Duyuru • May 08
An undisclosed buyer agreed to acquire Multigioco Srl from Elys BMG Group, Inc. (OTCPK:ELYS). An undisclosed buyer agreed to acquire Multigioco Srl from Elys BMG Group, Inc. (OTCPK:ELYS) on April 30, 2024. The agreement shall be effective upon the certification by a Notary in Italy and is subject to regulatory approvals from the Agenzia delle Dogane e dei Monopoli (“ADM”) and the Italian antitrust competition agency Autorità Garante della Concorrenza e del Mercato (“AGCM”), as well as the fulfillment of certain other conditions precedent set forth in the agreement. Duyuru • Apr 03
Elys BMG Group, Inc. announced delayed annual 10-K filing On 04/02/2024, Elys BMG Group, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Nov 17
Elys Game Technology, Corp. announced delayed 10-Q filing On 11/15/2023, Elys Game Technology, Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Oct 28
Elys Game Technology, Corp., Annual General Meeting, Nov 09, 2023 Elys Game Technology, Corp., Annual General Meeting, Nov 09, 2023, at 10:00 US Eastern Standard Time. Location: the Company headquarters situated at the offices of Beard Winter LLP, Suite 701, 130 Adelaide St. W Toronto Ontario Canada Agenda: To elect the five nominees for director named herein to our Board of Directors (the “Board” or “Board of Directors”) to hold office until our next annual meeting of stockholders and until their successors are duly elected and qualified; to ratify the appointment of BDO AG as our independent registered public accounting firm for our fiscal year ending on December 31, 2023; to approve an amendment to our 2018 Equity Incentive Plan to increase the number of shares of common stock that we will have authority to grant under the plan by an additional 12,000,000 shares of common stock; and to consider other matters. Duyuru • Oct 19
Elys Game Technology, Corp.(OTCPK:ELYS) dropped from S&P TMI Index Elys Game Technology, Corp.(OTCPK:ELYS) dropped from S&P TMI Index Reported Earnings • Aug 15
Second quarter 2023 earnings released: US$0.10 loss per share (vs US$0.16 loss in 2Q 2022) Second quarter 2023 results: US$0.10 loss per share (improved from US$0.16 loss in 2Q 2022). Revenue: US$11.3m (up 9.6% from 2Q 2022). Net loss: US$3.55m (loss narrowed 7.0% from 2Q 2022). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Duyuru • Aug 01
Elys Game Technology Receives Non-Compliance Notice From Nasdaq As previously reported, Elys Game Technology, Corp. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on July 25, 2022, stating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Rule”) because the Company’s common stock failed to maintain a minimum closing bid price of $1.00 for 30 consecutive trading days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was afforded an initial period of 180 calendar days, or until January 23, 2023, to regain compliance with the Minimum Bid Price Rule. On January 17, 2023, the Company delivered to Listing Qualifications Department of Nasdaq a confidential plan to cure the deficiency within the second compliance period. On January 24, 2023, the Listing Qualifications Department of Nasdaq sent the Company a second notice, indicating that the Company was eligible for an additional 180 period, or until July 24, 2023, in which to regain compliance. The Company was unable to regain compliance with Minimum Bid Price Rule prior to the expiration of the second 180 calendar day period. On July 25, 2023, the Company received written notice (the “Notice”) from Nasdaq stating that the Company has not complied with the Minimum Bid Price Rule. The Notice indicated that the Company’s common stock would be suspended from trading on Nasdaq unless the Company requests a hearing before a hearings panel by August 1, 2023. The Company intends to timely request a hearing, which will stay any trading suspension of the Company’s common stock until completion of the Nasdaq hearing process and expiration of any additional extension period granted by the panel following the hearing. The Company expects the hearing to be held within 45 days of the Company’s request for the hearing, pursuant to the Nasdaq Listing Rules. At or prior