Stakes a claim on evolving US market
US betting technology firm, Newgioco Group, Inc. has launched its new Betting Platform Technology, ‘ELYS’, designed by Odissea Betriebsinformatik Beratung GmbH.
Following the platform’s successful launch on August 1, 2017, NewGioco’s sports betting operations are now processed in-house through ELYS while skill games, lottery, casino, poker and other entertainment products will continue through the Group’s existing relationship with Microgame SpA.
NewGioco’s launch presentation resulted in the sign up of 50 new European agency locations, of which thirty are expected to come online by the end of fiscal 2017, the company said.
“When completed, the additional agencies are projected to increase sports bet turnover from Italy facing operations by 40%. Overall, Newgioco Group betting turnover is forecast to reach approximately $200 million for fiscal 2017, with revenues improving to approximately $20 million per year and an estimated 1% improvement in earnings margin.”
NewGioco is eyeing strong opportunities in several regulated countries including “the quickly liberalising” market in various states throughout the United States and South America, saying it intends to be a lead consideration in US States’ selection process for certified betting software and expertise.
“Our ELYS betting platform puts Newgioco firmly on the map of world-class gaming technology companies providing lottery and gaming products for government licensed gaming operators,” Michele Ciavarella, chairman and chief executive officer of NewGioco, commented. “We expect immediate operational and financial benefits, as well as extracting value for our shareholders from this cutting-edge gaming technology.”
Online Casino News Courtesy of Infopowa
