Empire Global releases 2015 third quarter results

(PRESS RELEASE) -- Empire Global Corp. announced today that it has filed its 2015 third quarter results in a timely manner with the U.S. Securities and Exchange Commission.

The company reports an after tax loss of $467,125, representing a loss of $0.02 per common share for the third quarter of 2015. The report is highlighted by stabilizing enterprise economics with significantly reduced non-recurring costs at the corporate level, compared to previous quarters.

Other highlights include:

-- Non-GAAP gaming turnover reached $17.53 million for the three months ended Sept. 30, 2015, an increase of 84.63% compared with the three months ended Sept. 30, 2014;
-- GAAP revenue reached $1.1 million for the three months ended Sept. 30, 2015, compared to $0.66 million for the three months ended Sept. 30, 2014, an increase of 65%;
-- Improved gaming operations profitability;
-- The company issued 332,350 common shares at September 30, 2015 closing price to reduce debt by $345,645, which shows an increased confidence in our stock;
-- Market capitalization increased to $24.2 million at the end of the quarter.

“Our high-season got underway with the start of Serie A soccer lifting sports betting turnover to record levels for Multigioco in September,” remarked company CEO and Chairman Michele Ciavarella. “Organic turnover volume and market share growth remain robust against the backdrop of an improving regulated gaming environment in Italy, while we continue progressing with the integration of our recently acquired web-shops, and, as previously announced, roll-up of additional land-based corner and agency expansions this year and next."

The report is available on Empire’s website and a printed copy may be requested free of charge by contacting Empire.