Newgioco Reaches Milestone 2,010 Webshops in Italy

NEW YORK, July 11, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced that it has expanded its distribution network to 2,010 webshop locations in Italy by adding another 509 new locations during the second quarter, repeating its successful growth in the first quarter of 2019.

Year-to-date, Newgioco has added 1,010 total locations in Italy to its base of 1,000 locations at December 31, 2018, doubling its retail footprint and expanding its online market share. As a result, Newgioco has now reached an all-time high for webshop locations, and now has one of the largest webshop distribution offering sports betting in the competitive and highly regulated Italian market.

“The stability and popularity of our ELYS sports betting platform is enabling rapid organic growth throughout Italy,” stated Newgioco VP of Operations, Alessandro Marcelli. “Overall, we expect continued growth in our retail footprint, and anticipate generating 25-30% growth in handle for the full year as locations stabilize following the conversion to the Newgioco platform and as the soccer season commences during the second half of this year.”

“This progress is driving brand recognition and increasing our online channel volume as a direct result,” added Newgioco CEO, Michele (Mike) Ciavarella. “We continue to leverage our solid footing in Italy and market experience as we seek to enter the U.S. market. The success in Italy should serve as a vital proof point for operators in the United States, helping us to position Newgioco in competitive tenders as the number of states regulating sports betting expands.”

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.

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 such as continuing growth in our retail footprint, generating 25-30% growth in handle for the full year as locations stabilize following the conversion to the Newgioco platform and as the soccer season resumes during the second half of this year, entering the U.S. market, and the success in Italy serving as a vital proof point for operators in the United States, helping to reinforce our position in competitive tenders. 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 grow our retail footprint, our ability to generate growth in handle for the full year, our ability to enter the U.S. market as planned, and our ability to use the success in Italy as a vital proof point for operators in the United States to reinforce our position in competitive tenders, and the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2018 and 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:

Hayden IR

Brett Maas (646) 536-7331
nwgi@haydenir.com

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Newgioco Names Mark J. Korb as Chief Financial Officer

Seasoned Financial Professional Brings Nearly Three Decades of Experience, Including Expertise in Multinational Business Expansion

New York, NY, July 03, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced the engagement of Mark J. Korb to the position of Chief Financial Officer, effective immediately.

Mr. Korb is a proven Chief Financial Officer with over 28 years of experience in multinational business planning and analysis for high-growth companies, as well as expertise taking startup operations to the next level. He has served with various private and publicly listed companies in many leadership capacities including group CFO, delivering operational and strategic leadership as well as full group financial functions through mergers and acquisitions. As a board member, he has cultivated relationships with shareholders, bondholders, financial institutions, rating agencies, and auditors. Mr. Korb was also responsible for leading the group IT strategy and implementation and supervised 16 direct reports including 10 divisional financial directors for Foodcorp (Proprietary) Limited, a multi-million-dollar consumer goods company based in South Africa.

He is proficient in change management, and in preparing and delivery of financial presentations to executives, board members, bond holders and rating agencies. Significantly, Mr. Korb has extensive experience in GAAP, IFRS and SEC Reporting, as well as IPO’s, High-Yield and Eurobond High Yield markets. In addition, he has experience with cross-border and foreign currency risk management, turnarounds, M&A, P&L and international business expertise among other strengths. Mr. Korb holds a Chartered Accountant certification from South Africa.

“Mr. Korb will provide valuable consulting services to the Company, including the financial expertise and compliance required of public companies in light of the Company’s planned listing of its common stock,” stated Newgioco CEO, Michele (Mike) Ciavarella. “Mark’s international experience and established relationships should directly benefit Newgioco as we seek to expand our geographic presence into new markets such as South Africa, South America and the United States.”

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.

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 such as the Company’s planned listing of its common stock, the new CFO’s international experience and established relationships directly benefiting Newgioco and its future plans with respect to the its venture into new markets such as South Africa, South America and the United States, and the expected impact of the new CFO including providing the financial expertise and compliance required of public companies. 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 Company’s ability to effect its planned listing of its common stock and its future plans with respect to the its venture into new markets such as South Africa, South America and the United States, and the contribution of the new CFO, and the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2018 and 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:

Hayden IR

Brett Maas (646) 536-7331
nwgi@haydenir.com

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Sports Betting Technology Provider Newgioco Appoints Experienced Businessman Clive P. Kabatznik as an Independent Director to its Board

Newgioco Adds Third Independent Member to the Board of Directors

NEW YORK, NY, June 27, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced the appointment of Clive P. Kabatznik to serve as an independent director of the Board of Directors effective June 26, 2019. Mr. Kabatznik shall also serve on the audit committee, the compensation committee, and the corporate governance and nominating committee of the Board.