to the hearing, the Company intends to present its plans to Nasdaq to regain compliance with the Minimum Bid Price Rule and request an extension of time to allow the Company’s Board of Directors and management to effect a reverse stock split. In anticipation of the appeal, the Company intends filing a preliminary proxy statement with the U.S. Securities and Exchange Commission relating to a proposal to approve an amendment to the Company’s Second Amended and Restated Certificate of Incorporation to, at the discretion of the Company’s Board of Directors, effect a reverse stock split with respect to the issued and outstanding common stock at a ratio of 1-for-2 to 1-for-1000, with the ratio to be determined at the discretion of the Board of Directors and included in a public announcement (the “Reverse Split”). There continues to be no immediate effect on the listing of the Company’s common stock, which continues to trade on The Nasdaq Capital Market under the symbol “ELYS.” The Company is working diligently to satisfy, and intends to regain compliance with, the Minimum Bid Price Rule. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Rule prior to the hearing date or at all or that Nasdaq will grant the Company an extension of time to achieve compliance with the Minimum Bid Price Rule. The Company intends to continue to monitor its closing bid price for its common stock and will continue considering all available options to comply with the Minimum Bid Price Rule as may be necessary. Duyuru • May 16
Elys Game Technology, Corp. announced delayed 10-Q filing On 05/15/2023, Elys Game Technology, Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Apr 18
Full year 2022 earnings released: US$0.69 loss per share (vs US$0.67 loss in FY 2021) Full year 2022 results: US$0.69 loss per share (further deteriorated from US$0.67 loss in FY 2021). Revenue: US$42.7m (down 6.3% from FY 2021). Net loss: US$18.3m (loss widened 21% from FY 2021). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Hospitality industry in Germany. Duyuru • Feb 08
Elys Game Technology, Corp. Obtains GLI-33 and GLI-20 Platform Certification for Operational Deployment in Ohio Elys Game Technology, Corp. has received Gaming Labs International (GLI) certification to the GLI 20 v.2.0: Standards for Kiosks and GLI-33 v1.1: Event Wagering Systems standards for the self-service betting terminal (“SSBT” or “kiosk”) operation of its Elys sports betting platform in accordance with the testing, inspection and compliance standards of the Ohio Casino Control Commission (“OCCC”). SSBT’s are key to the retail or land-based sports betting market, which is a focal point of Elys’ initial U.S. implementation strategy. The retail sports betting market, outside of brick-and-mortar casino operations, is a largely under-served market which complements existing revenue sources for post-pandemic challenged businesses such as neighborhood restaurants and bars, which can offer socially interactive gaming opportunities to their patrons through licensed hosts in the state of Ohio, and where permitted in future, potentially a wide array of other hospitality establishments throughout the U.S. Duyuru • Feb 04
Elys Game Technology, Corp. (NasdaqCM:ELYS) acquired 100% stake in Engage It Services Srl for €1.08 million. Elys Game Technology, Corp. (NasdaqCM:ELYS) agreed to acquire 100% stake in Engage It Services Srl for €1.08 million on January 29, 2023. Pursuant to the Agreement, Elys will issue approximately 3,018,462 shares of common stock (“Shares”), valued at €1.08 million, which purchase price may be increased or decreased dependent upon the net financial position of Engage as determined by due diligence, on or prior to June 30, 2023. Subject to the repurchase option set forth in the Agreement, the Sellers will be restricted from disposing of the Shares for 36 months and the Company may repurchase the Shares issued for €1.08 million in cash up to June 30, 2023. The current Engage and Elys leadership and management team will remain in their current roles and their interest are aligned with that of our shareholders due to the equity nature of this transaction. Engage employs 30 experts.
