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Newgioco Completes Acquisition of Virtual Generation Limited

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Accretive Acquisition Accelerates Global Expansion and Reinforces Portfolio of Market-Leading Gaming Technology Platforms

 

Newgioco Group, Inc., today announced that the Company has completed the acquisition of Virtual Generation Limited (“VG”), a leading developer of virtual gaming software, together with Naos Holding Limited, a private holding company (”Naos”), effective January 30, 2019 for approximately $4.5 million in a combination of cash and stock.

“Adding VG’s virtual gaming technology to our portfolio of innovative gaming technology platforms reinforces our industry-leading position in the leisure gaming market and instantaneously expands our global footprint from where Newgioco currently operates to include 12 new countries in South America, Central Asia and Africa where VG currently operates,” stated Michele (Mike) Ciavarella, Chief Executive Officer of Newgioco. “With virtually no overlap between the markets we each currently serve, we are creating additional revenue opportunities to cross-sell VG’s software and our own ELYS platform, diversify our revenues and strengthen our gaming platforms as we pursue the newly emerging U.S. sports betting market.”

Newgioco plans to utilize the VG platform for racing, keno, American Roulette and other casino games, within its ELYS platform. Simultaneously, Newgioco plans to introduce the VG product line into the regulated Italian market, utilizing Newgioco’s existing Italian ADM platform certification.

“We are intimately knowledgeable about the power of the assets we have purchased as VG’s platform has been operating on our ELYS platform for some time,” added Mr. Ciavarella. “We are eager to pursue and engage with customers on a number of near-term opportunities, including the tribal gaming market in the U.S. We expect this acquisition to be immediately accretive to our first quarter 2019 financial results.”

VG’s software is a random number generator (RNG) certified by Gaming Laboratories International (GLI) and includes a growing portfolio of products including horse racing and greyhound racing, league play football (soccer), keno and American roulette. VG currently operates in Italy, Albania, Turkey, Mexico, Peru, Paraguay, Nicaragua, Honduras, Colombia, Dominican Republic, Nigeria and Uganda.

 

Financial Details of the Transaction

The Company paid the sellers €4 million in consideration for all the ordinary shares of VG and Naos comprised of a cash payment of €108,000, the issuance of shares of the Company’s common stock valued at €89,000, a promissory note providing for the payment of (a) €2,392,000 in cash in 23 equal and consecutive monthly installments of €104,000 with the first payment due and payable one month after the Closing Date and €1,411,000 in shares of the Company’s common stock in 17 equal and consecutive monthly installments of €83,000 as determined by the average of the closing prices of such shares on the last 10 trading days immediately preceding the determination date of each monthly issuance, commencing on March 1, 2019.

In addition, the Company agreed to pay the Sellers as an earn-out payment in shares of the Company’s common stock within one month from the end of the business year 2019 equal to an aggregate amount of €500,000, if the amounts of bets made by the users through the VGS platform related to the 2019 fiscal year of the Company is at least 5% higher than the amounts of bets made by the users through the VGS platform related to the 2018 fiscal year of the Company.

About Virtual Generation Limited

Virtual Generation Ltd. is a software development company specializing in the production and distribution of highly advanced platforms for virtual betting. Virtual Generation uses advanced and complete betting management software, unsurpassed, flexible and customizable, adaptable to different types of companies and markets. VG was founded in 2014 and has grown from processing 67,000 bet tickets in its first year to over 20 million bet tickets in 2018 for its online and land-based B2B customers in 12 countries in Europe, Latin America and Africa.

About Newgioco Group, Inc.

Newgioco Group, Inc., headquartered in Toronto, Canada, is a vertically-integrated 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 retail neighborhood betting shops situated throughout Italy.

The Company offers its 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.

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 such as plans to utilize the proven VG platform for racing, keno, American Roulette and other casino games, within its ELYS platform, plans to introduce the VG product line into the regulated Italian market and the acquisition of VG being immediately accretive to Newgioco in 2019. 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 use the VG platform for racing, keno, American Roulette and other casino games, within its ELYS platform, our ability to introduce the VG product line into the regulated Italian market and  our ability to implement the VG acquisition so that it is immediately accretive to Newgioco in 2019, and the risk factors described in Newgioco’s Annual Report on Form 10-K and 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

SOURCE Newgioco Group, Inc.

 

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Newgioco Completes Acquisition of Virtual Generation Limited

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European Roulette powered by NSoft concurring wide audience

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NSoft has released Roulette to its customers: Sima Communication (Lesotho), CG Bet (Cameroon), Dominican Gaming Systems (DGS) and Izi Paryaj (Haiti).

