Newgioco Group opens unit in Columbia to service expanding Central and South America operations

Newgioco Group opens unit in Columbia to service expanding Central and South America operations

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Newgioco Group, Inc. (NASDAQ:NWGI) has announced the formation of Newgioco Columbia SAS in Bogota, Columbia to service its expanding operations in Central and South America. The global sports betting and interactive gaming technology company, which provides fully integrated, omni-channel sports betting software solutions, said the Bogota opening coincides with the signing of several new distribution agreements in South America, establishing new partnerships with the goal of positioning the company for new regulatory guidelines in the region and new gaming laws such as those being developing in Brazil. READ: Newgioco Group shares start trade on the Nasdaq Newgioco said the recent contracts for its virtual sports product are expected to fit ideally with the company's recently announced collaboration with HBG Group for distribution of the its VG virtual games in Central America. Further, in connection with these and other contracts, the company said it is now in the process of hiring regional experts to execute its Latin American business plan and “drive growth of our virtual sports product while positioning our sportsbook technology as regulations evolve in each country.” Through its fully integrated corporate structure, Newgioco added, it seeks to leverage the talent of the company's Odissea software development team to produce new, market-leading virtual games and product technology. Michele Ciavarella, Newgioco’s chief executive officer commented: “The improved performance metrics of our latest generation virtual sports products have been developed to address an important value proposition for the sports betting business of casinos and private operators" "We believe that this essential differentiator could result in the rapid adoption and global growth of our virtual sports products while expanding the deployment of our ELYS sportsbook technology in the US and global sports betting markets," he added.

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