Elys Game Technology, Corp. (NasdaqCM:ELYS) completed the acquisition of 100% stake in Engage It Services Srl on February 2, 2023. Duyuru • Jan 26
Elys Game Technology Receives Written Notification from Nasdaq As previously reported, on July 25, 2022, Elys Game Technology Corp. received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that for the preceding 30 consecutive business days (June 9, 2022 through July 22, 2022), the Company's common stock did not maintain a minimum closing bid price of $1.00 (Minimum Bid Price Requirement") per share as required by Nasdaq Listing Rule 5550(a)(2). The Company was provided 180 calendar days, or until January 23, 2023, to regain compliance. The Company did not regain compliance with the Minimum Bid Price Requirement by January 23, 2023; however, on January 24, 2023, the Company received written notification from Nasdaq granting the Company's request for a 180-day extension to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved automatically and without further action if the closing bid price of the Company's common stock is at or above $1.00 for a minimum of ten consecutive business days at any time prior to July 24, 2023, Nasdaq will notify the Company that it has regained compliance with the Minimum Bid Price Requirement and the matter will be closed. If the Company does not regain compliance with the Minimum Bid Price Requirement by July 24, 2023, Nasdaq will provide written notification to the Company that its common stock will be delisted. At that time, the Company may appeal the relevant delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the hearings panel, that such appeal would be successful. The Company intends to actively monitor the bid price of its common stock and will consider available options to regain compliance with the Nasdaq listing requirements, including such actions as effecting a reverse stock split to maintain its Nasdaq listing. Nasdaq's extension otice has no immediate effect on the listing or trading of the Company's common stock, which will continue to trade on the Nasdaq Capital Market under the symbol ELYS". Duyuru • Dec 06
Elys Game Technology, Corp., Annual General Meeting, Dec 30, 2022 Elys Game Technology, Corp., Annual General Meeting, Dec 30, 2022, at 08:00 US Eastern Standard Time. Location: Multigioco Srl, Villa Cavalletti, Via 24 Maggio, 73, 00046 Grottaferrata Rome Italy Agenda: To elect the five nominees for director named herein to our Board of Directors to hold office until next annual meeting of stockholders and until their successors are duly elected and qualified; to ratify the appointment of BDO AG as our independent registered public accounting firm for fiscal year ending on December 31, 2022; to approve an amendment to 2018 Equity Incentive Plan to increase the number of shares of common stock that will have authority to grant under the plan by an additional 9,000,000 shares of common stock; and to discuss other matters. Duyuru • Nov 24
Elys Game Technology, Corp. Receives Conditional Approval for Type C Sports Gaming Proprietor Licensure from the Ohio Casino Control Commission Elys Game Technology, Corp. announced that on November 16th the Company was granted conditional approval for Type C sports gaming proprietor licensure from the Ohio Casino Control Commission for a period of 5 years effective January 1, 2023. The commencement of betting transactions in Ohio is subject to obtaining all further required certifications and licensing, and is conditioned upon the payment of license fees, ongoing proprietor suitability and continuous maintenance of compliance requirements of the OCCC for the duration of the license. The Company has commenced programming of its technology platform to comply with betting compliance specifications of the Ohio Lottery and has entered into an agreement to purchase 100 point of sale terminals and 100 self-service betting terminals for installation at host locations throughout Ohio. The Company is committed to processing any further requirements and certifications to commence operations as soon as practicable, and to providing the best possible product for sports bettors and for its host operators in Ohio. Reported Earnings • Nov 17
Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.15 loss in 3Q 2021) Third quarter 2022 results: US$0.14 loss per share. Revenue: US$9.59m (up 19% from 3Q 2021). Net loss: US$3.82m (loss widened 8.8% from 3Q 2021). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Hospitality industry in Germany. Breakeven Date Change • Nov 16
No longer forecast to breakeven The 2 analysts covering Elys Game Technology no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$179.5k in 2023. New consensus forecast suggests the company will make a loss of US$914.7k in 2023. Duyuru • Oct 19
