Italian retail and online betting operator Newgioco Group has strengthened its management team with a view to entering the US sports betting market.
Newgioco has announced several key additions to its leadership and management team, including the appointment of Alessandro Marcelli to chief operating officer.
The company has also brought in Elizabeth MacLean as vice president of finance and accounting, Ralph Garcea as VP of corporate and business development, Jay Cardwell as interim chief financial officer, and Bill Mitoulas as VP of communications and investor relations.
"The collective strength and experience of the Newgioco management team and board of directors has greatly been improved with these additions,” said Newgioco chief executive Michele Ciavarella. “Each of the new appointees bring years of experience and skillsets which will be instrumental to the company's success as it looks to establish entry into the US sports betting market.
“I am absolutely delighted where Newgioco finds itself today, excited on executing on our growth strategy, and sincerely welcome our new team members to the Newgioco family."
MacLean brings more than 20 years’ experience leading finance teams in a variety of industries in both the US and the UK, most notably as global lead for financial systems and processes at Progressive Gaming International. She will be based in Phoenix, Arizona, and represents Newgioco's first US-based employee.
Garcea has extensive experience in senior analyst positions at various domestic and international banks and brokerage firms, and is well regarded for the depth and breadth of knowledge he brings to bear on his coverage of Canadian technology, gaming and industrial companies.
Newgioco said that his previous coverage of a number of gaming companies, including The Stars Group, NYX Gaming, Jackpotjoy, Innova Gaming and Pollard Banknote, will be an invaluable asset working with management and the board in executing the company’s global expansion strategy, with a focus on Italy and the US sports betting markets.
The company’s new interim CFO Jay Cardwell has more than 30 years of leadership experience, specializing in both SEC financial reporting and tax compliance, financial reporting, mergers and acquisitions, international accounting and corporate development.
Mitoulas brings 20 years of experience in financial product sales, marketing and investor relations to his new role as VP of communications and investor relations. He has been the principal of Venture North Capital since July 2011, a company providing corporate finance and capital markets consulting services to publicly listed companies.
In addition to the new appointments, Newgioco has appointed president Alessandro Marcelli to the new role of chief operating officer.
The company said that his extensive experience in the sports betting and leisure gaming industry will provide valuable insight as the company continues to drive growth and execute on its international operational strategy.
In conjunction with Marcelli's appointment, Newgioco is now actively seeking a new president to spearhead the next phase of its global growth initiatives.
Shares in Newgioco Group Inc (OTCQB:NWGI) closed at US$0.4521 per share on Monday, down 13.06 per cent.