“Clive, along with Paul Sallwasser and Steven Shallcross who were appointed to our Board recently, significantly improve our corporate governance and provide meaningful business expertise to our Board,” commented Chief Executive Officer, Michele (Mike) Ciavarella. “Together, their extensive international experience with both small and large listed and private companies in various fields of technology should be of considerable benefit to Newgioco’s direction, governance and growth for all our shareholders. This is another step towards demonstrating our commitment to the highest standards of corporate governance and to completing our long anticipated exchange listing. We will continue to build our senior personnel over the coming weeks and to firm up our unique go-to-market plan for the U.S. as an important component of our pathway to profitability.”

Mr. Kabatznik currently serves in several key roles with a variety of entities and with over 37 years of extensive versatile global business expertise, including as Founding member of 40K LLC, Chairman of Datos Health, Director of Harbor Inland Rum Company, Co-founder of Fluid Spirits Holdings and Director of Icagen, Inc. He brings a wealth of corporate and strategic business skills to Newgioco including the use of digital and computational platforms to solve the marketing and technological challenges facing both new and established businesses. He was previously, the Founder and Chief Executive Officer of Silverstar Holdings, which was one of the first U.S. publicly-listed companies to invest as an acquirer of South African businesses. In carrying out his responsibilities, Clive was instrumental in raising $250 million in equity and convertible debt to finance acquisitions and expansion since inception, including a Nasdaq Initial Public Offering and further equity and convertible debentures issued by Morgan Stanley, Bankers Trust and UBS. He also led an initial public offering of South African Companies on the Johannesburg Stock Exchange in 1999, the first such offering of a foreign subsidiary after the fall of apartheid for total proceeds $25 million. Mr. Kabatznik currently is a Member and serves on the Board of Governors and Executive Committee, Hebrew University of Jerusalem, Israel as well as the President of the American Friends of the Hebrew University, United States. He is a graduate, 1977-1979 with an M.A. in Sociology, Hebrew University of Jerusalem, Israel and 1974-1977 with B.A. in History and Sociology, Hebrew University of Jerusalem, Israel.

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.

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 such as the expected benefit to Newgioco Group direction, governance and growth for shareholders. 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 the ability of the new directors to contribute to the Company’s direction, governance and growth, and the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2018 and 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:

Hayden IR

Brett Maas (646) 536-7331
nwgi@haydenir.com

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Sports Betting Technology Provider Launches Second-Generation Mobile Platform

NEW YORK, NY / ACCESSWIRE / June 21, 2019 / Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced the launch of its flagship mobile web platform for international deployment.

Our unique, high-performance second-generation mobile platform is designed from the ground up on our powerful and modular ELYS sports betting engine to win head-to-head against some of our largest peer competitors,” stated Chief Executive Officer, Michele (Mike) Ciavarella. “The feature-rich design of our mobile experience, which is central to the highly anticipated execution of our common sense U.S. sports betting strategy, has been a key development project coded by our exceptional software team under project manager Federico Reisenauer. The Company’s first-generation mobile distribution in Italy has seen an increase of 96.6% growth in handle from approximately $10.1 million (or 11.5% of handle) to $19.8 million (or 17.0% of handle) for the period of January 1, 2018 to June 20, 2018 compared to the same year-on-year period in 2019, respectively. Our impressive growth in mobile access was a result of the launch of the first-generation product in October 2017.”

The original announcement of Newgioco’s mobile plans ahead of the May 2018 repeal of PASPA can be read here: https://www.marketwatch.com/press-release/newgioco-group-inc-launches-new-mobile-betting-app-on-elys-platform-2017-10-24

“With key performance data obtained from the first generation, our team identified deficiencies in typical mobile betting applications, specifically navigation and turn-around time to find their favorite event,” stated Company CTO Luca Pasquini. “The modular design allows Newgioco mobile to quickly go-to-market with plug-and-play features for certain U.S. markets with remarkable speed and cost efficiency, while end users quickly get to the desired bet ticket with just few clicks. Significantly, the new modular architecture includes features inherent of the leading-edge Material Design framework allowing the flexibility of quickly creating new layouts for a variety of both enterprise brands and chain store locations, private brands and applications to other services such as loyalty rewards for restaurants and cruise lines, push marketing for customer acquisition and retention and importantly, the ability to offer both online and land-based betting distribution under a variety of gaming regulations.”

The reveal of the new mobile platform for markets can be found on any PC, tablet or mobile devise at https://play.newaleabet.net in both English and Italian, with Spanish, German and Portuguese to follow shortly. Live wagers can only be taken where it is legally possible to do so. The Company expects to schedule the release of its U.S. demo app soon through its partnership in Montana.

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.

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 such as the expected scheduling of the release of our U.S. demo app. 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 release our U.S. demo app as scheduled and the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2018 and 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:

Hayden IR

Brett Maas (646) 536-7331
nwgi@haydenir.com

Sports Betting Technology Provider Newgioco Appoints Two Experienced and Independent Directors to its Board

NEW YORK, NY / ACCESSWIRE / June 17, 2019 / Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced the appointment of Paul Sallwasser and Steven A. Shallcross to serve as independent directors of the Board effective June 13, 2018. Messrs. Sallwasser and Shallcross shall also serve on the audit committee, the compensation committee, and the nomination and corporate governance committee of the Board.