Elys Game Technology, Corp., Annual General Meeting, Nov 21, 2022 Elys Game Technology, Corp., Annual General Meeting, Nov 21, 2022, at 10:00 US Eastern Standard Time. Location: The Ocean Casino Resort, 500 Boardwalk, Atlantic City, NJ 08401 New Jersey United States Agenda: To elect the five nominees for director named herein to board of directors to hold office until next annual meeting of stockholders and until their successors are duly elected and qualified; to ratify the appointment of bdo ag as independent registered public accounting firm for fiscal year ending on December 31, 2022; to approve an amendment to 2018 equity incentive plan to increase the number of shares of common stock that we will have authority to grant under the plan by an additional 9,000,000 shares of common stock; and to consider other matters if any. Duyuru • Sep 28
Elys Game Technology, Corp. Receives J.V. Approval by the DC Department of Small & Local Business Development for Its Planned Sportsbook At the Ozio Lounge in Washington, DC Elys Game Technology, Corp. announced approval by the DC Department of Small & Local Business Development (DSLBD) of the BetDupont, LLC (BetDupont) Certified Business Enterprise Joint Venture (CBEJV) between the Company and District Hospitality, LLC (District Hospitality) in Washington, DC. This approval follows the previously announced sportsbook partnership with District Hospitality, which operates the Ozio Lounge located at 1813 M St. NW in Washington D.C. The agreement has an initial term of three years from the date of issuance of the license with a minimum of two anticipated extensions of 2 years each. Subject to regulatory approval of the DC Office of Lottery and Gaming (DCOLG), the BetDupont CBEJV would allow the Company to operate the third location in Washington, DC for its white label sportsbook solution at the Ozio Lounge. Following the launch of its small business strategy, Elys has already placed its sportsbook solution at the Grand Central Restaurant and Sportsbook and expects to receive regulatory approval to open its second sportsbook operation at the Cloakroom Gentlemen’s Club under the Cloakbook brand situated at 476 K St NW, in Washington, DC. In April 2022, the Company also announced its CBEJV with AllBets Inc., and in June 2022, the Company announced its fourth planned sportsbook location at the Entitlement Restaurant and Lounge in Washington, DC, both of which are pending approval by the DSLBD. The Ozio Lounge is situated in the prestigious Dupont Circle area of Washington, DC, and is a chic lounge bar featuring table and cigar service and a full-service Mediterranean/American fusion dining experience. The location is heralded as one of Washington’s premiere lounges easily accessible from all areas of DC, Maryland and Virginia. Recent Insider Transactions • Sep 09
Executive Chairman recently bought €60k worth of stock On the 6th of September, Michele Ciavarella bought around 103k shares on-market at roughly €0.58 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Michele has been a buyer over the last 12 months, purchasing a net total of €780k worth in shares. Reported Earnings • Aug 17
Second quarter 2022 earnings released: US$0.16 loss per share (vs US$0.13 loss in 2Q 2021) Second quarter 2022 results: US$0.16 loss per share (down from US$0.13 loss in 2Q 2021). Revenue: US$10.3m (down 12% from 2Q 2021). Net loss: US$3.82m (loss widened 38% from 2Q 2021). Over the next year, revenue is forecast to grow 47%, compared to a 675% growth forecast for the Hospitality industry in Germany. Board Change • Jul 31
High number of new directors Independent Director Vic Salerno was the last director to join the board, commencing their role in 2021. Duyuru • Jul 26
Elys Game Technology Receives Non-Compliance Letter from Nasdaq On July 25, 2022, Elys Game Technology Corp. (the Company") received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (Nasdaq") notifying the Company that for the preceding 30 consecutive business days (June 9, 2022 through July 22, 2022), the Company's common stock did not maintain a minimum closing bid price of $1.00 (Minimum Bid Price Requirement") per share as required by Nasdaq Listing Rule 5550(a)(2). The notice has no immediate effect on the listing or trading of the Company's common stock and the common stock will continue to trade on The Nasdaq Capital Market under the symbol ELYS." In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days, or until January 23, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved automatically and without further action if the closing bid price of the Company's stock is at or above $1.00 for a minimum of ten consecutive business days at any time during the 180-day compliance period, in which case Nasdaq will notify the Company of its compliance and the matter will be closed. If, however, the Company does not achieve compliance with the Minimum Bid Price Requirement by January 23, 2023, the Company may be eligible for additional time to comply. In order to be eligible for such additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and must notify Nasdaq in writing of its intention to cure the deficiency during the second compliance period. The Company intends to actively monitor the bid price of its common stock and will consider available options to regain compliance with the Nasdaq listing requirements, including such actions as effecting a reverse stock split to maintain its Nasdaq listing. Board Change • Jul 01
