Salesman and Partner at Paradigm Capital, a Canadian Investment Banking Firm.  Robert holds an Honours Business degree from Wilfrid Laurier University.

“We’re extremely pleased to welcome Kelly, Stefano and Rob to our Board of Directors which now consists of three inside and five independent directors,” stated Company Chairman and CEO, Michele Ciavarella.  “We are very confident that the strengthened composition of Company directors provides a depth of experience, leadership and good governance, to guide Newgioco through its future objectives.”

All three independent directors have been appointed under a casual vacancy and will put themselves forward for election at the next annual meeting of shareholders.

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly owned subsidiaries, is a fully licensed and integrated online and land-based leisure gaming operator.  The company conducts its business under the registered brand Newgioco primarily through its internet-based betting distribution network on our website www.newgioco.it as well as retail neighborhood betting shops situated throughout Italy.

The company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games and slots, as well as owning and operating an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing.  Additional information is available on our corporate website at www.newgiocogroup.com.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “forecast,” “plans,” “intends,” “potential” and similar expressions.  These statements reflect the company’s current beliefs and are based upon currently available information.  Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements.

Newgioco Group Reports 2017 First Quarter Results on Form 10-Q

Newgioco Group Reports 2017 First Quarter Results on Form 10-Q

New York, May 23, 2017 (Globenewswire).  Newgioco Group, Inc. (OTCQB:NWGI) a company providing regulated online and offline leisure gaming and wagering through licensed subsidiaries in Italy, announced today that it has filed its 2017 first quarter results with the U.S. Securities and Exchange Commission.

The Company reports an increase of approximately 88.8% in non-GAAP gaming turnover to $52.7 million for the first quarter of 2017, up from $27.9 million over the same period last year.  This significant increase resulted in GAAP revenue growth of 121.8% to $3.9 million in Q1-2017, compared to $1.8 million in the same period last year.

Additional report highlights from Q1-2017 include:

  • Cash grew sharply to $1.8 million, compared to $178,188 in Q1-2016;
  • Total Assets nearly doubled to approximately $7.1 million, compared to $3.6 million in Q1-2016.

The Company also invested heavily in brand awareness aimed at customer acquisition and retention through sign-up bonuses and promotions, as well as advertising and trade shows which had an impact on the significant organic growth of our bet turnover.  These business development expenses, combined with a higher than normal percentage of favorites winning their matches, a common theme that favored customers across the sports book market in Q1-2017, weakened earnings and contributed to an overall net loss of $842,166.  The reported loss also includes a provision for income taxes on profits earned from our betting platform operations, as well as interest, financing expense and non-cash items.

“While most sports books in our catalogue favored customers in the first quarter, on a year-over-year basis we are quite pleased with the lift in our top end sales” remarked company Chairman and CEO, Michele Ciavarella.  “Our strategic objectives in 2017 remain on track as we added board independence in Q1 and expect to secure Italian certification on our ELYS betting platform in Q2.  At that point, we expect to benefit from an increased pace in acquisition opportunities.”

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly owned subsidiaries, is a fully licensed and integrated online and land-based leisure gaming operator.  The company conducts its business under the registered brand Newgioco primarily through its internet-based betting distribution network on our website www.newgioco.it as well as retail neighborhood betting shops situated throughout Italy.

The company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, lotto, online casino, poker, bingo, interactive games and slots, as well as owning and operating an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing.  Additional information is available on our corporate website at www.newgiocogroup.com.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “forecast,” “plans,” “intends,” “potential” and similar expressions.  These statements reflect the company’s current beliefs and are based upon currently available information.  Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements.

Newgioco Group adds Management Depth

Newgioco Group adds Management Depth

New York, June 6, 2017 (Globenewswire).  Newgioco Group, Inc. (OTCQB:NWGI) a company providing regulated online and offline leisure gaming and wagering through licensed subsidiaries in Italy, announced today the hiring of key personnel to the company management and technical team.  All of the appointments are non-board positions.

Newgioco has strengthened its management team with the addition of Donal Carroll as Chief Financial Officer and Julia Lesnykh as VP Corporate Finance, both stationed in Toronto, Canada, as well as Carlo Reali as Financial Controller and Bryan Calderoni as in-house Graphic Designer, both stationed at gaming operations’ head office in Rome, Italy.

Donal Carroll has 20 years of corporate finance leadership and public company experience, as well as deep expertise in syndicate investing both in equity and debt securities.  With a balance of prudent financing practices and unique insights, Mr. Carroll has successfully guided companies for expansion and growth.  Throughout his tenure with Danaher (NYSE:DHR), Alberto Culver (NYSE:ACV) – now Unilever (NYSE:UL) and Cardinal Meats, Mr. Carroll was instrumental in major restructuring activities, mergers and acquisitions, and the implementations of new internal controls and ERP systems resulting in significant efficiencies through periods of substantial change and strong company growth.

Mr. Carroll holds a CPA-CMA designation as well as a Bachelor of Commerce degree from University College Dublin (UCD).

