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 the integration of “Oddsmatcher Matched Betting” (“Oddsmatcher”), an innovative trading system for sports betting on its Elys Gameboard betting platform.
The Company, through its wholly owned subsidiary Multigioco Srl., has entered into an exclusive agreement with Guadagno Matematico Srl (“GM”, translated as Mathematical Gain) to integrate GM’s proprietary Oddsmatcher Matched Betting trading system which may offer Newgioco players a competitive advantage and is expected to drive customer engagement and activations. The service, which is regulated by the Italian ADM gaming regulator, is expected to go live on June 30, 2020 through the www.newgioco.it network in Italy.
“We are very pleased to have integrated GM’s innovative Oddsmatcher trading system through our www.newgioco.it network in Italy,” commented Alessandro Marcelli, Newgioco’s VP of Operations. “GM’s revolutionary system matches odds and bonuses that could provide our customers a competitive advantage by scanning multiple networks and betting exchanges for price efficiency. As we develop the integration of Oddsmatcher within Italy, we believe that we could improve sportsbook margins on our world-class Elys platform and increase customer engagement and activations as we expand internationally.”
“The integration of Oddsmatcher is another key step in our plan to develop Newgioco into one of the most advanced, technology-driven fixed-odds sports betting providers in the world,” stated Michele Ciavarella, Newgioco’s Chief Executive Officer. “Our Italian operations continue to represent an important proving ground to innovate and apply ground-breaking technologies that work seamlessly for sports betting operators in real-money, regulated markets and that could be applied to our expansion plans in the US market.”
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.
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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 competitive advantage expected to drive customer engagement and activations, plans to go live on its network on June 30, 2020, improve sportsbook margins and increase customer engagement and activations as Newgioco expands internationally, plan to develop Newgioco into one of the most advanced, technology-driven fixed-odds sports betting providers in the world, and innovate and apply ground-breaking technologies that work seamlessly and that could be applied to our expansion plans in the US market. 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 offer a competitive advantage to drive customer engagement and activations as expected, go live on its network on June 30, 2020 as planned, improve sportsbook margins and increase customer engagement and activations as Newgioco expands internationally as expected, develop Newgioco into one of the most advanced, technology-driven fixed-odds sports betting providers in the world as planned, and innovate and apply ground-breaking technologies in the US market as expected, the duration and scope of the COVID-19 outbreak worldwide, 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.