NEW YORK--(BUSINESS WIRE)--Newgioco Group, Inc. (“Newgioco” or the “Company”) (Nasdaq: NWGI), a global sports betting and interactive gaming technology company providing fully integrated, omni-channel sports betting software solutions, is pleased to announce that Odissea Betriebsinformatik Beratung GmbH (“Odissea”), its wholly owned software development subsidiary, has passed Stage 1 of the ISO-27001 certification process for safety management which involves an informal review of the Information Security Management System (ISMS), for example checking the existence and completeness of key documentation such as the organization's information security policy, Statement of Applicability (SoA) and Risk Treatment Plan (RTP).
The procedures for Stage 2 certification, involves a more detailed and formal compliance audit and independent testing of the ISMS against the requirements specified in ISO-27001, and is currently underway.
“We are continuing to put full measures in place that include the ISO-27001 as well as the platform certifications provided by Gaming Laboratories International (“GLI”) for our anticipated launch in the US sports betting market by the third quarter of 2020,” stated Michele (Mike) Ciavarella, Newgioco’s Chief Executive Officer. “We expect ISO-27001 to be completed within two months and to have Version 1 of Odissea’s Elys US Platform ready to submit for GLI-33 certification within two to three weeks. The GLI-33 certification independently verifies for state regulators the transparency of each bet transaction that is processed through our software.”
Once ISO-27001 certification is completed, Odissea will be subject to ongoing and follow-up reviews or audits to confirm that it remains in compliance with the standard.
About Newgioco Group, Inc.
Newgioco Group, Inc., is a global leisure gaming technology company, with fully licensed online and land-based gaming operations and innovative betting technology platforms that provide bet processing for casinos and other gaming operators. The Company conducts its business under the registered brand Newgioco primarily through its internet-based betting distribution network on its website, www.newgioco.it as well as in retail neighborhood betting shops throughout Italy.
Newgioco offers clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games and slots. Newgioco also owns and operates innovative betting platform software providing both B2B and B2C bet processing for casinos, sports betting and other online and land-based gaming operators. Additional information is available on our corporate website at www.newgiocogroup.com.
Investors may also find us on Facebook® and follow us on Twitter @NWGI_gaming.
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, among other aspects, statements regarding the Company’s anticipated launch in the US sports betting market by the third quarter of 2020, obtaining ISO-27001 certification within two months, and having Version 1 of Odissea’s Elys US Platform ready to submit for GLI-33 certification within two to three weeks. 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, among others, the Company’s ability to launch in the US sports betting market as planned by the third quarter of 2020, the Company’s ability to secure ISO-27001 certification as planned and to remain in compliance with the standard, the Company’s ability to submit Version 1 of Elys US Platform for GLI-33 certification as planned, the duration and scope of the COVID-19 outbreak in the US, including the impact to the state and local economies and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and its 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 the Company undertakes 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.