Julia Lesnykh has over 17 years of accounting experience providing accounting, tax and advisory services to various small and medium-sized companies.  Since February 2015, she has served Newgioco as a Group Financial Controller overseeing financial reporting.  During this time she has clearly demonstrated her leadership and accounting abilities, performing full-cycle accounting for the head office in Canada, reviewing and consolidating domestic and foreign subsidiaries’ financials and liaising with the company’s auditors and external consultants.  From 2012 – 2015, Ms. Lesnykh was a member of the Board of Directors of Friday Capital Inc. (currently HIT Technologies Inc. TSXV:HIT), participating in the preparation for and successful filing of an initial public offering.  She also served as a Member of the Audit Committee in 2014-2015, liaising with auditors and overseeing financial reporting on TSX Venture.

Ms. Lesnykh holds a Degree in Economics, an International MBA from the Schulich School of Business at York University (Canada) and a CIMA Advanced Diploma in Management Accounting (UK).

Carlo Reali brings over 25 years of financial management experience in the retail gaming business, having worked his entire career with one of the largest gaming companies in Italy.  He has extensive knowledge of pricing models and accounting processes in all gaming product verticals.  Mr. Reali brings a strong cash management skill set to this new role, and will work closely with our CFO, VP Finance and auditing firm to prepare and support our financial reporting efficiency.  The hiring of an internal financial controller at our operation level is a part of the company’s mandate to implement corporate-wide standard operating procedures aimed at streamlining our financial reporting procedures going forward.

Bryan Calderoni is responsible for developing and maintaining our Newgioco brand standards while designing print and online materials, including promotional email layouts, videos, infographics, flyers, stacking diagrams, maps and websites, etc.  In addition, Mr. Calderoni is an expert in web development and SEO functionality, currently holds a master certification in Adobe Video development and specializes in creating logos and branding for ecommerce, presentations and interactive designs for the implementation of product marketing.

“We are very pleased to add such highly talented and dedicated personnel to both our corporate management in North America as well as group operations in Europe,” said company Chairman and CEO, Michele Ciavarella.  “These additions to our outstanding global leadership team are an important milestone for Newgioco Group and checks off another box towards achieving our objective of becoming a premier international leisure gaming company.”

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly owned subsidiaries, is a fully licensed and integrated online and land-based gaming operator.  The company conducts its business primarily through internet-based gambling and sports betting platform under the registered brand Newgioco on our website www.newgioco.it as well as retail neighborhood betting shops situated throughout Italy.

The company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing.  Additional information is available on our corporate website at www.newgiocogroup.com.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “forecast,” “plans,” “intends,” “potential” and similar expressions.  These statements reflect the company’s current beliefs and are based upon currently available information.  Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements.

Newgioco Group Initiates Investor Awareness and Operations Marketing Programs through 2017

Newgioco Group Initiates Investor Awareness and Operations Marketing Programs through 2017

New York, June 21, 2017.  Newgioco Group, Inc. (OTCQB:NWGI) a licensed lottery and gaming retailer and certified betting technology provider, announced today that it has implemented a corporate investor relations program and operational marketing campaign.

As the company rotates from being a retail-facing operator into a full-service betting technology provider for the leisure gaming industry, our shareholder communications strategy aims to increase awareness about Newgioco within the investment community by highlighting its business relationships, deployment strategy and industry dynamics, with the ultimate goal of enhancing shareholder value.

In addition, concurrent with a comprehensive customer acquisition campaign, the company plans to roll-out its leading-edge, certified betting operating platform on July 21, 2017, through a company sponsored trade show in Rome, Italy.

Newgioco’s strategic investor relations program is founded upon best practices and the company’s mandate to provide full and current disclosure to existing shareholders and potential investors.  As such, the campaign will also employ OTC Markets, LLC recognised services such as professional marketing and investor relations firms as well as company-paid independent and unbiased analyst coverage on Newgioco business.

“Over the past several years, Newgioco Group has concentrated its focus on building shareholder value through executing our core business blueprint launched in 2014.  As reported earlier this year, fiscal 2016 proved to be an outstanding year driven by record revenue growth and was a key inflection point on the back of our transformational acquisitions” said company Chairman and Chief Executive Officer, Michele Ciavarella.  “We believe that our shareholders will be pleased to find that they now own a part of a dynamic growth company with vast opportunities ahead and a very bright future.  Our board and management team also believe that it is an appropriate time to establish a more proactive strategic investor relations plan to effectively communicate our investment thesis, growth strategy, business objectives and corporate milestones to a wider audience of sophisticated and potential investors.”

Newgioco is dedicated to the elevated level of financial and corporate disclosure that is required for an OTCQB certified issuer and emphasizes its commitment to building shareholder value.  Before making an investment decision based on analyst comments and third-party information about the company, shareholders and potential investors are encouraged to review and read the company’s SEC filings and disclosures available at www.sec.gov as well as the OTC Markets website at www.otcmarkets com.

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly owned subsidiaries, is a fully licensed and integrated online and land-based gaming operator.  The company conducts its business primarily through internet-based gambling and sports betting platform under the registered brand Newgioco on our website www.newgioco.it as well as retail neighborhood betting shops situated throughout Italy.

The company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, lottery, interactive games and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing.  Additional information is available on our corporate website at www.newgiocogroup.com.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates,” “believes,” “estimates,” “expects,” “forecast,” “plans,” “intends,” “potential” and similar expressions.  These statements reflect the company’s current beliefs and are based upon currently available information.  Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements.