Under the Symbol:
Newgioco Group Signs Key Professional Poker Group
Wednesday, December 6, 2017 9:40 AM
NEW YORK, NY / ACCESSWIRE / December 6, 2017 / 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 that it has signed a key professional poker group to the Newgioco network from a leading competitor.
The signing brings over 300 players to our growing client registrations, generating approximately $500,000 per year in table rake (Poker GGR ("Gross Gaming Revenue")) representing an increase of 200% over 2016 and 10% on total GGR, driving significant improvement to Skill Games product contribution margin and increasing income in our non-sports bet vertical. The deal has significant intangible value as we welcome a highly respected and well-organized poker group to the Newgioco brand. As part of the agreement, Newgioco signed top-ranked professional player, Matthew Scuffi, to a brand ambassador sponsorship. Mathew will wear Newgioco colors at numerous national and international World Series of Poker International Circuit, PokerStars, and People's Poker tournaments and matches that are broadcast internationally on television and streaming online.
The deal marks a successful test of the Skill Game vertical on our betting Platform as Newgioco seeks entry into the strong US market with Skill Games being the primary driver behind online gaming regulation in several states.
"This very important deal is expected to result in drawing additional players from competitors as word spreads through the poker community about our powerful Odissea betting Platform," stated company President, Alessandro Marcelli. "In addition, we are extremely pleased to have a pro like Matthew accept our sponsorship offer, and believe that the exposure for the Newgioco brand across a broader international audience will add substantial value to our marketing and brand spend and will result in reduced customer acquisition costs as well as growing poker liquidity."
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.
ISOP is a trademark of Caesars Interactive Entertainment, Inc. World Series of Poker (WSOP) International Circuit; PokerStars is a trademark of The Stars Group, Inc.; Peoples Poker is a Trademark of Microgame Group, SpA. No permission was obtained to reference these independent enterprises in this News Release.
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 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.
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SOURCE: Newgioco Group, Inc.