European Roulette is the latest release of NSoft, award-winning betting software provider. Simplicity of the game and the fact that it is widely recognizable are excellent preconditions for the success and acceptance of the product by punters. For now, the game is available in retail and soon will be also available on other channels.

First customers to whom the NSoft´s Roulette was released are Africa-based operators Sima Communication and CG Bet as well as Dominican Gaming Systems (DGS) and Haiti´s Izi Paryaj.

NSoft has officially presented its Roulette at ICE London 2019. The usage of the latest technologies breathes new life into this well known and popular casino game. NSoft´s vision of Roulette goes along with great design, colorful visuals and eye catching graphics. Visualisation also includes statistics of the draws that are calculated on a daily basis.

It is a simple game that enables players to place bets on different markets. The possible betting options are defined as: bet on a single number, various groups of numbers, the colours red or black, whether the number is odd or even, or if the numbers are high or low.

NSoft is attending Betting on Football event in London  – feel free to book a meeting with our representatives’ trough sales@nsoft.com.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: European Roulette powered by NSoft concurring wide audience

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BCLC Awards Pollard Banknote 10-Year Contract Extension

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Pollard Banknote Limited is pleased to announce a significant ten-year extension to its instant ticket games and related services contract with the British Columbia Lottery Corporation (“BCLC”). Under this agreement, which commenced on February 1, 2019, Pollard Banknote will continue to serve BCLC as a supplier of instant ticket games through December 31, 2028.

This agreement extends the successful and more than 30-year relationship between Pollard Banknote and BCLC, during which time we have provided everything from game design and instant ticket production to marketing support and strategic planning services. Over the course of this partnership, Pollard Banknote has helped the lottery achieve steady sales growth, including a 33% increase in instant sales over the past five years, which well exceeds the Canadian average of 20% over the same period.

BCLC is recognized for its innovative and progressive approach to instant ticket products, launching tickets featuring many of Pollard Banknote’s industry-leading innovations, including Scratch FX®, Jumbo Pop n’ Play™, PlayBook® Mini, pouched games, and various specialty inks. BCLC’s adoption of novel game concepts is well suited to their commitment to strengthen their core games and expand their product offerings to meet the expectations of their growing customer base. For example, the Lottery and Pollard Banknote are currently collaborating on a dynamic new Crossword ticket that will feature an integrated digital game play component to extend player excitement.

“BCLC is a long-valued customer and we are exceptionally proud of the strong partnership we have cultivated. We work hard to help BCLC delight its players with eye-catching and innovative products, and we are happy to see the results of these efforts pay off with consistent sales growth.” said Doug Pollard, Co-Chief Executive Officer, Pollard Banknote. “This contract extension demonstrates the productive nature of our collaborative relationship, and we are excited for the opportunity to continue to work with BCLC for many more years to come.”

 

About Pollard Banknote:

Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, Schafer Systems retail merchandising solutions, and a full suite of digital offerings, ranging from game apps to comprehensive player engagement and iLottery solutions, including strategic marketing and management services. The company is a proven innovator and has decades of experience helping lotteries to maximize player engagement, sales, and proceeds for good causes. Pollard Banknote also provides pull-tab tickets, bingo paper, and its Diamond Game and Oasis-branded electronic ticket machines to charitable and other gaming markets in North America. Established in 1907, Pollard Banknote is owned approximately 67.5% by the Pollard family and 32.5% by public shareholders, and is publicly traded on the TSX (PBL). For more information, please visit our website at www.pollardbanknote.comhttp://www.pollardbanknote.com/.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BCLC Awards Pollard Banknote 10-Year Contract Extension

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Gaming Associates Europe Ltd approves Betinvest Lottery

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Gaming Associates Europe Limited, a reputable laboratory and accreditation agency in the UK, has approved the Betinvest’s new Lottery platform. With this certification, Betinvest can now supply its in-house Lottery solutions to both online and retail gaming operators in EU countries where local regulators do not require companies to carry out their own compliance checks.

“All of our games are developed in accordance with the applicable regulations and requirements. We are delighted to have been approved by Gaming Associates Europe Limited because the requirements that must be met to be granted UK certification are some of the most complicated. This confirms that our product is fair, secure, and has been tested to the appropriate standards,” commented the company’s VP of Business Development, Valentyn Kyrylenko.

Since becoming certified, Betinvest’s Lottery solutions have been integrated into the Stanleybet platform in Romania. Kyrylenko affirmed that the few first weeks of their cooperation have shown very impressive results and added, “Soon, the rest our games, such as Magic KENO, Roulette Lucky Wheel and Book of Six, will be certified too”.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gaming Associates Europe Ltd approves Betinvest Lottery

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