High number of new directors Independent Director Vic Salerno was the last director to join the board, commencing their role in 2021. Duyuru • Jun 18
Elys Game Technology, Corp. announced that it has received $3 million in funding On June 17, 2022, Elys Game Technology, Corp. closed the transaction. The transaction included participation from a single investor. Duyuru • Apr 14
Elys Game Technology, Corp. Appoints Sandy Drozd to Head the U.S. and Canadian Technology Deployments Elys Game Technology, Corp. announced the hiring of industry leader Sandy Drozd to head the Company’s U.S. and Canadian technology deployments. Ms. Drozd has expert knowledge of sports wagering product design and implementation, as well as multi-state sports gaming compliance and regulations, audit processes, system operation, and unparalleled knowledge of modern technology stacks, and program management. Duyuru • Apr 01
Elys Game Technology, Corp. announced delayed annual 10-K filing On 03/31/2022, Elys Game Technology, Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Mar 29
Elys Game Technology, Corp. Provides Revenue Guidance for the Fiscal Year Ended December 31, 2021 Elys Game Technology, Corp. provided revenue guidance for the fiscal year ended December 31, 2021. For the year, the company expected revenues to increase by approximately 22% to approximately $45.5 million, subject to final audit verification, compared to approximately $37.3 million for the fiscal year ended December 31, 2020. Breakeven Date Change • Dec 26
Forecast to breakeven in 2023 The 4 analysts covering Elys Game Technology expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 44% per year to 2022. The company is expected to make a profit of US$8.10m in 2023. Average annual earnings growth of 97% is required to achieve expected profit on schedule. Duyuru • Apr 03
Elys Game Technology, Corp. announced delayed annual 10-K filing On 04/01/2021, Elys Game Technology, Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Duyuru • Feb 24
Elys Game Technology Extends Partnership with Sportradar to Provide Live U.S. Sports Data on Its Betting Platform Elys Game Technology, Corp. announced that it extended its strategic partnership with Sportradar, the leading global provider of sports betting and sports entertainment products and services, ahead of the launch of its sports betting platform in the U.S. Under the terms of the new agreement, Elys will gain access to official pre-game and in-play data for major U.S. sports from Sportradar. This new partnership affords Elys the ability to offer a wide array of live, in-game wagering options at its planned future U.S. retail sports betting locations, commencing in Washington DC, which is expected to launch in the coming months. Duyuru • Jan 06
Elys Game Technology, Corp. Appoints Michele Ciavarella as the Executive Chairman Effective December 30, 2020, the board of directors of Elys Game Technology, Corp. appointed Michele Ciavarella as the Executive Chairman. Mr. Ciavarella resigned as Chief Executive Officer, effective December 30, 2020, to allow Mr. Monteverdi to assume that role. Mr. Monteverdi has served as the Company's President since September 21, 2020 and will retain that position. Mr. Ciavarella (age 58) served as the Company's Chief Executive Officer since June 2011, serves as a member of the Company's Board since June 2011 and has served as the Company's Chairman of the Board since June 26, 2019. Duyuru • Nov 26
Elys Game Technology, Corp. Announces the Appointment of Matteo Monteverdi as Chief Executive Officer, Effective January 1, 2021 Elys Game Technology, Corp. announced the appointment of Matteo Monteverdi as Chief Executive Officer, effective January 1, 2021. Mr. Monteverdi served as an independent strategic advisor to the Company since March 2020, and in September 2020 was appointed President. Michele Ciavarella will continue in his current role as Executive Chairman of the Company. Matteo has been leading world-class B2B and B2C teams in the technology and digital industry for over 20 years between Silicon Valley and Boston. He spent the last decade of his career at the intersection of social gaming, digital betting, i-gaming and media working for international organizations in high growth segments. Prior to joining Elys, Mr. Monteverdi