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Newgioco Group, Inc. Appoints Elizabeth J. MacLean as Chief Financial Officer

NEW YORK, NY / ACCESSWIRE / December 5, 2018 / Newgioco Group, Inc. (NWGI), a company providing regulated online and land-based gaming and sports bet wagering through licensed subsidiaries in Italy and Austria, and headquartered in Toronto, Canada, today announced that Elizabeth J. (Betsy) MacLean has been appointed chief financial officer (CFO) and chief compliance officer (CCO). Ms. MacLean joined Newgioco in September 2018 as Vice President Finance and Accounting, and during this initial period she became acquainted with the operational and corporate financial structure of Newgioco in respect to both gaming operations in Europe as well as forecasting and budgeting for the Company's global expansion strategy.

Prior to joining Newgioco, Ms. MacLean had more than 20 years of experience leading Finance teams in a variety of industries in both the United States and the United Kingdom, including serving as Global Lead for Financial Systems and Processes at Progressive Gaming International. In addition to PhD coursework in Accounting, she holds an MBA from the Stanford Graduate School of Business with a specialty in Statistics and Game Theory as well as a B.A. in Biology from the University of Chicago. Ms. MacLean also brings to Newgioco deep experience in management processes including Kaizen and Lean Manufacturing training in Aerospace manufacturing. She is a certified Six Sigma Green Belt and is an instructor in Design for Six Sigma.

Michele (Mike) Ciavarella, CEO of Newgioco Group, stated ''we are very excited to have Betsy move into key stewardship roles as Newgioco takes another significant step in our corporate development and global strategy. Taking on these dual senior roles is no easy task, and Betsy's results-driven energy fits extremely well with our growth-focused culture. We believe her skillset complements our experienced management and her impressive, broad range of capabilities makes Betsy the right choice to lead our Finance strategy as we continue to deliver strong returns to our shareholders.''

"I am delighted to have had the opportunity to warm-up to the enthusiasm ingrained in the Newgioco family ahead of this exciting industry period," commented Ms. MacLean. ''I'm looking forward to the challenge of leading a Finance team that provides visibility to the financial health of the business and secondly, to align the Odissea B.I. team to harness the power of true Business Intelligence to get meaningful analysis into the hands of decision makers at the right time, and in the right context. Achieving this dual vision will be the key to Finance enabling Newgioco to accelerate its trajectory of profitable growth.''

About Newgioco Group, Inc.

Newgioco Group, Inc., together with its wholly-owned subsidiaries, is a fully licensed and integrated online and land-based leisure gaming operator. The Company conducts its business under the registered brand Newgioco primarily through its internet-based betting distribution network on its website, www.newgioco.it, as well as retail neighborhood betting shops situated throughout Italy.

The Company offers its clients a full suite of leisure gaming products and services, such as sports betting, virtual sports, online casino, poker, bingo, interactive games and slots, as well as owning and operating an innovative betting platform (www.odissea.at) providing both B2B and B2C bet processing. Additional information is available on our corporate website at www.newgiocogroup.com.

Cautionary Note Concerning Forward-Looking Information

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

For further information, please contact:

Darrow Associates, Inc.
Bernie Kilkelly
Tel: (516) 236-7007

Newgioco Group, Inc.
Bill Mitoulas
Investor Relations
Tel: (416) 479-9547

SOURCE: Newgioco Group, Inc.