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TICKERS: NWGI

Gaming Tech Firm Doubles Retail Footprint in Italy in Six Months
News Update

Source:

The company's sports betting platform is enabling the rapid growth there.

Newgioco Group Inc. (NWGI:OTCQB) announced in a news release that in Q2/19 it added 509 locations in Italy to its network of retail betting shops, or webshops, taking the total in the country to 2,010.

Since the start of the 2019, this global sports betting and gaming technology company doubled its retail footprint and expanded marketshare in Italy. Driving the growth there is Newgioco's ELYS sports betting platform.

"Overall, we expect continued growth in our retail footprint and anticipate generating 2530% growth in handle for the full year," Vice President of Operations Alessandro Marcelli said in the release.

Newgioco CEO Michele (Mike) Ciavarella added that the company aims to operate in the United States as well. "We continue to leverage our solid footing in Italy and market experience as we seek to enter the U.S. market," he said.

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