Newgioco Group, Inc. opens Risk Management Office in Plan for Exchange Listing of Securities
New York, September 27, 2017. Newgioco Group, Inc. (OTCQB:NWGI) a leisure betting technology company providing regulated lottery and gaming products and services through licensed subsidiaries based in Europe, announces the opening of its risk management office based in Teramo, Italy and the hiring of five full-time bet traders and fraud prevention personnel as part of the Company’s previously stated plans to seek an exchange listing of its securities.
The purpose of the risk management team is to manage feeds provided by our data supplier Sportradar, which creates the portfolio of our sports bet offerings. We offer odds on pre-match and in-play events on several lines including: Soccer; Basketball; Tennis; Formula One; SportBike; Volleyball; Handball; Table Tennis; Ice Hockey; Football; Darts; Boxing; Baseball; and Rugby.
Our risk management department is equipped with one of the most advanced third-party risk management software from Innbets. In addition, our team of traders can accept or refuse bets that exceed automatic bet acceptance thresholds that are pre-programmed into our leading-edge ELYS betting platform.
Company Chairman and CEO Michele Ciavarella, stated, “the launch of our risk management department is the next key step toward preparing Newgioco for our planned expansion in Italy, Europe’s second largest betting market, through the remainder of 2017 and 2018. We expect this division to become one of our largest hiring departments as Newgioco expands into new regulated betting markets.”
About Newgioco Group, Inc.
Newgioco Group, Inc., together with its wholly owned 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.
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.