Newgioco Group, Inc. (“Newgioco” or the “Company”) (Nasdaq: NWGI), a global sports betting and interactive gaming technology company providing a cutting-edge fully integrated, omni-channel sports betting technology, is pleased to announce that through its wholly owned subsidiary Multigioco Srl, the Company plans to install up to 400 new self-service point of sale locations throughout Italy with the launch of NGoy™ Virtual Operator terminals.
The Company has commenced installations with the first 100 NGoy (“Enjoy”) terminals to be operational in Italy by December 2020 and an additional 300 to be installed through 2021. Additionally, the Company intends to expand deployment of the NGoy terminal in other European countries that permit regulated sports betting.
The Newgioco design-built kiosk, commissioned under a previously announced agreement with VNE Produzione Srl., is an all-in-one self-service terminal that allows frictionless access to player gaming accounts for remote deposits and withdrawals along with the convenience of loading and re-loading of pre-paid cards, phone cards and a variety of other banking services including bill paying features.
“Our NGoy branded virtual operator terminal is a first of its kind and built to address market demand from our customers in Italy for reliable, seamless accessibility to their gaming accounts and to provide convenient ancillary services in a one-stop solution,” stated Alessandro Marcelli, VP of Operations of Newgioco Group. “At full capacity, we expect that each new terminal location could generate approximately $35,000 to $40,000 in gross gaming and other value added service revenues on an annual basis and believe that our NGoy terminal will provide a unique customer engagement edge as we expand into additional European and newly regulated U.S. markets.”
About Newgioco Group, Inc.
Newgioco Group, Inc., is a global leisure gaming technology company operating in 12 countries worldwide, with fully licensed online and land-based gaming operations in Italy. The Company’s innovative alternative wagering system services online operators, resort concept casinos, retail neighborhood betting establishments and franchise distribution networks.
Newgioco offers its clients a full suite of leisure gaming products and services, such as sports betting, esports, virtual sports, online casino, poker, bingo, interactive games and slots. 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 include statements regarding the installation of up to 400 new self-service point of sale locations, the first 100 NGoy terminals to be operational in Italy by December 2020 and an additional 300 to be installed through 2021, expanding deployment of the NGoy terminal in other European countries that permit regulated sports betting, each new terminal location potentially generating on an annual basis approximately $35,000 to $40,000 in gross gaming and other value added service revenues, and providing a unique customer engagement edge as we expand into additional European and newly regulated U.S. markets. 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, among others, our ability to successfully install up to 400 new self-service point of sale locations as planned, our ability to deploy the first 100 in Italy by December 2020 and an additional 300 through 2021, our ability to expand deployment of the NGoy terminal in other European countries that permit regulated sports betting, our ability to generate gross gaming and other value added service revenues from each new terminal location, our ability to have a unique customer engagement edge as we expand into additional European and newly regulated U.S. markets, the duration and scope of the COVID-19 outbreak worldwide, including the impact to the state and local economies, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes 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.