Newgioco Continues to Gain Market Share in Italian Sports Betting Market

NEW YORK, NY / ACCESSWIRE / December 20, 2018 / Newgioco Group, Inc. ("Newgioco" or the "Company") (OTCQB: NWGI), today announced that the Company increased its share of the Italian sports betting market in November, according to a recent report of the leading gambling, betting, and gaming news agency AGIMEG - Agenzia Giornalistica sul Mercato del Gioco ("AGIMEG"). Newgioco is a vertically-integrated leisure gaming technology company, headquartered in Toronto, Canada, with fully licensed online and land-based gaming operations in Italy and Austria, and innovative betting technology platforms that provide bet processing for casinos and other gaming operators.

According to AGIMEG, the sports betting sector in Italy reached €148.5 million ($170 million) in Gross Gaming Revenues (GGR) for November 2018, an increase of approximately 1% year over year and approximately 11% month over month. Newgioco, through its wholly owned subsidiary Multigioco S.R.L ("Multigioco"), increased its market share rank (as a percent of GGR) to 22^nd in November, up from 25th in the October ranking. Newgioco showed the 7th largest increase on the list, improving its share by 0.10% to a total of 0.49%.

Michele Ciavarella, CEO of Newgioco, said, "Our continued market share gains in Italian sports betting are driven by robust organic transaction growth in both our online sales channel and land-based retail sales channel. In Italy, Newgioco also continues to maintain strong market share in poker betting (rank 6^th in October 2018) and has made a marked improvement in casino betting with GGR more than doubling on a year on year basis from about $295,000 in November 2017 to $664,000 in November 2018."

Company CFO Elizabeth MacLean added, "In addition to impressive growth in market share and revenues, we have recently begun to generate higher profits as a percentage of betting handle, resulting from the increased efficiency of our innovative betting technology platform. Newgioco's successful gaming business in Italy and strong leadership should provide a solid foundation for our expansion into the U.S. sports betting market through our leading edge technology platforms beginning in 2019."

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly-owned subsidiaries, is a vertically-integrated 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 retail neighborhood betting shops situated throughout Italy and Austria.

The Company offers its 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 through its subsidiary Odissea (www.odissea.at), 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.

Cautionary Note Concerning Forward-Looking Information

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 such as our gaming business in Italy and technology platforms providing a solid foundation for planned expansion into the U.S. sports betting market beginning in 2019. 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 expand into the U.S. sports betting market beginning in 2019, the risk factors described in the Company's Annual Report on Form 10-K and 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:

Darrow Associates
Bernie Kilkelly (516) 236-7007
[email protected]
Tel: (516) 236-7007

Hayden IR
Cameron Donahue (651) 653-1854
Brett Maas (646) 536-7331
[email protected]

Newgioco Group, Inc.
Investor Relations
Bill Mitoulas (416) 479-9547
[email protected]

ITALIAN SPORTS BETTING MARKET SHARE DATA FROM AGIMEG

(*) Agimeg processing on Adm data (November 2018)

SOURCE: Newgioco Group, Inc.