Elys Game Technology Comments on British Columbia Lottery Commission Restaurant and Bar Pilot
Elys Game Technology (Nasdaq: ELYS) announced positive January 2022 results from its small business sportsbook at Grand Central Restaurant in Washington D.C., reporting over 12,000 tickets transacted. The company highlighted its support for the British Columbia Lottery Commission's initiative to study legalized sports betting in small businesses. Elys aims to drive traffic to its partners, showcasing potential growth in ancillary revenue from sports betting. The reported metrics from October 2021 to January 2022 indicate an upward trend in gaming activity, contributing to a strong foundation for ongoing operations.
- January 2022 saw over 12,000 tickets transacted at Grand Central Restaurant.
- Gross Gaming Revenue (GGR) for January was $70,737, with a hold of 11.84%.
- Elys's experience in operating small business sportsbooks positions it well for expansion.
- Support for BCLC's pilot program indicates a strategic move towards market growth.
- GGR and hold percentages showed a decline compared to previous months, indicating potential volatility.
- Results suggest seasonally expected reduction in handle, impacting revenue.
Elys' extensive experience operating small business sports-books commends BCLC Initiative
NEW YORK, NY / ACCESSWIRE / February 22, 2022 / Elys Game Technology, Corp. ("Elys" or the "Company") (Nasdaq:ELYS) (BER:3UW), an interactive gaming and sports betting technology company, today announces January 2022 results from its initial small business sportsbook installation at the Grand Central Restaurant ("Grand Central") in Washington D.C. and provides comments regarding Canada's British Columbia Lottery Commission ("BCLC") restaurant and bar pilot program.
January 2022 was another successful month at Grand Central with consistent playthrough of over 12,000 tickets transacted and positive sportsbook hold with a seasonally expected reduction in handle and GGR.
October 2021 through January 2022 Results
October | November | December | January | |
Bet tickets | 2,508 | 7,951 | 12,661 | 12,691 |
Handle | ||||
Payouts | ||||
GGR* | ||||
Hold |
*Gross Gaming Revenue
"Elys compliments the BCLC's initiative to study legalized and regulated sports betting in restaurants and bars and similar small businesses. This pilot is an integral step forward in the expansion of small business sportsbooks across North America. Elys has been operating sports betting in small businesses for over 20 years in Italy and has vocally supported the segment in the U.S. and Canada since 2014," stated Michele Ciavarella, Elys' Executive Chairman. "Through this extensive experience, we developed our technology to install a turnkey, downsized and affordable solution together with a highly-skilled bookmaking team that could potentially drive traffic to our small business partners as demonstrated by early results in Washington D.C. We believe that the consistent number of tickets at Grand Central implies potential growth in visiting patrons that could enhance core product sales for the business, and that GGR reflects ancillary revenue that could be derived from sports betting and a source of voluntary tax revenue for states and provinces where this small business application is approved."
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. Elys offers its 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 in Italy and has operations in five states in the U.S. market. Elys' vision is to become a global leader in the gaming industry through the development of pioneering and innovative technology.
The Company provides wagering solutions, services online operators, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.
Investors may also find us on Twitter @ELYS_gaming.
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 expansion of small business sportsbooks across North America, driving traffic to our partners, enhancing core product sales, potential ancillary revenue derived from sports betting and source of voluntary tax revenue for states and provinces. 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 expansion of small business sportsbooks across North America, the ability to driving traffic to our partners and to enhance core product sales as expected, the potential ancillary revenue derived from sports betting and source of voluntary tax revenue for states and provinces as expected, the duration and scope of the COVID-19 outbreak worldwide, including the impact to 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, 2020 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.
Contacts:
Elys Game Technology, Corp.
Michele Ciavarella, Executive Chairman
Tel: 1-628-258-5148
Email: m.ciavarella@elysgame.com
Investor Contact:
KCSA Strategic Communications
Valter Pinto or Jack Perkins
Tel: 1-212-896-1254
Email: ELYS@KCSA.com
SOURCE: Elys Game Technology, Corp.
View source version on accesswire.com:
https://www.accesswire.com/689793/Elys-Game-Technology-Comments-on-British-Columbia-Lottery-Commission-Restaurant-and-Bar-Pilot
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