“As a key first step towards accomplishing the goals stated in our recent Letter to Stockholders, we are very pleased to announce today the appointment of Paul and Steven to the Board and expect to announce a third independent member in the near future,” stated Chief Executive Officer, Michele (Mike) Ciavarella. “The accomplished caliber of our new Board members and their willingness to work with Newgioco is a testament to our commitment to good corporate governance. Their combined experience with publicly listed companies and SEC reporting will strengthen our ability to understand and address the needs of all our stakeholders. I look forward to working harmoniously with our Board and management team to accelerate the positive momentum of our leading-edge ELYS betting platform in the US sports betting market.”

Mr. Sallwasser currently serves as the CEO of the Florida Community Health Network and a director of Youngevity International, Inc. (NASDAQ: YGYI). He is a certified public accountant and began his career with Ernst & Young LLP (EY) in South Florida. He spent 39 years as a partner of the firm serving some of the largest publicly traded and government healthcare and biotechnology companies across the southeastern United States. During his career at EY, he served in the firm’s national office as a member of the Quality and Regulatory Matters Group which was responsible for the firm’s audit quality review program as well as representing the firm during the inspections by the Public Company Accounting Oversight Board (PCAOB) and the evaluation of the results from the PCAOB inspections. He graduated summa cum laude from Miami University (Ohio) with a B.S. in Accounting.

Mr. Shallcross currently serves as CEO, CFO, and Director of Synthetic Biologics, Inc. (NYSE American: SYN) and is a certified public accountant and senior executive with over 25 years of comprehensive international, financial and operational experience. Significantly, he has extensive expertise in mergers and acquisitions, partnerships and product development collaborations, strategic planning and budgeting, SEC reporting and systems integration and has been instrumental in equity and debt transactions raising over $800 million in capital, including two initial public offerings with various NYSE and NASDAQ listed companies. He was awarded Private Company CFO of the Year by the Tech Councils of Maryland, Northern Virginia and Washington DC and holds an MBA from the University of Chicago, Booth School of Business and a B.S. in Accounting from the University of Illinois.

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.

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 such as the expected announcement of a third independent member in the near future, future plans with respect to the Board and the expected impact of the new directors on the Company’s corporate governance. 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 its future plans with respect to the Board and the expected impact of the new directors on the Company’s corporate governance, and the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2018 and 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:

Hayden IR

Brett Maas (646) 536-7331
nwgi@haydenir.com

Sports Betting Technology Provider, Newgioco CEO Releases Letter to Stockholders and Potential Investors

NEW YORK, NY / ACCESSWIRE / June 5, 2019 / Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced that its Chief Executive Officer, Mr. Michele (Mike) Ciavarella, released a Letter to Stockholders highlighting current activities and outlining its updated corporate strategy for 2019. The letter is included in its entirety below:

Dear Friends and Valued Stockholders,

I would like to take this opportunity to report the progress we have made in penetrating and monetizing the Italian sports betting market and to discuss Newgioco’s vision for prosperity.

As you may recall, about five years ago Newgioco set out on a mission to roll up our distributed agency and partner-based retail betting operations in Italy while testing and preparing our new, leading-edge betting platform, ELYS, that was commercially launched in August 2017. The launch of ELYS was an unequivocal success, as our handle grew from about $200 million in 2017 to over $400 million in 2018 through a variety of access points such as coffee shops, betting shops, bars, restaurants and taverns. The Italian markets’ favorable attestation to ELYS reflects the remarkable work and integrity of our operations and development team in Europe and corporate leadership.

With the U.S. Supreme Court repeal of PASPA in May 2018, we have the golden opportunity of replicating our success established in Italy in the United States. Newgioco has invested opportunistically to capitalize on the U.S. sports betting market and we believe we are now well poised to gain solid returns on this invested capital.

Through the early stages, we were fortunate to have had sage guidance from highly respected experts along with disciplined management and experienced non-executive directors. While we thank our past relationships, we now move forward on the strength of our proven betting software – ELYS; and renewed discipline in driving sustainable earnings and profitability. The next step in driving investor and stockholder value is a plan to list our company shares on a national stock exchange where Newgioco could attract long-term institutional sponsorship. To help achieve this, the corporation has taken steps to attract a new and experienced CFO and independent, non-executive members of the board all of whom have significant U.S. exchange listed experience and reporting know-how. These additions to corporate management should enhance our operational and technology teams led by Alessandro Marcelli and Luca Pasquini, respectively.

The remarkable similarities in addressable market between our core operations in Italy and the United States should put Newgioco in an enviable position ahead of a projected 15-year secular trend in the $500 billion global gaming industry. We are increasingly confident in the viability of our U.S. deployment plan and its two-pronged strategy, the first of which is already underway with traditional licensed Tribal and non-Tribal casinos and commercial gaming establishments comprised of a broad network of about 1,500 such locations. Our second pathway focuses on approximately 700,000 commercial access points throughout regulated and specific non-regulated states.

