Newgioco Group Signs New Web Operators While Online Betting Sales Continue to Surge

NEW YORK, NY / ACCESSWIRE / May 7, 2018 / Newgioco Group, Inc. (OTCQB: NWGI) ("Newgioco" or the "Company") a leisure betting technology company providing regulated lottery and gaming products and services through licensed subsidiaries based in Europe, is pleased to announce the signing of two new online operators based in Rome and Sardegna expanding its distribution network in western Italy.

The new urls www.782-sport.it and www.gamesmart.it go live on May 15th and are expected to grow the Company's online player base by approximately 500 new registrations per month and increase annual betting turnover by approximately $18 million representing an estimated 2.5% increase in net gaming revenue.

In addition, the Company continues to outperform 2018 guidance with strong growth in non-GAAP online betting turnover in all categories apart from virtual betting which nonetheless remains consistent, and which was offset by a significant gain in live horse-race betting. Sequential bi-monthly product sales trended as follows:

Product
January – February 2018
March –
April 2018
% Change
Sportsbook:
 $ 3,552,538 $ 6,022,574 70 %
Casino:
 $ 16,031,081 $ 19,149,372 19 %
Live Horse-racing:
 $ 56,174 $ 187,185 233 %
Online Poker & Skill Games:
 $ 84,153 $ 97,500 16 %
Cash Games:
 $ 260,059 $ 310,447 19 %
Virtual Bets:
 $ 60,328 $ 48,212 -20 %
Overall Change:
 $ 20,044,333 $ 25,815,291 29 %

The Company plans to report full first-quarter results of operations on form 10-Q with the Securities and Exchange Commission prior to May 15, 2018.

"We are quite pleased thus far with first quarter transactional performance as our Newgioco branding continues strong momentum throughout our core market in Italy. The recently acquired online casino network and the opening of our regional office in Napoli continued to drive remarkable organic top-line growth" said Company President, Alessandro Marcelli. "With federal elections and the Bersani online renewal behind us and with the land-based license auction looming ahead, we expect acquisition activity and growth to accelerate through 2018. Delivering customized solutions for regional online gaming operators, with our leading-edge ELYS betting platform, demonstrates our commitment to high margin, a technology-driven business that will drive greater shareholder value going forward."

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly-owned subsidiaries, is a fully integrated, licensed gaming technology company. The company conducts its business primarily through retail neighborhood betting shops and internet-based betting software platform under the registered brand Newgioco through our licensed website www.newgioco.it situated in Italy.

The company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, lottery, interactive games, and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. Additional information is available on our corporate website at www.newgiocogroup.com.

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "forecast," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based on the currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements.

Investor Relations Contact
Newgioco Group, Inc.
[email protected]

SOURCE: Newgioco Group, Inc.