Newgioco seeks new president to drive US launch

Newgioco is on the lookout for a new president to spearhead its US launch after Alessandro Marcelli switched to the role of chief operating officer.

The betting technology company, founded in Italy, has added a quartet of industry veterans tasked with helping it establish entry into the US sports betting market.

The company, which is also preparing to float on the NASDAQ, has also taken the decision to move industry veteran Marcelli from president to the COO position, citing a switch in focus from Europe to the US.

Newgioco said in a statement: “The company is now considering the ideal candidate for the position of president to spearhead the next phase of its global growth initiatives.”

Newgioco has not outlined a timeframe for the appointment of the new president.

Former Progressive Gaming International executive Elizabeth MacLean has become vice-president of finance and accounting, while Ralph Garcea, once of The Stars Group, NYX Gaming and Jackpotjoy, takes the role of vice-president for corporate and business development. Jay Cardwell, interim chief financial officer, and Bill Mitoulas, vice-president of communications and investor relations, complete the new recruits.

Michele Ciavarella, CEO of Newgioco, said: “Each of the new appointees bring years of experience and skillsets which will be instrumental to the company's success as it looks to establish entry into the US sports betting market.”

Newgioco in April reported a 90% year-on-year increase in online sales for the opening quarter of the year. The company’s online sales channel, operated through its Multigioco subsidiary, generated $45.8m (€37m) in the three-month period, up from $24m in the first quarter of last year.

In June it said non-GAAP betting turnover growth for the first two months of Q2 was up 70% year-on-year to approximately $67m. Combined online and retail sports bets grew by almost 50% to $32m.

Image: Jo_Johnston