Compared to well-established standards, ELYS is now viewed by many industry experts and analysts around the world as a disruptive, leading-edge betting system with one of the most unique and dynamic risk management processors available to betting operators globally.

Our unique distribution-model ELYS architecture, designed, built and proven in the highly-contested and savvy Italian retail betting market, is how Newgioco stands apart against all major established industry brands in the U.S. With this leading-edge bet risk-management technology, strong operational and technology talent in Europe, and the sound business guidance of highly reputable executives in sync with prudent corporate governance, we believe our market value offers a significant discount to comparable peer value. We also believe Newgioco is now better positioned than ever to step on to the next rung of the ladder to success and to drive shareholder value through an upgraded exchange listing and renewed commitment to profitability.

With your continued confidence, I look forward to performing on this next exciting stage.

Mike Ciavarella, CEO

About Newgioco Group, Inc.

Newgioco Group, Inc., is a global sports betting and 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.

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 land-based casinos, sports betting and other online and land-based gaming operators. Additional information is available on our corporate website at www.newgiocogroup.com.

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 such as being well poised to gain solid returns on invested capital, the plan to list our company shares on a national stock exchange to attract long-term institutional sponsorship, the additions to our corporate management enhancing our operational and technology teams, the similarities in addressable market between our core operations in Italy and the United States placing Newgioco in an enviable position, our market value offering a significant discount to comparable peer value, and Newgioco being better positioned than ever to step on to the next rung of the ladder to success and to drive stockholder value through an upgraded exchange listing and renewed commitment to profitability to step on to the next rung of the ladder to success. 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 gain solid returns on capital invested in the U.S. market, our ability to effect an upgrade to an exchange listing and attract long-term institutional sponsorship, our ability to attract and secure a new CPA experienced CFO and non-executive directors with U.S. exchange listed experience and their contribution to our operational and technology teams, our ability to use the similarities in addressable market between Italy and the United States to place Newgioco in an enviable position, our ability to grow our market value, and our ability to drive stockholder value through an upgraded exchange listing and renewed commitment to profitability and the risk factors described in our Annual Report on Form 10-K and 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:

Hayden IR
Brett Maas (646) 536-7331
nwgi@haydenir.com

Sports Betting Technology Provider Newgioco to Present at the 9th Annual LD Micro Invitational

LOS ANGELES, CA / ACCESSWIRE / May 31, 2019 / Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, today announced that it will be presenting at the 9th annual LD Micro Invitational on June 4, 2019 at 10:20 a.m. PDT / 1:20 p.m. EDT. Company CEO, Michele Ciavarella will be presenting and conducting one-on-one meetings with investors.

“The rapidly growing sports betting market in the U.S. is creating a significant greenfield opportunity, and I look forward to presenting at this well-attended event the outstanding developments at Newgioco made which we expect will expand deliveries of our leading edge ELYS betting platform throughout the U.S. and other new countries,” commented Mr. Ciavarella.

A webcast of the Newgioco presentation may be viewed at the following link: http://wsw.com/webcast/ldmicro16/nwgi/

“This year’s Invitational will showcase some of the most unique names in the financial world, from early-stage start-ups to well-established names on the national exchanges,” stated Chris Lahiji. “Even though LD has emerged as one of the largest and most influential organizations in the space, our focus has never deviated from showcasing some of the more interesting businesses in the world to our ever growing community.”

The LD Micro Invitational will take place June 4th and 5th in Los Angeles, at the Luxe Sunset Bel Air Hotel, will feature 230 companies, and will be attended by over 1,000 individuals.

View Newgioco’s profile here: http://www.ldmicro.com/profile/NWGI

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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.

About LD Micro

LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space.

What started out as a newsletter highlighting unique companies has transformed into several influential events annually (Invitational, Summit, and Main Event).

In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and micro-cap universe.

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 such as the developments made by Newgioco expanding deliveries of our leading edge ELYS betting platform throughout the U.S. and other new countries. 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 expand deliveries of our leading edge ELYS betting platform throughout the U.S. and other new countries, and the risk factors described in our Annual Report on Form 10-K and 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:

Hayden IR
Brett Maas (646) 536-7331
nwgi@haydenir.com

Newgioco Reports 7.8% Increase in First Quarter 2019 Revenues

Handle Increases 51.3% and GGR up 12.6%

NEW YORK, NY / ACCESSWIRE / May 16, 2019 / Newgioco Group, Inc. (“Newgioco” or the “Company”) (OTCQB: NWGI), a sports betting and gaming technology company providing fully integrated software solutions to regulated online and land-based gaming and sports betting operators, headquartered in Toronto, Canada, with international gaming operations, reported its financial and operating results for the three months ended March 31, 2019.

