Empire Global adds 30 web-shop gaming arcades in Italy

(PRESS RELEASE) -- Empire Global Corp., a company providing regulated online and offline gaming and wagering through its wholly owned ADM licensed subsidiary Multigioco Srl, has announced that it has added 30 online web-shop gaming arcades situated in Rome, Italy.

The locations currently generate approximately $3 million per year in gross betting wagers and have approximately 500 online gaming accounts.

"The company recognizes several remarkable opportunities as a result of the 2016 Stability Law in Italy," said company CEO Michele Ciavarella. "We intend to fully capitalize on these opportunities with our valuable 2021 online license and the upcoming land-based tender in June this year."

The company acquired the locations at no cost from a competing dotcom operator and will be integrated under our Multigioco online license with Newgioco branding and new online sports betting platform by the end of March 2016. The company will invest up to $150,000 for rebranding, refurbishing and marketing as part of the deal, which is expected to add approximately $250,000 in annual earnings to our operations.