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ELYS BMG GROUP INC (symbol: ELYS), also known as Elys Game Technology Corp., is an interactive gaming and sports betting technology company. The company is fully licensed and operates both online and land-based gaming platforms. Elys conducts its primary business through the internet-based gambling and sports betting platform under the registered brand Newgioco, accessible via www.newgioco.it, and through various retail neighborhood betting shops across Italy. Its comprehensive suite of leisure gaming products includes sports betting, virtual sports, online casino games, poker, bingo, interactive games, and slots.
Moreover, Elys offers an innovative betting platform, accessible at www.odissea.at, that caters to both B2B and B2C bet processing. The company has made significant strides in regulated markets globally, including recent expansions in North America.
In the U.S., Elys has introduced a unique small business sportsbook model that enables local businesses to offer sports gambling services. The first U.S. location, Grand Central Sportsbook in Washington D.C., has been a notable success, reporting Gross Gaming Revenue (GGR) of $67,500 per month, significantly exceeding initial expectations. Following this success, Elys has expanded with additional locations in D.C. and plans further growth in other states.
The company's competitive edge is underscored by its 'best odds' model, which provides the most competitive odds on various sports events, prioritizing long-term customer loyalty. This approach sets Elys apart from major players like DraftKings and FanDuel, which focus heavily on marketing spend for short-term gains. As sports betting continues to grow in the U.S., fueled by the popularity of the NFL and other major sports leagues, Elys is well-positioned to become a significant player in the market.
To stay updated on the latest developments, financial conditions, projects, and partnerships, visit the corporate website at www.newgiocogroup.com.
Elys Game Technology announced a significant milestone as it surpassed 100 host locations for its land-based sportsbook services in Ohio, anticipating a launch in January 2023, pending regulatory approval. Michele Ciavarella, Executive Chairman, expressed excitement about the momentum from retail establishments and showcased the innovative "Build-your-bet" technology at the Ohio Bar Owners Association trade show. This feature aims to enhance revenue streams for host locations by allowing customers to prepare bets off-site, thus driving foot traffic and customer engagement at participating venues.
Elys Game Technology has scheduled its annual meeting for shareholders on November 21, 2022, at Ocean Casino Resort, Atlantic City. Stockholders as of September 28, 2022, should vote by November 20, 2022. The meeting will include a demonstration of Elys's sportsbook solution and updates on its small business sportsbook model, casino expansions, and mobile platform deployment. The meeting will also be available online for those unable to attend in person.
Elys Game Technology announced a strategic partnership with Bookmakers, LLC to launch land-based sportsbook services at Top Hat Sports Bar & Grill in Parkville, Maryland. Pending regulatory approval from the Maryland Lottery and Gaming Control Commission, Elys will earn a share of the sports betting revenue. This collaboration aims to enhance customer experience and generate new revenue streams for local businesses. Elys plans to expand its sportsbook solution across various establishments nationwide, demonstrating its growing presence in Maryland's evolving gaming market.
Elys Game Technology, a leader in interactive gaming and sports betting, will present at the MicroCap Rodeo Windy City Roundup 2022 on October 13 in Chicago. Head of Corporate Affairs, Mark Korb, is set to speak at 3:30 PM CT. The event offers opportunities for one-on-one meetings with qualified investors. Interested parties can register and learn more via the provided links. Elys operates globally, providing B2B and B2C gaming solutions, including sports betting and online casinos, with operations in Italy and several U.S. states.
Elys Game Technology has announced an expansion of its partnership with Grand Central Restaurant and Sportsbook to open a second sportsbook location in Washington D.C. This follows the success of their first location in the Adams Morgan district, which has seen continuous growth in betting activity. The new venture is still pending approval from local regulatory bodies. Elys aims to support the recovery of small businesses in the area through its sportsbook solutions and the popular Build-Your-Bet feature.
Elys Game Technology, Corp. (Nasdaq:ELYS) announced approval for its BetDupont Certified Business Enterprise Joint Venture in Washington, DC. This venture allows Elys to operate a new sportsbook at the Ozio Lounge, following a previously announced partnership with District Hospitality. The agreement has an initial term of three years, with potential two-year extensions. Elys aims to expand its sportsbook solutions in the U.S. and has already established sports betting locations at Grand Central Restaurant and upcoming at Cloakroom Gentlemen’s Club. The company continues to pursue rapid growth in the sector.
Elys Game Technology, Corp. (NASDAQ:ELYS) announced a partnership with Wright Bet Ventures in Ohio, resulting in over 50 retail host locations agreeing to implement Elys' sports wagering solution within the first month. The company's Type C application is pending regulatory approval by the Ohio Casino Control Commission. Elys aims to capitalize on Ohio's lucrative sports betting market, projected to generate nearly $1 billion in gross gaming revenue over three years. Elys' expanding strategy includes installing kiosks in retail locations, enhancing customer experience with innovative features.
Elys Game Technology has partnered with Rod ‘N’ Reel Resort in Chesapeake Beach, MD, to offer land-based sportsbook services, pending regulatory approval. Elys will earn a percentage of sports betting revenue generated at the resort. The Maryland Lottery and Gaming Control Agency have approved new rules for sports betting, with Rod ‘N’ Reel being one of seven entities granted a sportsbook license. This partnership aligns with Elys' North American expansion strategy and supports local community development.
Elys Game Technology reported improved financial results for Q2 2022, achieving a net profit of
Elys Game Technology, Corp. (NASDAQ: ELYS) has completed a registered direct offering of 3,166,227 shares of common stock at $0.9475 per share, totaling approximately $3.0 million before fees. Concurrently, the company issued warrants for the same number of shares, exercisable at the same price, six months after issuance with a five-year term. The net proceeds will support working capital and general corporate purposes. H.C. Wainwright & Co. acted as the placement agent for this offering.
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