First Quarter 2019 Financial and Business Highlights

  • Solid Q1 Revenue of $9.3 million, up 7.8%.
    • Gross gaming revenue (GGR) of $10.4 million, up 12.6%.
    • Handle of $137.0 million, up 51.3%.
  • Loss from operations of 1,314,879, compared to income from operations of $457,057.
  • Net loss of $3.1 million compared to net income of $769,000 in 2018.
  • Adjusted EBITDA of $(378,000) compared to $1.5 million in 2018.
  • Web-shop locations in Italy increased by 50% from 1,000 to 1,500 locations.
  • Agreement with Fleetwood Gaming, Inc. for the exclusive rights to distribute the ELYS sports and virtual betting products at select locations in the state of Montana.
  • Multi-year agreement with the Chippewa Cree Tribe in Box Elder, Montana to deploy the ELYS sports betting platform at the Northern Winz Casino.
  • Completed the acquisition of Virtual Generation Limited (“VG”), a leading developer of virtual gaming software, effective January 30, 2019 for approximately $4.5 million in a combination of cash and stock.

“This was a strong start to 2019 for Newgioco. We quickly established a presence in the rapidly expanding, greenfield U.S. market with two agreements in Montana for our ELYS sports betting platform which is due to commence a free-play pilot location in the very near future,” commented Michele (Mike) Ciavarella, Newgioco Chief Executive Officer. “State legislatures in several states – including Montana – are moving rapidly to codify regulations for sports betting, and we are in position to crystallise opportunities as these legislative efforts come to fruition. We have expanded our sales and marketing budget and increased our presence at trade shows to build awareness for our industry leading ELYS sports betting platform, and this has directly led to strong brand recognition and a growing sales pipeline.”

“Simultaneously, our sports betting business continues to enjoy robust growth, giving us the available resources to judiciously invest in growing our emerging SaaS business with our mainline focus on the U.S.,” added Mr. Ciavarella. “Total handle grew 51%, gross gaming revenue was up 12.6% and total revenue was also up 7.8% on a same period basis last year. We are also expanding our presence in Europe, especially in Italy where we are making progress in our stated goal to diversify revenues with our first revenues from global operations through the Virtual Generation acquisition earned in the first quarter. Web-based handle represented 63% of total handle in the first quarter, up from 51% in the first quarter last year. As a result, we continue to reduce the risk profile of our handle to revenue conversion, albeit with lower margin revenue from poker, lottery and casino products.”

“Our 2018 discretionary investment plan is also paying off in Europe quite early in 2019,” added Mr. Ciavarella. “The ratio of our investment to return in Italy saw exceptional multiples as reflected in the signing of major operators in Southern and other parts of Italy from established competitors that quickly increased our footprint by 50% from 1,000 to 1,500 web-based locations on a very low capital outlay. Simultaneously, we are continuing to invest strategically in the U.S., which did and will continue to contribute to our general and administrative costs for the foreseeable months. We consider the U.S. market as a significant greenfield opportunity requiring a three to five year investment and stabilization period, we are therefore continuing our discretionary spending to reinforce our presence in the markets we currently serve both inside and outside of Italy. In addition, while individual states enact their rules, and will likely fine tune them through this stabilization period, our rapid ex-Italy global deployments also represent significant growth catalysts for our ELYS platform. Therefore, our ex-Italy, U.S. and global outlook both represent attractive business multipliers over the near-term.”

First Quarter2019 Financial Summary (comparing Q1 2019 vs. Q1 2018)

Revenue

Revenue was $9.3 million, an increase of $672,000 or 7.8%, compared to revenue of $8.6 million 2018. The revenue increase was mainly attributable to a 51.3% increase in handle partially offset by a shift in gaming mix. Unfavorable foreign exchange rates had a non-cash impact of approximately $900,000 in the quarter, and on a constant currency basis, revenue would have been $10.2 million compared to $8.6 million, an increase of 18%.

General and Administrative Expenses

General and administrative expenses were $3.0 million compared to $2.1 million, an increase of 46.6% in the quarter as we continue to make investment in the U.S. operations to capture the regulated U.S. sports betting market. The increase was primarily due to significant front-loaded investments which included recruitment of staff in the U.S. with gaming experience, about $550,000 in technology development and software coding required for global expansion and platform certification, marketing, legal and other professional fees in support of the company’s expansion to the U.S., and approximately $350,000 for increased product marketing efforts including tradeshows in London and the U.S.A. as well as $300,000 towards active brand communications and preparations for the listing of our shares on the NASDAQ stock exchange.

Interest expense was up from $0.2 million in Q1/2018 compared to $1.5 million in Q1/2019, the increase in interest expense is primarily from the amortization of debt discounts relating to the sale of convertible debentures in 2018 and is a non-cash (accounting) charge.

Direct Selling Costs

Direct selling costs represent the fees paid to the company’s network service provider, license fees and commissions for field agents and promoters and are based on percentage of handle (turnover). Direct selling costs were $7.4 million compared to $6.1 million, an increase of 22.0%. The increase was primarily due to the significant increase in handle as these fees are linked as a percentage of handle.

