Newgioco Group has announced the launch of ‘ELYS’, the company’s latest betting platform technology.
The software platform, which went live at the start of August, processes sports betting operations in-house, while skill games, lottery, casino, poker and other entertainment products will continue through the firm’s ongoing relationship with Microgame.
Last month, Newgioco held a kick-off presentation in Rome, Italy, to showcase its new platform to more than 60 agents and operators from across the country and the wider European market.
Newgioco has now signed up to 50 new agency locations, 30 of which are due to come online before the end of the year.
Once this process is complete, Newgioco said the additional agencies will help to boost sports bet turnover from Italy-facing operations by 40%.
The company also said that betting turnover is forecast to reach approximately $200m (€170.2m), with revenue expected to improve by around $20m per year.
Michele Ciavarella, chairman and chief executive of Newgioco, said: “Our ELYS betting platform puts Newgioco firmly on the map of world-class gaming technology companies providing lottery and gaming products for government licensed gaming operators.
“We expect immediate operational and financial benefits, as well as extracting value for our shareholders from this cutting-edge gaming technology.
“In addition to a deep pipeline of available agency locations in Europe, we see a particularly strong opportunity in several regulated countries including the quickly liberalising market in various states throughout the United States and South America.
“Regulated leisure lottery and gaming is a proven revenue tool for governments seeking supplemental sources of capital for important infrastructure projects, health and education facilities, and a variety of other fiscal initiatives.”
Ciavarella added: “Newgioco intends to be a lead consideration in their selection process for certified betting software and expertise.”