International edition
October 27, 2020

Odisseaa and Ulisse

Newgioco discloses Austria operations details

Newgioco discloses Austria operations details
The company that provides regulated online and offline gaming and wagering through licensed subsidies in Italy has revealed details regarding the recently announced acquisition of two key gaming operations based in Austria.
Austria | 08/26/2016

The company that provides regulated online and offline gaming and wagering through licensed subsidies in Italy has revealed details regarding the recently announced acquisition of two key gaming operations based in Austria.

O

n July 1, 2016, the company completed the acquisition of Odissea Betriebsinformatik Beratung Gmbh, a gaming software development company which owns and operates a proprietary betting platform and product development house which currently processes approximately $400 million in betting turnover on an annual basis. The Odissea betting platform, which is certified under both the Malta and Austrian gaming authorities, is a state-of-the-art gaming technology with an advanced, highly efficient software engine designed and managed by a qualified and experienced team of gaming engineers which become employees of Newgioco as a result of the acquisition. The company is now preparing to launch a new series of online games including Virtual Sports products.

Also on July 1, 2016,  Newgioco completed the acquisition of Ulisse Gmbh, a retail gaming distribution group which operates 107 'land-based' gaming agency locations throughout Italy. Ulisse management and staff will also join Newgioco to boost the rapid expansion of our operations in Italy. Ulisse currently operates the locations under a 50% revenue share agreement which produces approximately $1.8 million in net earnings on an annual basis.

With the integration of our in-house betting platform, the company expects to realise a cost savings of approximately 50% to our current online and land-based gaming network overhead and will further attain 100% of the revenue earned by the Ulisse land-based locations upon completion of the license renewal auction. The resulting effect of our 2 new divisions is projected to increase consolidated net earnings by approximately 400%.

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook