Elys Game Technology Becomes First Dual Listing Technology Company From NASDAQ to NEO Exchange

Rhea-AI Summary

Elys Game Technology, Corp. (Nasdaq:ELYS, NEO:ELYS) has commenced trading on the NEO Exchange, marking the first dual-listing of a technology company from NASDAQ to NEO. With a market capitalization of approximately $109.6 million, Elys reported a 43.6% increase in year-over-year revenue for Q3 2020, driven by its web-based gaming growth. The company aims to expand in both U.S. and Canadian markets, particularly with proposed legislation in Canada to legalize single-event sports wagering, which could enhance their market position.

Positive

• 43.6% year-over-year revenue increase for Q3 2020.
• Surpassed 100,000 online gaming accounts goal.
• First dual-listing from NASDAQ to NEO Exchange, enhancing visibility.
• Positioned to capitalize on growing Canadian market due to proposed sports wagering legislation.

Negative

• None.

Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq:ELYS) (NEO:ELYS), an interactive gaming and sports betting technology company, announced today that it has commenced trading on the NEO Exchange under the symbol “ELYS.”

Already listed on the NASDAQ Capital Market since December 27, 2019, and also trading under the symbol “ELYS,” today’s launch marks the first dual-listing of a publicly traded technology company from the NASDAQ Capital Market to the NEO Exchange.

With a market capitalization of approximately $109.6 million, Elys reported third-quarter financial results, ended September 30, 2020, showing a 43.6% year-over-year revenue jump on the back of steady growth in its web-based gaming turnover. The company also surpassed its goal of achieving 100,000 online gaming accounts before the close of 2020, indicating strong performance in their online and mobile channels.

“Our listing on the NEO Exchange is an important milestone on many levels for Elys, particularly as we build on our initial go-to-market strategy in the rapidly growing U.S. market and develop our foothold in the Canadian market,” said Elys' Chairman and CEO, Michele Ciavarella. “Recently proposed legislation in Canada would legalize single-event sports wagering, and is expected to increase the CDN$80 billion wagered on sports each year in Canada. We believe we are extremely well positioned to capitalize on this growing market and believe this listing will provide us greater exposure among Canadian investors as we work to execute on our strategy throughout North America.”

The NEO Exchange is home to over 100 corporate and ETF listings, and consistently facilitates more than 13 percent of all Canadian capital markets trading volume. Click here for a complete view of all NEO-listed securities.

Investors in Canada can trade shares of NEO:ELYS through their usual investment channels, including discount brokerage platforms and full-service dealers.

About Elys Game Technology, Corp.

Elys Game Technology, Corp. is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. In Italy, Elys offers clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games, and slots. The Company’s innovative wagering solution services online operators, casinos, retail betting establishments, and franchise distribution networks.

The Company has completed the product regulatory requirements to commence B2B operations in the United States. Additional information is available on our corporate website at www.elysgame.com.

Connect with ELYS: Website | LinkedIn | Twitter

About NEO Exchange

The NEO Exchange is a progressive stock exchange that brings together investors and capital raisers within a fair, efficient, and service-oriented environment. Fully operational since June 2015, the NEO Exchange puts investors first and provides access to trading all Canadian-listed securities on a level playing field. The NEO Exchange lists senior companies and investment products seeking a stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements and include statements regarding the effect of recently proposed legislation in Canada to legalize single-event sports wagering, the Company being extremely well positioned to capitalize on this growing market and the NEO Exchange listing providing the Company with greater exposure among Canadian investors. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of the recently proposed legislation in Canada to legalize single-event sports wagering to become law, the Company’s ability to execute its strategy to capitalize on this growing market, the NEO Exchange listing providing the Company with greater exposure among Canadian investors, the duration and scope of the COVID-19 outbreak worldwide, including the impact to the state and local economies, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

The NEO Exchange has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of contained herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201230005128/en/

FAQ

What is Elys Game Technology's recent market development?

Elys Game Technology has listed on the NEO Exchange under the symbol ELYS, marking a significant dual-listing move.

How did Elys perform financially in Q3 2020?

Elys reported a 43.6% increase in revenue year-over-year for Q3 2020.

What is the significance of the proposed legislation in Canada for Elys?

The proposed legislation aims to legalize single-event sports wagering in Canada, which could significantly boost Elys's market potential.

What are the trading options for Elys shares in Canada?

Investors can trade shares of Elys (NEO:ELYS) through their usual investment channels in Canada.

What does Elys's dual-listing imply for investors?

The dual-listing enhances Elys's visibility and access to Canadian investors, potentially improving liquidity and investment opportunities.