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Newgioco Group continues to expand

ONLINE GAMBLING GROUP RECAPS RECENT ACHIEVEMENTS
 
Newgioco Group continues to expand.
 
Italy-facing online gambling operator Newgioco Group, Inc. (formerly the OTC-listed Empire Global Corp.) has issued an update on its recent achievements, presumably to maintain share price momentum.
 
The press statement details the companys acquisition of two Austrian entities - software development and platform provider Odissea Betriebsinformatik Beratung Gmbh, and retail gaming distribution group Ulisse Gmbh...both deals completed early July this year.
 
Newgioco boasts that the Odissea platform is certified by Malta and Austrian gaming authorities and currently processes approximately $400 million in betting turnover on an annual basis,
 
It has a proprietary software engine designed and managed by a qualified and experienced team of gaming engineers which has now joined Newgioco and will be deployed to prepare the launch of a new series of online games, including Virtual Sports products.
 
Ulisse employees have also been brought into the Newgioco fold; the company operates 107 land-based gaming agency locations throughout Italy under a 50 percent revenue share agreement which generates approximately $1.8 million in net earnings on an annual basis.
 
"With the integration of our in-house betting platform, the company expects to realize a cost savings of approximately 50 percent to our current online and land-based gaming network overhead and will further attain 100 percent of the revenue earned by the Ulisse land-based locations upon completion of the license renewal auction, the press statement advises. 
 
"The resulting effect of our 2 new divisions is projected to increase consolidated net earnings by approximately 400 percent."
 
The new acquisitions join other group subsidiaries Multigioco Srl and Rifa Srl. with a product and services line that includes sports betting, virtual sports, online casino, poker, bingo, interactive games and slots.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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