Under the Symbol:
Newgioco Announces Listing of Shares on The Nasdaq Stock Exchange
Thursday, December 26, 2019 4:15 PM
NEW YORK, NY / ACCESSWIRE / December 26, 2019 / Newgioco Group, Inc. ("Newgioco" or the "Company") (OTCQB:NWGI), a global sports betting and gaming technology company providing fully integrated software solutions to online and land-based sports betting and leisure gaming operators, is pleased to announce that its common stock will begin trading on the NASDAQ Capital Market effective with the opening of trading on December 27, 2019. The Company's common stock will continue to trade under the symbol "NWGID" until January 13, 2020 after which the symbol will be "NWGI".
The Company is one of the leaders in the tightly regulated Italian leisure betting market, operating a robust retail network of approximately 2,300 betting locations throughout Italy, and owns a highly differentiated proprietary betting technology platform colloquially known as Elys Gameboard ("Elys"). Elys, built from the ground-up on the latest Microsoft.Net Core framework, is a highly scalable and customisable omnichannel sportsbook engine designed to cope with the demands of today's betting operators and players. The Elys architecture allows management of bet risk of each transaction through online (PC and mobile) channels and at each land-based location from which a bet is placed and is intended to address the independent operator's ability to effectively compete against larger and more established franchise operators. With the repeal of the Professional and Amateur Sports Protection Act of 1992, the Company believes the United States market represents a large addressable market opportunity for its Elys betting platform.
"The listing of our common stock on the Nasdaq is a major milestone for the company and the result of approximately twenty years of dedicated business development in the regulated leisure betting industry. We believe that listing on the Nasdaq should broaden our shareholder base by attracting new investors, enhance Newgioco's visibility in the marketplace and liquidity of our stock, and ultimately, build long-term shareholder value," stated Michele (Mike) Ciavarella, Newgioco Chief Executive Officer. "I would like to extend our heartfelt appreciation to our legal teams at Gracin & Marlow, LLP and Beard Winter, LLP, that got behind our committed management and current board, for truly helping to make Newgioco a member of this prestigious, and globally trusted stock exchange."
About Newgioco Group, Inc.
Newgioco Group, Inc., is a global 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 in retail neighborhood betting shops throughout Italy.
Newgioco offers 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 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.
Investors may also find us on Facebook® and follow us on Twitter @NWGI_gaming.
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 regarding the Elys betting platform being able to cope with the demands of today's betting operators and players, the Elys architecture addressing the independent operator's ability to effectively compete against larger and more established franchise operators, the United States market representing a large addressable market opportunity for its Elys betting platform, and listing on the Nasdaq broadening our shareholder base by attracting new investors, enhancing Newgioco's visibility in the marketplace and liquidity of our stock, and ultimately, building long-term shareholder value. 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 the ability of the Elys betting platform to cope with the demands of today's betting operators and players, the ability of the Elys architecture to address the independent operator's ability to effectively compete against larger and more established franchise operators, our ability to expand into the United States market with our betting platform, our ability to broaden our shareholder base by attracting new investors, enhancing Newgioco's visibility in the marketplace and liquidity of our stock, and building long-term shareholder value, and the risk factors described in Newgioco's Annual Report on Form 10-K for the year ended December 31, 2018 and our 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:
Newgioco Group, Inc.
Michele Ciavarella, Chief Executive Officer
SOURCE: Newgioco Group, Inc.