viewElys Game Technology Corp

Newgioco Group says software subsidiary passed Stage 1 of ISO-27001 certification process

The certification involved an informal review of wholly owned subsidiary Odissea’s Information Security Management System

Newgioco Group, Inc. - Newgioco Group says subsidary Odissea Betriebsinformatik Beratung GmbH has passed Stage 1 of the ISO-27001 certification process
Toronto-based Newgioco plans to enter the US sports betting market by the third quarter of 2020

Newgioco Group Inc (NASDAQ:NWGI) announced Thursday that Odissea Betriebsinformatik Beratung GmbH, its wholly owned software development subsidiary, has passed Stage 1 of the ISO-27001 certification process for safety management.

The online sports betting and gambling company said the certification process involved an informal review of Odissea’s Information Security Management System (ISMS). For example, it constituted checking the existence and completeness of key documentation such as the organization's information security policy, Statement of Applicability (SoA) and Risk Treatment Plan (RTP).

Newgioco said the procedures for Stage 2 certification, which is currently underway, involves a more detailed and formal compliance audit and independent testing of the ISMS against the requirements specified in ISO-27001.

READ: Newgioco Group forms Elys Gameboard Technologies subsidiary to expand sports betting operations into US

The ISO-27001 is the leading international standard focused on information security, published by the International Organization for Standardization (ISO) in partnership with the International Electrotechnical Commission (IEC).

“We are continuing to put full measures in place that include the ISO-27001 as well as the platform certifications provided by Gaming Laboratories International for our anticipated launch in the US sports betting market by the third quarter of 2020,” said CEO Michele (Mike) Ciavarella, in a statement.

“We expect ISO-27001 to be completed within two months and to have Version 1 of Odissea’s Elys US Platform ready to submit for GLI-33 certification within two to three weeks. The GLI-33 certification independently verifies for state regulators the transparency of each bet transaction that is processed through our software.”

Newgioco, based in Toronto, said that once ISO-27001 certification is completed, Odissea will be subject to ongoing and follow-up reviews or audits to confirm that it remains in compliance with the standard.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham


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