Wall Street Signals: Removing Sharks from the Gambling Pools: @NWGI_Gaming CEO, Mike Ciavarella Explains the Plan on “StockDay”

Removing Sharks from the Gambling Pools: @NWGI_Gaming CEO, Mike Ciavarella Explains the Plan on “StockDay”

Mr. Everett Jolly, was excited to recently welcome first time guest Mr. Mike Ciavarella to the “Stock Day” podcast in order to share with the Uptick Newswire investment community the stock value potential.  Mr. Ciavarella is the Chairman and CEO of Newgioco Group, Inc. (NWGI) (the “Company”), a fully licensed online and land-based lottery and gaming operator in the gaming and entertainment industry.  Mr. Jolly recaps the Company’s previous revenues as follows: 2014 the company saw $1.7 million, 2015; $4.8 million, 2016; $8.9 million and 2017; $22 million.

Faced with the tough question regarding low profit margins, Mr. Ciavarella describes the Company’s inception and development into its current position.  The Company started the project in Italy and explains that while “profit has been lower than what we will see going forward because most of our development cost was self-funded”.  Mr. Ciavarella explains how this Company began with a profitable local gaming company in Italy, a model from which the Company has been developing upon.  Mr. Jolly brings up the previously released Company projection of $6.5 million in earnings for 2018, before taxes and depreciation, and asks about perceived growth potential.

In conclusion of the interview Mr. Ciavarella explains that gambling is not regulated in several countries, yet many of those same countries need to find other sources of tax based income.  He has experience with the functional model in Canada, where regulation of entertainment products such as leisure gaming can be a reliable revenue tool to capitalize on by liberalizing the gaming laws and therefore allowing for an entertainment tax in order to better fund infrastructure and governments.  Rather than outlawing the industry, governments can be better served by regulating and drawing a fair tax from the turnover.  This growing platform has already been very well received in the Italian market which has become one of the largest revenue sources for the federal government in Italy and from which Mr. Ciavarella intends to share in other countries as one of the growth drivers for Newgioco to capitalize into new markets.

In closing Mr. Ciavarella would like investors to look into the Company story: “What’s unique with our opportunity here … our Company is founded on family values, the founders are the majority shareholders and have an extremely strong and vested interest in the success of the Company.  We see a brilliant growth opportunity for investors and we have been delivering on our performance.”
About Newgioco Group, Inc.
Newgioco Group, Inc., together with its subsidiaries, is a fully integrated, licensed gaming technology company.  The company conducts its business primarily through retail neighborhood betting shops and internet-based betting software platform under the registered brand Newgioco through our licensed website www.newgioco.it situated in Italy.