NEW YORK, June 9, 2015 (GLOBE NEWSWIRE) -- Empire Global Corp. (OTCQB:EMGL) is pleased to announce the grand opening of our new gaming arcade located at Via Casetta Matei in north Rome, Italy.
This agency location is the Company's first new rollout under the Monti license acquired in January 2015 and adds to our existing portfolio of 850 web café's along with 3 corners and 1 agency in Rome. Renovations in our new agency were aimed at our sport bet centric business objectives by including a high-tech feature wall broadcasting European soccer, Formula One racing, horse racing and basketball as well as virtual sports and races and is serviced by a three-person cash cage.
The Company is progressing with renovations and rebranding in our existing web-based shops, and focussed on increasing our land-based footprint ahead of the 2016 license tender in Italy.
Michele Ciavarella, CEO of the Company stated, "Our recently reported first quarter results indicate that land-based locations are expected to represent a boost in profit margins as our build-out leans towards expansion of this segment. Based on our existing operations, we forecast that each additional agency could generate approximately 10% in net earnings on an estimated gross gaming revenue of euro 1 million per location."
About Empire
Empire Global Corp. is a company focused on developing world-class products and services in the regulated global online gambling industry with specialization in the online sports betting vertical. Our vision is to develop our business through strategic mergers and acquisitions and reorganization of existing licensed operators in geographically diversified jurisdictions. We seek to create long-term value for our investors and positive economic influence with the companies and the communities we invest in through our commitment to responsible gaming and the clients we serve. Additional information is available on our website at www.emglcorp.com.
This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "forecast," "plans," "intends," "potential" and similar expressions. These statements reflect the company's current beliefs and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements.
Factors which may cause such differences include the company's ability to complete additional acquisitions, expand our distribution, increase our client base and other risks disclosed in the Company's SEC filings. The company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information covered in this press release, including such forward-looking statements.