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Newgioco Announces Q1 2020 Financial Results

Niji Narayan

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Newgioco Announces Q1 2020 Financial Results
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Newgioco Group has announced its operating and financial results for Q1 2020. The Company reported a strong quarter, in spite of global economic difficulties and shutdowns caused by COVID-19.

Newgioco reported a year over year increase in revenue from $9.3 million to $10.2 million generated from $116 million in turnover (betting handle) during Q1 2020 which represents an increase in revenue of 9.8% over Q1 2019. The growth in revenue may be attributed to the ongoing conversion to online and mobile gaming from the traditional land-based venues and the market adoption of Newgioco’s proprietary sports book solution.

“As a newly NASDAQ listed company during a global pandemic, I am proud of the Newgioco team. They have raised the bar not only from a product standpoint, but the financial team has demonstrated remarkable flexibility and elevated internal standards in terms of analytics and reporting procedures to provide more transparency and quite frankly better reporting metrics for our investors,” Mark Korb, CFO of Newgioco Group, said.

The Company saw a decrease of 11.8% in general and administrative expenses from $3.2 million to $2.8 million and a decrease in selling expenses of 16.1% from $7.4 million to $6.2 million for the year over year comparable quarters as result of a disciplined approach to reducing costs and trade show participation.

“Essentially this quarter reflects our commitment to return Newgioco operations to profitability after we made strategic changes to our board and executive management in June 2019. These necessary changes were the early building blocks for the execution of our U.S. go-to-market plans. Our Elys betting software is performing as effectively as it was designed for, and this has translated not only to substantial improvement in business metrics but also into acquisition and retention of new customers,” Michele (Mike) Ciavarella, CEO of Newgioco Group, said.

“Newgioco has one of the most modern and innovative sports betting value propositions in the market and we are now preparing to obtain GLI certification of our U.S. facing products. Our state-of-the-art technology stack is driving the innovation of managing risk on sports books and we expect to launch this unique alternative wagering system to U.S. operators in 2020. Newgioco has designed a user centric multi-channel solution that has the flexibility to serve throughout the U.S. from destination casino operators to franchise distribution networks such as sports bar and restaurant venues or convenience stores, kiosks and coffee shops,” he added.

Latest News

Betsoft Gaming Goes Back to the Future with Latest Release MILES BELLHOUSE AND THE GEARS OF TIME

Niji Narayan

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etsoft Gaming Goes Back to the Future with Latest Release MILES BELLHOUSE AND THE GEARS OF TIME
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Betsoft Gaming is going to launch its new game “Miles Bellhouse and the Gears of Time” next month.

The game showcases Steampunk themes and iterations of dynamic scientist, Miles, and his sidekick robot, Gizmo, at different ages. The action moves quickly but randomly: Past, Present, Future and back again – all can give you the chance to stay one jump ahead for untold pay-out potential. The game is slated for release on 5 November 2020.

Timepieces, aviator goggles, cogs and wheels – even Miles and Gizmo – are symbols and fly around the grid. Bronze coloured tubes emit blasts of steam, piercing whistles and blazing lights. ‘Brain waves’ literally flash across the screen to land on the squares, while an electrifying soundtrack adds to the excitement.

Using Betsoft’s renowned technical expertise, Miles Bellhouse and the Gears of Time delivers 5×5 reels where players can form winning clusters of symbols in a unique Cluster Pays system. With 1 or more Clusters on selected positions, you raise the chance of triggering the Time Travelling features – Past, Present and Future.

“Betsoft Gaming is renowned for the quality of its releases and Miles Bellhouse and the Gears of Time is no exception. The sequel is world class and is sure to be a hit with players. From gamification, theme, features and mechanics – the game shows that Betsoft continues to deliver to both our clients and players,” Kai Botha, Marketing Manager at Betsoft Gaming, said.

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Industry News

GameArt Joins Stakelogic’s Greenlogic Partner Programme

Niji Narayan

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GameArt Joins Stakelogic’s Greenlogic Partner Programme
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GameArt, the leading provider of high-quality digital gaming products, has partnered with Stakelogic to take advantage of its Greenlogic programme.

GameArt will now have access to over 500 operators worldwide through the Stakelogic developer’s partner platform, significantly boosting GameArt’s global presence and introducing their unique content to new markets.

Offering access to some of the biggest names in the industry, such as Kindred, Pokerstars, GVC and Betsson, the Greenlogic partner platform has already proven extremely popular and gained industry-wide recognition, attracting well established providers and some of the best up-and-coming studios to join its family.

“Our Greenlogic partner program has been an unparalleled success to date, and this is only emphasised by GameArt becoming the latest studio to sign on. It is our aim at Stakelogic to provide the very best gaming content available, either through our own talented in-house studio or via the impressive capabilities of independent studios who may be finding it hard to gain a foothold in such a competitive market place, or choose to fully focus on game development. GameArt is a stellar signing for Greenlogic and we look forward to working with their team for many years to come,” Stephen van den Oetelaar, CEO of Stakelogic, said.

“This is a pivotal moment in GameArt’s history and one which demonstrates the level of excellence our dedicated team have reached in the art of game development. Being able to offer our extensive library of games to even more operators across even more markets is a very exciting prospect, and one which we intend to grasp with both hands,” Stefano Picone, CEO of GameArt, said.

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eSports

Epic Esports Events invites streamers to collaborate

George Miller

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Epic Esports Events invites streamers to collaborate
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Epic Esports Events invites independent streamers to collaborate in the second season of EPIC League. The tournament organizers are also announcing recruitment of community casters for the official broadcasts of the season’s games.

Mark Averbukh, Epic Esports Events Product Director:

“Epic Esports Events is inseparable from the esports community. We are confident that the synergy between the EEE and the audience can deliver amazing results. We respect the work of independent streamers and we are certain that the community should have a choice in which voiceovers to watch the EPIC League. Therefore, we have developed a proposal which lets streamers comment with minimal delay, and we hope that many people will be interested.“

Independent streamers can broadcast EPIC League Season 2 content on their channels, subject to the following conditions:

  • No visual and voice advertising;

  • Every 60 minutes streamers are to post a link to the official broadcast of the event in the chatbot. For example: “Official broadcast is available on https://www.twitch.tv/dota2ruhub and https://www.twitch.tv/epicenter_en1”;

  • 15 minutes delay after the broadcast on Dota TV;

  • Using a unified broadcast name, e.g. “EPIC League TEAM1 vs TEAM2”*.

Community casters are also invited to collaborate. Pre-qualified community casters will be able to stream EPIC League matches with minimal latency, as well as receive tournament rewards.

Streamers interested in cooperation must fill out the form by November 2 and specify the most convenient format for them to work at the tournament. This offer is limited.

 

*The tournament organizer reserves the right to change / supplement the list of conditions after posting the appropriate notification on the website and social networks.

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