Interest Expense

Net interest expense that includes $1.3 million of non-cash interest was $1.5 million compared to $212,000 in 2018, which was the result of interest expense incurred on debentures issued in 2018.

Net Income (Loss)

Net loss was $3.1 million, or ($0.04) per diluted share based on a weighted average of 76,394,867 shares outstanding, compared to net income of $769,000, or $0.01 per diluted share based on a fully-diluted weighted average shares outstanding of 76,096,053. The net loss included $1.1 million in added expenses, included trade show expenses that was $300,000 higher than last year, executive compensation that was $100,000 higher than last year as well as recently initiated brand communications. The net loss for the quarter ended March 31, 2019 also included $441,000 in spending in anticipation of future growth, particularly in North America, and $400,000 retail agent commissions due to the growth of handle in Italy. We expect expenses to ramp higher as we continue to invest in our B2B SaaS strategy with a primary focus on the U.S. as well as leveraging our existing footprint in 12 countries including Italy, from our strong cash balance.

Other Comprehensive Income / (Loss)

For the quarter, the Company recorded income of approximately $56,180 for foreign currency translation adjustment, compared to income of approximately $64,518 for foreign currency translation adjustment in Q1 2018.

Adjusted EBITDA

Adjusted EBITDA for the quarter was a negative $378,000 compared to $1.5 million. A reconciliation from Comprehensive Income (Loss), as shown in the company’s Consolidated Statements of Operations and Comprehensive Income (Loss), to Adjusted EBITDA is included in the tables of this press release.

Balance Sheet Summary

The Company had $5.2 million in unrestricted cash and cash equivalents as of March 31, 2019 compared to $6.3 million at December 31, 2018 as the Company used discretionary available cash to increase tradeshow presence and brand communications. With the resulting successful handle growth from the 2018 discretionary spend, the Company expects to continue to prudently invest available discretionary cash to expand its footprint through countries and regions which it currently has operations through Multigioco, Rifa, Ulisse and Virtual Generation will continue brand visibility and building its U.S. team.

Non-GAAP Financial Measure – Adjusted EBITDA

This news release includes information on Adjusted EBITDA, which is a non-GAAP financial measure as defined by SEC Regulation G.

Management believes that Adjusted EBITDA, when viewed with our results under GAAP and the accompanying reconciliations, provides useful information about our period-over-period growth. Adjusted EBITDA is presented because management believes it provides additional information with respect to the performance of our fundamental business activities and is also frequently used by securities analysts, investors and other interested parties in the evaluation of comparable companies. We also rely on Adjusted EBITDA as a primary measure to review and assess the operating performance of our Company and our management team.

Adjusted EBITDA is a non-GAAP financial measure. We calculate adjusted EBITDA by taking comprehensive income (loss), and adding back the expenses related to foreign currency translation adjustment, total other expenses(loss), income taxes, product readiness and U.S market launch and adjustment for salary figures in prior years. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures. Adjusted EBITDA should not be construed as a substitute for comprehensive income (loss) (as determined in accordance with GAAP) for the purpose of analyzing our operating performance or financial position, as Adjusted EBITDA is not defined by GAAP. A reconciliation of Adjusted EBITDA to comprehensive income (loss) is provided in the tables at the end of this press release.

Conference Call

The Company hosted a conference call with investors and interested parties to listen to the operating results and comments from executives. A replay will be available until May 29, 2019 which can be accessed by dialing 1-844-512-2921 if calling within the United States or 1-412-317-6671 if calling internationally. Please use passcode 13690851 to access the replay.

In addition a live webcast is available over the Internet and is accessible at http://public.viavid.com/index.php?id=134591.

AboutNewgioco Group, Inc.

Newgioco Group, Inc., headquartered in Toronto, Canada, is a vertically-integrated 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 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. 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 including information about EBITDA presentation is available on our corporate website at www.newgiocogroup.com and will remain on our website indefinitely as we will continue to present values for EBITDA.

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. 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 the risk factors described in Newgioco’s Annual Report on Form 10-K and 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:

Hayden IR

Brett Maas (646) 536-7331
nwgi@haydenir.com

 

NEWGIOCO GROUP, INC.
Consolidated Balance Sheets
(Unaudited)

 

