In this episode of CEOLIVE.TV we’re joined by Mr. Mike Ciavarella, Chairman, and CEO of Newgioco Group, ticker NWGI.
Newgioco is a leisure betting technology company providing regulated lottery and gaming products and services throughout licensed subsidiaries in Europe.
In this interview, Mr. Ciavarella discusses the company’s operations both here and in Europe as well as their cutting-edge technology platform for online betting.
He also discusses the company’s recently released financial results and reviews some of the highlights from that report including,
1. Cash reserves grew substantially from $1.68 million to $3.19 million;
2. Total Assets grew from approximately $7.15 million to $8.85 million;
3. GAAP revenue reached $13.1 million for the nine months ended September 30, 2017, compared to $5.88 million for the same period in 2016, an increase of 122.8%;
4. Non-GAAP transactional sales of betting turnover reached $150.4 million for the nine months ended September 30, 2017, an increase of 88.24% from $79.9 million over the same period in 2016.
About Newgioco Group, Inc.
Newgioco Group, Inc., together with its wholly-owned subsidiaries, is a fully integrated, licensed gaming technology company. The company conducts its business primarily through retail neighborhood betting shops and internet-based betting software platform under the registered brand Newgioco through our licensed website www.newgioco.it situated in 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, lottery, interactive games, and slots, as well as an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. Additional information is available on our corporate website at www.newgiocogroup.com.
This LIVETRADES.TV video interview contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company’s contracts, the Company’s ability to raise sufficient development and working capital, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.
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