served as the US President of Sportradar, a global leader in real-time sports data and analytics, where he led the strategic direction of the company in the newly regulated US betting market. He was a key contributor in signing exclusive distribution deals with the NBA, NFL and MLB while turning around the company’s US media products and business. From 2015 to 2018, he served as SVP Global Digital Products for International Gaming Technology, where he led the real money and social gaming global businesses. Mr. Monteverdi played a pivotal role in the $6 billion acquisition of IGT by GTECH by integrating and accelerating the combined digital businesses, positioning the new organization as the prime digital gaming B2B player in US. Duyuru • Nov 20
Elys Game Technology, Corp. to Report Q3, 2020 Results on Nov 19, 2020 Elys Game Technology, Corp. announced that they will report Q3, 2020 results on Nov 19, 2020 Duyuru • Nov 17
Elys Game Technology, Corp. announced delayed 10-Q filing On 11/16/2020, Elys Game Technology, Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Oct 06
Newgioco Group, Inc. Announces Board and Committee Changes On October 1, 2020, the board of directors of Newgioco Group, Inc. accepted the resignation of Richard Cooper as a director and appointed Philippe Blanc to serve as a member of the Board and fill the vacancy created by Mr. Cooper’s resignation. The appointment of Mr. Blanc, which is effective immediately, means that the size of the Board will remain at five members. Mr. Blanc will serve on the audit committee and his term as a director will continue until such time as his successor is duly elected and qualified, or until his earlier resignation or removal. Mr. Cooper’s resignation was not a result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Duyuru • Sep 24
Newgioco Group, Inc. Appoints Matteo Monteverdi as President Effective September 21, 2020, the board of directors of Newgioco Group, Inc. appointed Matteo Monteverdi as President of the Company. Mr. Monteverdi has extensive industry leadership experience, having served as U.S. President of Sportradar from April 2018 to February 2020, and as IGT Senior Vice President of Global Digital Products from 2015 to 2018. Previously from 2012 to 2015 he was GTECH Senior Vice President of iGaming. He also served as President of Lottomatica Betting and Interactive from 2010 to 2012. Mr. Monteverdi has previously served as an independent strategic advisor to the Company since March 2020 and has developed a firm understanding of the unique technological capabilities of the Company’s Elys betting platform and has established a strong rapport with the Company’s current management team. Duyuru • Aug 15
Newgioco Group, Inc. announced delayed 10-Q filing On 08/14/2020, Newgioco Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Aug 13
Newgioco Group, Inc. has completed a Composite Units Offering in the amount of $9.999998 million. Newgioco Group, Inc. has completed a Composite Units Offering in the amount of $9.999998 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 4,166,666
Price\Range: $2.4 Duyuru • Jul 09
Newgioco Group Receives Notification from Nasdaq Regarding Delayed Quarterly Report on Form 10-Q Newgioco Group, Inc. announced that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on July 2, 2020, indicating that, as a result of the Company’s delay in filing its Quarterly Report on Form 10-Q for the three months ended March 31, 2020 (the “Quarterly Report”), the Company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1). The notification letter has no immediate effect on the listing or trading on the Company’s common stock on the Nasdaq Market. "Newgioco was particularly impacted due to the sudden and unforeseen lockdown of both commercial businesses and travel restrictions in Europe that affected not only our operations but also our ability to carry out corporate responsibilities on a timely basis,” stated Michele Ciavarella, CEO of Newgioco Group, Inc. “Since partial relief to reopen commenced in Italy on May 4, 2020, our management team and auditors have worked diligently towards completing both our Annual Report for the year ended December 31, 2019, which we filed on July 2, 2020 and our Quarterly Report for the three months ended March 31, 2020, which we expect to file as soon as practicable to regain compliance.” Nasdaq has informed the Company that it must submit a plan of compliance (the "Plan") within 60 calendar days of receipt of the letter, or August 31, 2020 addressing how it intends to regain compliance with Nasdaq’s listing rules and, if Nasdaq accepts the Plan, it may grant an extension of up to 180 calendar days from Quarterly Report’s original filing due date to regain compliance. The Company intents to file its Quarterly report as soon as practicable within the 60 days provided by Nasdaq. 
