Agreement with HBG Latam expands Virtual Generation markets
NEW YORK, NY / ACCESSWIRE / December 11, 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 gaming and sports betting operators, is pleased to announce that through its wholly-owned subsidiary Virtual Generation Limited ("VG"), it has entered into an agreement with the HBG group ("HBG") for distribution of our VG virtual games in Central America.
VG has built a solid reputation for producing unique, regionally focused virtual sports games including indigenous virtual games for tribal markets in the U.S. that are currently in development. VG has established distribution channels in Colombia and other countries of Central and South America and we believe is well placed to deliver entertaining, feature-rich virtual sports games once the products are certified for sale through HBG's AquiJuego® brand based in Colombia which is expected to be completed by the end of 2019.
"We are very pleased to have established a relationship with HBG to distribute our virtual sports portfolio in Central and South America through their regional subsidiaries HBG Latam SAS," stated Michele (Mike) Ciavarella, Newgioco Chief Executive Officer. "We believe that the relationship with HBG will be an excellent addition to our current virtual sports retail distribution and expect that the deal may possibly result in a significant growth in our customer base across many borders in South America. Our VG products will be initially distributed through AquiJuego® in Colombia, and we look forward to working with their team on expanding our reach throughout the Americas."
About HBG
With over 15 years of experience, HBG is one of the largest Italian gaming operators, regulated by the Customs and Monopolies Agency. HBG currently operates approximately 18 bingo halls in the Italian market with over 6,000 seats, 945 New Slot ("AWP") and Videolottery (VLT) machines installed and a telematic network connecting over 24,000 AWP machines, spread over 7,400 locations with over 360 partner operators through its subsidiary HBG Connex S.p.A. in Italy. In June 2018, HBG Latam S.A.S. received a five-year license to offer online sports betting and casino games via its AquiJuego® brand in Columbia.
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.
Forward-Looking Statements
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 producing unique, regionally focused virtual sports games including indigenous virtual games for tribal markets in the U.S. that are currently in development, VG products being well placed to deliver entertaining, feature-rich virtual sports games, products being certified for sale by the end of 2019, and the relationship with HBG being an excellent addition to our virtual sports distribution and our expectation that the deal may possibly result in a significant growth in our customer base across many borders in South America. 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 our ability to produce unique, regionally focused virtual sports games including indigenous virtual games for tribal markets in the U.S. that are currently in development, to deliver entertaining, feature-rich virtual sports games, to certify our products for sale by the end of 2019, and the relationship with HBG being an excellent addition to our virtual sports distribution and our expectation that the deal may possibly result in a significant growth in our customer base across many borders in South America, 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
investor@newgiocogroup.com
SOURCE: Newgioco Group, Inc.
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