Newgioco records 96% YTD increase in online poker betting and gains market share

Newgioco Group, Inc, provider of regulated online and land-based gaming and wagering through licensed subsidiaries in Italy and Austria, and headquartered in Canada, has reported that gambling, betting, and gaming news agency AGIMEG - Agenzia Giornalistica sul Mercato del Gioco shows a surge in Newgioco online poker betting turnover resulting in significantly improved market share.

Strong online poker turnover and market share growth

Newgioco Group, through its wholly-owned subsidiary Multigioco, continues its accelerating growth trend in fiscal year 2018 with online poker betting in Italy gaining significant ground. Multigioco reported online poker turnover growing by 96% since January 2018. AGIMEG also reports that Multigioco has increased its market share to 4.17% in October 2018 (from 2.4% in July 2018).

"Newgioco Group has made considerable progress since announcing the online poker strategy in December 2017, among the numerous highlights we recently announced, the company has signed several additional retail locations, significantly strengthened its roll out plan in the rapidly developing U.S. sports betting market, filled key executive and board positions and more than doubled its betting handle. The online poker strategy has performed extremely well with our subsidiary Multigioco now ranked 6th in poker betting turnover in the Italian gaming market," stated Michele Ciavarella, CEO of Newgioco. "In addition, our powerful ELYS betting platform continues to attract a considerable number of new operators throughout Italy and has consistently delivered outstanding financial and operational results. We are quite confident that the steady expansion of Newgioco's sports betting business in Italy and the entry in the U.S. market will reflect in our continued revenue growth and strong shareholder value."