NEW YORK, NY / ACCESSWIRE / April 26, 2018 / Newgioco Group, Inc. (OTCQB: NWGI) ("Newgioco" or the "Company") a leisure betting technology company providing regulated lottery and gaming products and services through licensed subsidiaries based in Europe, is pleased to announce that it has submitted its formal application to list the Company's common stock on the NASDAQ Capital Market exchange.
Acceptance for listing Company shares is subject to approval, in part, based on the Company's ability to meet minimum NASDAQ listing requirements. While the Company intends to satisfy all of NASDAQ's listing criteria, no assurance can be given that its application will be approved. During the NASDAQ review process, the Company's common stock will continue to trade on the OTCQB under its current symbol, NWGI until May 15, 2018 unless extended thereafter. Furthermore, because of strong results of operations reported by the Company, our shares that trade under the symbol NWGI on the OTCQB market are no longer considered as a Penny Stock as defined by SEC Rule 240.3a51-1.
"Listing of our common stock to the NASDAQ Capital Market would represent the next major milestone in corporate development since initiating the Newgioco Group business in 2014," stated Company Chairman and CEO, Michele Ciavarella. "During our incubation stage, Newgioco has made significant strides to develop and stabilize stockholder value by becoming a vertically integrated, fully licensed leisure betting operator, while maintaining extensive quality and financial control procedures, corporate governance and maintaining consistent regulatory filings with the Securities and Exchange Commission. Listing of our common shares on the NASDAQ Capital Market could potentially provide access to a larger pool of capital, which is a key benefit in light of the substantial acquisition and growth opportunities in our $400 billion-dollar global leisure betting industry."
Mr. Ciavarella also remarked that "This major milestone could not have been accomplished in such an effective manner were it not for our highly committed founders and management, employees and dedicated professional service advisers. Our objectives going forward through 2018 and into 2019 is to continue to improve on our exceptional annual growth, which at times has exceeded 100% over the last four years. With the dynamic of regulatory changes and enacting of gaming regulations in the US and South America, we believe that, on the strength of our powerful, leading-edge Odissea betting platform, Newgioco will soon be recognized as an international industry leader."
About Newgioco Group, Inc.
Newgioco Group, Inc., together with its 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.
Investors may also find us on Facebook® and follow us on Twitter @NWGI_gaming.
Except for the historical information contained herein, this Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "forecast," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2016. One or more of these factors have affected, and in the future, could affect our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. Therefore, because of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.
Investor Relations Contact
Newgioco Group, Inc.
investor@newgiocogroup.com
SOURCE: Newgioco Group, Inc.