Newgioco has revealed that it will establish a subsidiary in Bogota, Colombia, to expand its operations in the region.
Colombia.- Sports betting and technology operator Newgioco Group has announced that it has formed a subsidiary in Colombia. The office and management team situated in Bogota has been established to expand the company’s operations in Central and South America.
The opening of the subsidiary coincides with the signing of several new distribution agreements in South America, establishing new partnerships with the goal of positioning the company for new regulatory guidelines in South America and new gaming laws such as those being developing in Brazil.
The recent contracts for the virtual sports product are expected to fit ideally with the company’s recently announced collaboration with HBG Group for distribution of the VG virtual games in Central America.
“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,” stated Michele (Mike) Ciavarella, Newgioco Chief Executive Officer. “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 U.S. and global sports betting markets.”