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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, Corp. (NASDAQ: ELYS) has announced a definitive agreement for a registered direct offering of 3,166,227 shares at $0.9475 per share, expected to close around June 15, 2022. Concurrently, the company will issue warrants for the same number of shares, exercisable after six months at the same price, valid for five years. The offering is projected to raise approximately $3.0 million for working capital and general corporate purposes. H.C. Wainwright & Co. is the exclusive placement agent for this transaction.
Elys Game Technology, Corp. (NASDAQ:ELYS) has entered into an agreement with Petworth Wagering, LLC to operate a sportsbook at Entitlement Restaurant and Cigar Lounge in Washington D.C. This venue will be the fifth location in D.C. utilizing Elys' sportsbook system, enhancing the company’s strategy of integrating sports betting into social venues. The agreement spans an initial three-year term with two possible two-year extensions. Elys aims to boost revenue and employment opportunities through this partnership while continuing to expand its presence in the gaming market.
Elys Game Technology, Corp. (Nasdaq: ELYS) has partnered with District Hospitality to operate the BetDupont sportsbook in Washington D.C.'s Dupont Circle. This agreement represents Elys' fourth restaurant sportsbook solution, aiming to enhance the dining and gaming experience. The partnership includes an initial three-year term with two potential two-year extensions, contingent upon licensing. Elys plans to expand its sportsbook offerings in D.C. and surrounding states, leveraging low installation costs and established customer relationships to foster growth in local businesses.
Elys Game Technology reported Q1-2022 GAAP revenue of
Elys Game Technology, Corp. (NASDAQ: ELYS) announced retail distribution agreements with Virtual Generation Limited to launch virtual sports wagering and amusement products in Italy. This initiative targets around 5,000 retail locations, aiming to generate $5-$7 million in annual revenue. The deployment includes various virtual sports events, enhancing Elys's market presence in Italy and beyond. Executive Chairman Michele Ciavarella emphasized that the investment in Virtual Generation positions the company competitively across regulated markets, including the U.S., Canada, and South America.
Elys Game Technology, Corp. (Nasdaq: ELYS) has announced an exclusive partnership with Wright Bet Ventures LLC to manage multiple sportsbooks in Ohio. This collaboration aims to replicate the successful Washington, D.C. model, allowing local businesses to offer sports betting licenses. If approved by the Ohio Casino Control Commission, the partnership could establish up to 12 sportsbook locations statewide. Elys expects significant contributions to Ohio's economy, targeting nearly $1 billion in gross gaming revenue, with operations anticipated to launch in January 2023.
Elys Game Technology reported a record GAAP revenue of
Elys Game Technology, Corp. (NASDAQ: ELYS) has appointed Sandy Drozd to lead its U.S. and Canadian technology deployments, advancing its expansion strategy. With over 25 years in the sports gaming industry, Drozd's expertise includes regulatory compliance and technology implementation. Elys aims to become a leading B2B sports betting technology provider in North America, leveraging Drozd's experience from Wynn Resorts and other firms. The company continues to expand its operations in various U.S. states and the District of Columbia.
Elys Game Technology announced a partnership with All Bets Inc. to launch allBETS DC One, a sportsbook in Washington, D.C. This venue, located at 821 Upshur St. NW, will be managed by Elys' subsidiary, USBookmaking, which will provide risk management and trading services. This marks Elys' third implementation of its turn-key sportsbook solutions in non-traditional locations. The venture aims to support minority-owned enterprises in the sports betting sector and foster revenue opportunities for local businesses.
Elys Game Technology, Corp. (NASDAQ:ELYS) has announced definitive agreements with Lottomatica S.p.A. to license a customized sportsbook platform, primarily targeting the North American market. The partnership aims to expand Elys' land-based distribution in Italy and enhance its digital presence in Canada and the U.S. Elys views 2022 as a pivotal year for converting previous investments into revenue, leveraging its technology and expertise. The collaboration with Lottomatica is expected to position Elys as a leader in sports betting technology.
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