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

 

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.