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Empire Global Q1-2016 Report

Thursday May 12,2016 :  EMPIRE GLOBAL POSTS  A GOOD FIRST QUARTER
 
But tax and operational costs weigh on solid turnover gains.
 
Empire Global Corp., a provider of regulated online and offline gambling through its wholly owned ADM-licensed subsidiary Multigioco Srl, posted its Q1-2016 results Thursday highlighting:
 
* Land-based wagering turnover up 131.9 percent at $1,472,198 (from $634,810 in Q1-2015).
 
* Online wagering turnover up 57.9 percent to $26,463,158 (from $16,754,954 in Q1-2015).
 
* Aggregate Net Gaming Revenues up 42.3 percent to $1,747,186 (from $1,227,131 in Q1-2015).
 
However, the group recorded a consolidated net loss of $482,839 as a result of tax, operational and administration expenses that included allowances for bad debt as well as front-loaded non-recurring expenses incurred on investment in new locations, payment of loans, interest, commissions and professional fees, which managements expects will have a significantly lower impact through the rest of the year.
 
"We are now operating gaming functions on a stable and profitable run rate and are projecting 2016 revenues to exceed $6 million based on these positive trends," Management reported.
 
"Significantly, our land-based division performed 26.7 percent better than expected. With administration and operational infrastructure now stabilized, our priorities now focus on scaling up the high margin land-based division to over 100 locations with the imminent Italian gaming licence renewal in June 2016."
 
Michele Ciavarella, chairman and CEO, said: "Multigioco is now set up for bolt-on additions with plans to acquire at least 100 Land-based Rights at the government auction while our online division will continue to capitalize on the forced consolidation of unauthorized dotcom operators in Italy under our unique 2021 Online license.”
 
Empire Global Corp. and  its wholly owned subsidiaries, Multigioco Srl and Rifa Srl, conducts Italian business primarily through the group's internet-based gambling and sports betting platform under the registered brand Newgioco, along with growing operations in the licensed Italian betting shop sector.
 
Online activity includes operations in sports betting, online casino, poker, and bingo and interactive games.

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Gambling News :

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

Microgaming is set to release three exciting new games in March - Pollen Party will literally have players buzzing with excitement as the ground-breaking, 720 way variable reel online slot is brought to life in a unique honeycomb reel layout.

NBA Odds: Resurgent Clippers Face Warriors in Oakland - After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.

NBA Odds: New-Look Pelicans Host Rockets on Thursday - The New Orleans Pelicans just hosted the All-Star Game and saw their very own Anthony Davis win the MVP. But the celebration was brief because the next day, the Pelicans made a huge trade,

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

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