NEW YORK -- (PRESS RELEASE) -- Empire Global Corp. (the company) (EMGL.OTCQB) announced today the entry into a Material Definitive Agreement to acquire Multigioco Srl., a licensed gaming operator based in Rome, Italy. The Agreement has a closing date of June 30, 2014 or sooner if practicable and if mutually agreed upon in writing by the parties to the Agreement.
The transaction will result in Empire Global owning 100% of the issued and outstanding shares of Multigioco Srl., which includes all the assets, intellectual property, operations and licences governed under the Italian national gaming authority Amministrazione Autonoma Monopoli di Stato (AAMS).
Multigioco has over 850 venues under its licence mainly situated throughout Central and South Italy, with an extensive current on-line platform and certified for PosteItalia, MasterCard, Visa and Skrill Gaming Card use and with mobile applications on the horizon. Multigioco operations generated 71 million Euro in Gross Gaming Revenue (GGR) in 2013. Game offerings include Sports betting (Soccer, Horse Racing and other sports) and lottery distribution terminals, which represents the largest turnover. Other significant offerings are Online Casino, Online Poker and Cash Games (Cards), Slots and Bingo, while to a lesser degree various VLT games (i.e. tantalizing games).
Michael Ciavarella, Chairman and CEO comments, "The acquisition of Multigioco represents our commitment to developing our business in the global gaming and wagering space. We plan to aggressively pursue attractively priced, fragmented and profitable gaming operators in Italy with a goal to become a top tier gaming operator over a 5 year investment time horizon."
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