Global sports betting and digital gaming technology company Newgioco Group announced the establishment of the Bogota-based Newgioco Colombia SAS to support its expanding operations in Central and South America.
The launch of the LatAm company coincides with the signing of several new South America distribution deals, forming alliances in anticipation of new South America regulatory standards and gaming laws such as those being established in Brazil.
The company reported that it is now in the process of selecting regional experts to execute its business plan for LatAm, that will include accelerating growth of its virtual sports product while placing its sportsbook technology as regulations in each country develop.
Newgioco will also aim to harness the expertise of its Odissea software development team to create new virtual games and product technologies that are market-leading. The intended outcome is a sound, economically reliable, virtual product that could theoretically level the sports bet vertical risk profile for distributed retail and online partners of the company. It would also suit the casino sportsbook operators.
Michele Ciavarella CEO said: “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.
“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 US and global sports betting markets.”