March 31,
2019
December 31,
2018
Current Assets
Cash and cash equivalents
$
5,179,403
$
6,289,903
Accounts receivable
197,221
10,082
Gaming accounts receivable
1,066,470
1,021,052
Prepaid expenses
124,177
124,712
Related party receivable
27,866
49,914
Other current assets
152,090
55,700
Total Current Assets
6,747,227
7,551,363
Noncurrent Assets
Restricted cash
1,549,431
1,560,539
Property, plant and equipment
383,528
354,799
Intangible assets
16,468,511
12,583,457
Goodwill
267,146
262,552
Investment in non-consolidated entities
250,000
275,000
Total Noncurrent Assets
18,918,616
15,036,347
Total Assets
$
25,665,843
$
22,587,710
Current Liabilities
Line of credit – bank
$
825,000
$
750,000
Accounts payable and accrued liabilities
5,170,864
4,603,608
Gaming accounts balances
1,110,260
1,049,423
Taxes payable
1,059,477
1,056,430
Advances from stockholders
44,683
39,237
Convertible Debt, net of discount of $3,300,943 and $4,587,228, respectively
4,473,994
3,942,523
Notes payable
2,255,457
Notes payable – related party
1,820,910
318,078
Bank loan payable – current portion
119,863
120,920
Other current liabilities
146,304
Total Current Liabilities
17,026,812
11,880,219
Bank loan payable
190,197
225,131
Other long-term liabilities
619,991
608,728
Total Liabilities
17,837,000
12,714,078
Stockholders’ Equity
Preferred stock, $0.0001 par value; 20,000,000 shares authorized, none issued
Common Stock, $0.0001 par value, 160,000,000 shares authorized; 77,980,255 and 75,540,298 shares issued and outstanding as of March 31, 2019 and December 31, 2018
7,837
7,555
Additional paid-in capital
25,072,634
23,956,309
Accumulated other comprehensive income
(1,137,518
)
(1,081,338
)
Accumulated deficit
(16,114,110
)
(13,008,894
)
Total Stockholders’ Equity
7,828,843
9,873,632
Total Liabilities and Stockholders’ Equity
$
25,665,843
$
22,587,710

 

NEWGIOCO GROUP, INC.
Consolidated Statements of Operations and Comprehensive Income (Loss)
(Unaudited)

 

Three Months Ended
March 31,
2019
2018
Revenue
$
9,266,294
$
8,593,867
Costs and Expenses
Selling expenses
7,407,706
6,077,357
General and administrative expenses
3,173,467
2,059,453
Total Costs and Expenses
10,581,173
8,136,810
Income (Loss) from Operations
(1,314,879
)
457,057
Other Expenses (Income)
Interest expense, net of interest income
1,503,790
212,239
Changes in fair value of derivative liabilities
(254,289
)
Imputed interest on related party advances
1,514
Gain on litigation settlement
(516,120
)
Loss on marketable securities
25,000
Total Other Expenses (Income)
1,528,790
(556,656
)
Income (Loss) Before Income Taxes
(2,843,669
)
1,013,713
Income tax provision
261,547
245,036
Net Income (Loss)
$
(3,105,216
)
$
768,677
Other Comprehensive Income (Loss)
Foreign currency translation adjustment
(56,180
)
(64,518
)
Comprehensive Income (Loss)
$
(3,161,396
)
$
704,159
Income (loss) per common share – basic *
(0.04
)
0.01
Income (loss) per common share – diluted *
(0.04
)
0.01
Weighted average number of common shares outstanding – basic
76,394,867
74,186,583
Weighted average number of common shares outstanding – diluted
76,394,867
76,096,053

 

NEWGIOCO GROUP, INC.
Consolidated Statements of Cash Flows
(Unaudited)

 

For the Three Months Ended
March 31,
Cash Flows from Operating Activities
2019
2018
Net income (loss)
$
(3,105,216)
)
$
768,677
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization
158,100
158,357
Amortization of deferred costs
13,558
Non-cash interest
1,290,202
87,150
Imputed interest on advances from stockholders
1,514
Changes in fair value of derivative liabilities
(254,289
)
Unrealized loss on trading securities
25,000
Recovery of assets
(516,120
)
Bad debt expense
6,354
Foreign transaction gain
109,960
Change in intercompany
152,066
Changes in Operating Assets and Liabilities
Prepaid expenses
6,862
(119,504
)
Accounts payable and accrued liabilities
545,630
(60,647
)
Accounts receivable
(139,630
)
66,109
Gaming accounts receivable
(65,651
)
331,802
Gaming accounts liabilities
81,632
756,469
Taxes payable
23,981
146,571
Other current assets
(65,417
)
(8,983
)
Customer deposits
53,684
Other current liabilities
146,304
Long term liability
23,326
13,329
Net Cash (Used in) Provided by Operating Activities
(812,851
)
1,444,031
Cash Flows from Investing Activities
Acquisition of property, plant, and equipment, and intangible assets
(46,804
)
(182,858
)
Increase in restricted cash
1
60
Cash received in acquisition of Virtual Generation
46,344
Net Cash Used in Investing Activities
(459
)
(182,798
)
Cash Flows from Financing Activities
Proceeds from bank credit line
275,000
(181,413
)
Repayment of bank credit line
(200,000
)
Repayment of bank loan
(29,134
)
(30,526
)
Proceeds from debentures and convertible notes, net of repayment
126,849
Conversion of debentures exercised
55,200
Proceeds from (repayment of) promissory notes
(263,491
)
Proceeds from (repayment of) promissory notes, related party
(175,661
)
Common stock issued for purchase of Virtual Generation
196,783
Loan to related party
(43,713
)
Advance to related party
(48,039
)
Advances from stockholders, net of repayment
6,596
(559,131
)
Net Cash Used in Financing Activities
(178,420
)
(692,260
)
Effect of change in exchange rate
(118,770
)
151,378
Net (decrease) increase in cash
(1,110,500
)
720,351
Cash – beginning of the period
6,289,903
6,469,858
Cash – end of the period
$
5,179,403
$
7,190,209

