NEW YORK--(BUSINESS WIRE)--Newgioco Group, Inc. (“Newgioco” or the “Company”) (Nasdaq: NWGI), a global sports betting and interactive gaming technology company, is pleased to announce that the Company has received Gaming Labs International (GLI®) certification to the GLI 20: Standards for Kiosks and GLI-33: Event Wagering Systems standards for the self-service betting terminal (“SSBT” or “kiosk”) installation of its Elys sports betting platform.
GLI is the world’s largest and most experienced independent testing laboratory delivering the highest quality land-based, lottery and iGaming testing and assessment services to regulators, suppliers, and operators in the gaming industry. The Company´s Elys technology was certified by GLI in accordance with the testing, inspection and compliance procedures of GLI-20, GLI-33 and the standards set out by the DC Lottery and Gaming Commission. The Company will now commence the final phase of testing the Elys mobile platform.
The kiosk installation system is designed to facilitate the transaction of land-based (retail) sports betting through kiosks in licensed betting venues and potentially a wide variety of other establishments such as OTB and sports bars throughout the U.S. where permitted.
The certification of the Company’s Elys self-service betting terminal clears the final hurdle to commence installations in DC, which is subject to completion of the state licensing process.
“The U.S. market opportunity has grown significantly since the repeal of PASPA in May 2018 with about 21 states now allowing regulated sports betting either through online or land-based channels,” commented Mike Ciavarella, CEO of Newgioco Group, Inc. “We estimate that the addressable market for our Elys technology can significantly outsize that of our foundational market in Italy over the next few years. Elys is an innovative and state-of-the-art betting technology that certainly should make its mark on the gaming industry in the coming years.”
“GLI is pleased to have had the privilege to work with Newgioco on this project. Their team was enthusiastic, supportive and professional throughout the process which was a key contributor to the success of the evaluation,” adds Salim Adatia, GLI’s Vice President of Client Services for North America. “As the only independent lab working with all regulated jurisdictions worldwide – both existing and emerging – we are excited to continue our work with Mike and his team as we help Newgioco navigate the way forward with their expansion plans.”
About Newgioco Group, Inc.
Newgioco Group, Inc., is a global leisure gaming technology company operating in 12 countries worldwide, with fully licensed online and land-based gaming operations in Italy. In Italy, Newgioco offers its clients a full suite of leisure gaming products and services, such as sports betting, esports, virtual sports, online casino, poker, bingo, interactive games and slots.
The Company’s innovative alternative wagering system services online operators, casinos, retail betting establishments and franchise distribution networks. The Company has completed the product regulatory requirements to commence B2B operations in the United States. Additional information is available on our corporate website at www.newgiocogroup.com.
Investors may also find 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 include statements regarding the commencement of the final phase of testing the Elys mobile platform, the commencement of installations in DC and completion of the state licensing process, the addressable market for Elys technology significantly outsizing that of our foundational market in Italy over the next few years, and Elys technology making its mark on the industry in the coming years. 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, our ability to successfully commence the final phase of testing the Elys mobile platform, our ability to commence installations in DC and complete the state licensing process, our ability to expand the addressable market for Elys technology over the next few years, the impact of the Elys technology on the gaming industry in the coming years, 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, 2019 and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 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.