Newgioco Completes Successful Launch of ELYS Betting Platform

Business News

Newgioco Group Inc, a leisure betting technology company providing regulated lottery and gaming products and services through licensed subsidiaries based in Europe, announces the successful launch of our new Betting Platform Technology colloquially named “ELYS.”

The ELYS software platform, designed by our world-class software developers at Odissea Betriebsinformatik Beratung GmbH, went live on August 1, 2017. As a result, sports betting operations are now processed in-house through ELYS while skill games, lottery, casino, poker and other entertainment products will continue through our strong relationship with Microgame SpA.

Today’s launch comes after a highly successful kick-off presentation, in Rome, Italy on July 21, 2017, that attracted over 60 agents and operators from throughout Italy and other regulated European countries. The presentation, delivered by Company President, Alessandro Marcelli and VP of Land-based Operations, Franco Salvagnireceived immediate accolades from the audience and drew media coverage in most major European gaming news publications. Significantly, the Company signed up to 50 new agency locations, of which 30 are expected to come online by the end of fiscal 2017.

When completed, the additional agencies are projected to increase sports bet turnover from Italy facing operations by 40% Overall, Newgioco Group betting turnover is forecast to reach approximately $200 million for fiscal 2017, with revenues improving to approximately $20 million per year and an estimated 1% improvement in earnings margin.

“Our ELYS betting platform puts Newgioco firmly on the map of world-class gaming technology companies providing lottery and gaming products for government licensed gaming operators. We expect immediate operational and financial benefits, as well as extracting value for our shareholders from this cutting-edge gaming technology,” stated Company Chairman and CEO Michele Ciavarella.

In addition to a deep pipeline of available agency locations in Europe, we see a particularly strong opportunity in several regulated countries including the quickly liberalising market in various states throughout the United States and South America. Regulated leisure lottery and gaming is a proven revenue tool for governments seeking supplemental sources of capital for important infrastructure projects, health and education facilities, and a variety of other fiscal initiatives. Newgioco intends to be a lead consideration in their selection process for certified betting software and expertise.”