New look Newgioco establishes LatAm subsidiary

Fresh from listing its business as a US Nasdaq enterprise, the governance of betting systems supplier Newgioco Group confirms that it has established ‘Newgioco Colombia SAS’ as a new subsidiary servicing LatAm market opportunities.

Based out of Bogota, Newgioco Colombia will lead new distribution agreements within South American markets, supporting Newgioco Group’s newly established global growth strategy.

In its update, Newgioco governance confirms that it has begun the process of hiring regional experts, accelerating the group’s profile and presence within diverse LatAm markets.

Led by Chairman and CEO Michele Ciavarella, in 2019 Newgioco caught international headlines as the Italian heritage betting group repositioned its business as a US sports betting technology supplier.

Targeting South American partnerships,  Newgioco added it would leverage the talent of the company’s Odissea software development team to deliver new, market-leading virtual games and product technology.

Michele Ciavarella commented on developments: “The improved performance metrics of our latest generation virtual sports products have been developed to address an important value proposition for the sports betting business of casinos and private operators”

“We believe that this essential differentiator could result in the rapid adoption and global growth of our virtual sports products while expanding the deployment of our ELYS sportsbook technology in the US and global sports betting markets,

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