Newgioco Establishes US Operating Subsidiary

Newgioco Group, Inc. (“Newgioco” or the “Company”) (Nasdaq: NWGI), a global sports betting and interactive gaming technology company providing fully integrated, omni-channel sports betting software solutions, is pleased to announce that it has completed the formation of Elys Gameboard Technologies, LLC, a wholly owned subsidiary for the purpose of expanding the Company's sports betting operations throughout the US. The Company is in the process of seeking its first sports betting license in Washington, DC and anticipates launching its new US sports betting platform with its first US operator client, Handle 19, Inc., in the historic Capitol Hill area of Washington, DC by the third quarter of 2020.

The Company is currently coding its leading-edge Elys betting platform for US certification and will provide investors with timely updates as this key development progresses.

“As part of a long-term global expansion plan, Newgioco takes in a prudent and strategic approach for launching in new markets and we are executing our plan to enter into the US market in the same manner,” stated Michele (Mike) Ciavarella, Newgioco’s Chief Executive Officer. “Our 20 plus years of regulated sports betting experience, has taught us that long-term success in the US market means thorough planning and preparation before taking steps to deploy a product that will work properly in this market. We are thrilled with the progress of the Elys US development program and look forward to launching our platform in the very near future.”

About Newgioco Group, Inc.

Newgioco Group, Inc., is a global leisure gaming technology company, with fully licensed online and land-based gaming operations and innovative betting technology platforms that provide bet processing for casinos and other gaming operators. The Company conducts its business under the registered brand Newgioco primarily through its internet-based betting distribution network on its website, www.newgioco.it as well as in retail neighborhood betting shops throughout Italy.

Newgioco offers clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games and slots. Newgioco also owns and operates innovative betting platform software providing both B2B and B2C bet processing for casinos, sports betting and other online and land-based gaming operators. Additional information is available on our corporate website at www.newgiocogroup.com.