Newgioco Group, a betting technology company providing regulated sports betting and leisure gaming products and services through licensed subsidiaries in Europe, is pleased to announce several key additions to its leadership and management team as it prepares to initiate its U.S. expansion strategy and to list its shares on the NASDAQ stock exchange.

Michele Ciavarella, CEO of Newgioco Group Inc. commented, “The collective strength and experience of the Newgioco management team and board of directors has greatly been improved with these additions. Each of the new appointees bring years of experience and skillsets which will be instrumental to the Company’s success as it looks to establish entry into the US sports betting market. I am absolutely delighted where Newgioco finds itself today, excited on executing on our growth strategy, and sincerely welcome our new team members to the Newgioco family.”

New Management Appointments:

Elizabeth J. MacLean, Vice President Finance and Accounting

Ms. MacLean has more than 20 years experience leading Finance teams in a variety of industries in both the United States and the United Kingdom. Notably, Elizabeth was the Global Lead for Financial Systems and Processes at Progressive Gaming International and brings her knowledge of Finance, Financial Systems, Analytics, and Process Improvement to Newgioco. She will be based in Phoenix, Arizona, and represents Newgioco’s first U.S.-based employee. Ms. MacLean holds a B.A. in Biology from the University of Chicago, and an MBA from Graduate School of Business at Stanford University with specialities in Statistics and Game Theory.

Ralph M. Garcea,Vice President Corporate and Business Development

Mr. Garcea brings more than 22 years experience in senior analyst positions at major domestic and international banks and brokerage firms. He is a top-ranked research analyst, well regarded for the depth and breadth of knowledge he brings to bear on his coverage of Canadian technology, gaming and industrial companies across a broad range of market capitalizations. Over the years, he has received top three rankings from Brendan Woods, Greenwich, Starmine and Thomson Reuters surveys. His previous coverage of the Stars Group (TSG-US), NYX Gaming (SGMS-US), Jackpotjoy (JPJ-LSE), Innova Gaming and Pollard Banknote (PBL-T), will be an invaluable asset working with management and the board in executing our global expansion strategy, with a focus on Italy and the U.S. sports betting markets. Mr. Garcea holds a Bachelor’s degree (Honours) in Engineering Science (Aerospace) from the University of Toronto and an M.B.A. (Honours) from the Schulich School of Business at York University.

Jay Cardwell, Interim Chief Financial Officer

Mr. Cardwell has over 30 years of C-Suite experience, specializing in both SEC financial reporting and tax compliance, financial reporting, mergers and acquisitions, international accounting and corporate development for organizations ranging from early stage projects to large multi-tiered international entities. Mr. Cardwell has been CPA licensed in the State of New York since 1986 and a graduate of Illinois State University in Accounting, Alumni Honoree.

Bill Mitoulas, Vice President of Communications and Investor Relations

Mr. Mitoulas brings 20 years of experience in financial product sales, marketing and investor relations. He has been the Principal of Venture North Capital Inc. since July 2011, a company providing corporate finance and capital markets consulting services to publicly listed companies. Mr. Mitoulas holds a Bachelor of Business Administration majoring in Finance from the University of Notre Dame.

Promotion to New Role:

Alessandro Marcelli, Chief Operating Officer

In addition to the aforementioned appointments, the Company has promoted Alessandro Marcelli to the role of Chief Operating Officer. Mr. Marcelli’s leadership as President has been exemplary and his contributions to the Company have been entirely essential to Newgioco’s growth in Europe to date. His extensive experience in the sports betting and leisure gaming industry will provide valuable insight as we continue to drive growth and execute on our international operational strategy.”

Newgioco further announces that, in conjunction with Mr. Marcelli’s appointment as COO, the Company is now considering the ideal candidate for the position of President to spearhead the next phase of its global growth initiatives.