New York – April 21, 2020 – 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 its wholly owned subsidiary Virtual Generation Limited (“VG”) becomes the first certified provider of online virtual games in Colombia.
Colombia’s national gaming authority Coljuego has approved the use of VG products for online distribution through PC, tablet and mobile applications. This authorization allows VG’s partner operators including the previously announced agreement with aquijuego.co to begin offering virtual games online throughout Colombia effective immediately.
The Company’s newly formed team in Colombia was able to stay on schedule to accomplish this challenging objective during incredibly difficult work from home restrictions demonstrating the Company’s go-to-market speed and team dedication. VG’s products offer many advantages including high-definition pre-recorded real sports events built on our cost-effective betting engine.
“Colombia remains at the forefront of online i-gaming and sports betting regulation in Latin American countries. Reaching this regulatory accomplishment in such a short period of time is made even more rewarding considering the ongoing logistical challenges due to the global health and economic crisis,” stated Michele (Mike) Ciavarella, Newgioco Chief Executive Officer. “The temporary suspension of live sports has drawn appeal and captivation with the unique features virtual gaming and esports. Virtual sports impart characteristics of live competitions and bring the sensations and emotions that would be experienced in live events down to the most minute detail. We continue to strive to provide entertaining, feature-rich products and caring customer service during this sensitive time and are very proud of all of our teams accomplishments.”
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 statements regarding continuing to strive to provide entertaining, feature-rich products and caring customer service during this sensitive time. 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 our ability to continuing to strive to provide entertaining, feature-rich products and caring customer service during this sensitive time, and the risk
factors described in Newgioco’s Annual Report on Form 10-K for the year ended December 31, 2018 and our 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 we undertake 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.
For further information, please contact:
Newgioco Group, Inc.
Michele Ciavarella, Chief Executive Officer