 

NEWGIOCO GROUP, INC.
Calculation of Adjusted Earnings Before Interest,
Taxes, Depreciation and Amortization (Non-GAAP)

 

For the three months ended
March 31,
2019
2018
Comprehensive Income (Loss)
$
(3,161,396
)
$
704,159
Total Other Expenses (Income)
1,528,790
(556,656)
Foreign currency translation adjustment
56,180
64,518
Income tax provision
261,547
245,036
EBITDA
(1,314,879
)
457,057
Product Readiness and U.S. Market Launch
441,621
Items Relating to Legacy Activities
1,000,000
Items Outside the Normal Course of Business
495,239
Adjusted EBITDA
$
(378,019)
$
1,457,057

 

SOURCE: Newgioco Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/545612/Newgioco-Reports-78-Increase-in-First-Quarter-2019-Revenues

Newgioco Signs Expansion Deal Into Southern Italy

– Agreement strengthens footprint and boosts accretive growth in core Italian market

– Market response to cutting-edge ELYS betting platform continuous to drive growth

Our new customer previously operated through a licensed competitor prior to selecting the unique and innovative features of our ELYS™ betting Platform to improve the visibility of their gaming business analytics and bet risk-management throughout their venues. The agreement represents an accretive expansion of Newgioco’s distribution footprint in regulated stores and establishments such as bars, coffee shops, convenience stores, betting shops and other route operations throughout southern Italy and Sicily.

“Once again our team in Europe lead by Alessandro Marcelli, boosted by the recent addition of Angelo Merola, a highly respected name throughout the regulated Italian gaming industry, have proven the value of incorporating our ELYS™betting Platform by Odissea in the highly contested and vibrant Italian sports betting market,” commented Newgioco CEO Michele Ciavarella. “As a result of our recently launched Angular™ JavaScript website framework we expect a rapid go-to-market turnaround with bet processing starting in May 2019. Based upon their past performance, we anticipate an increase of approximately $350,000 in sports betting and $2 million in online Casino handle per month from this new operator.”

About Newgioco Group, Inc.

Newgioco Group, Inc., headquartered in Toronto, Canada, is a vertically-integrated 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 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. 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.

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 such as the expectation of a rapid go-to-market starting in May 2019 as a result of our recently launched Angular™ website framework and that the addition of this new operator to add approximately $350,000 in sports betting and $2 million per month in online Casino handle.  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 develop the customer web skin and go to market by May 2019 through the use of Angular™ JavaScript design, design; our ability to add approximately $350,000 in sports betting and $2 million per month in online Casino handle from this new operator, and the risk factors described in our Annual Report on Form 10-K and 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:

Hayden IR
Brett Maas (646) 536-7331
nwgi@haydenir.com

Newgioco CEO Mike Ciavarella Discusses Elys Betting Platform in Gambling Insider Magazine

Editorial Highlights the Challenges Faced by Casino Sportsbooks

“I am honored to have been able to comment on the fast rise of sports betting in the midst of complicated software terminology and the exuberance by casinos and patrons alike to partake in an active sports book as well as the many challenges and opportunities this creates for operators,” stated Mike Ciavarella, Chief Executive Officer of Newgioco. “Newgioco’s Elys™ betting platform by Odissea is a best-in-class, differentiated solution that helps licensed operators quickly analyze risk and maximize profit. Utilizing sophisticated technology-based risk management and adaptive business intelligence, Elys aims to be a key business partner of betting operators around the world.”

Elys is currently being used by over 25 partner operators in 12 countries including: Italy, Peru, Nigeria, Paraguay, Albania, Honduras, Colombia, Mexico, Dominican Republic, Uganda, Nicaragua, and Turkey and soon to be deployed through recently signed agreements with both tribal casino and commercial route operations in the U.S.

As stated by Mr. Ciavarella in the editorial, “Specialized stacked schematics combines processing technology, applications, and human skill to extract key data from incoming bets to reveal observations that would otherwise be imperceptible by human traders and off-the-shelf, plug-in risk management software alone.”

The editorial can be read in its entirety by visiting: https://www.newgiocogroup.com/home/in-the-news/

About Newgioco Group, Inc.

Newgioco Group, Inc., headquartered in Toronto, Canada, is a vertically-integrated 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 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. 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.

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 include statements regarding Elys aim to be a key business partner of betting operators around the world, and our plans to deploy Elys in tribal casino and commercial route operations in the U.S. 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 make Elys a key business partner of betting operators around the world,  our ability to deploy Elys in tribal casino and commercial route operations in the U.S and the risk factors described in our Annual Report on Form 10-K and 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:

Hayden IR
Brett Maas (646) 536-7331
nwgi@haydenir.com