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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 projected a revenue increase of approximately 22% to $45.5 million for the fiscal year ending December 31, 2021, compared to $37.3 million in 2020. Web-based gross gaming revenue is expected to rise by 74% to $54.9 million. The company reported significant growth in its U.S. B2B market segment, with revenues reaching approximately $1 million, a 627% increase. However, operating expenses are projected to rise, including selling expenses of $36.3 million and general administrative expenses of $19.1 million.
Elys Game Technology, Corp. (NASDAQ: ELYS) will participate in the 2022 Virtual Growth Conference, hosted by Maxim Group LLC from March 28-30, 2022. Executive Chairman Michele Ciavarella will lead a panel discussion on "iGaming & Sports Betting: Market Expansion Opportunities." He will address Elys' growth strategy in the North American market, focusing on iGaming and sports betting. The conference covers various sectors, including gaming and entertainment, and features company presentations and live Q&A. Register for the event on M-Vest.
Elys Game Technology, Corp. has received certification from Gaming Laboratories International for its Product Development and Change Management policies related to the Elys Gameboard sports wagering technology. This certification follows a comprehensive audit ensuring compliance with Washington DC’s Gaming Control Board standards. Executive Chairman Michele Ciavarella emphasized this achievement as a critical milestone in the company’s strategy to enhance its reputation as a leading sports wagering technology provider in the U.S.
Elys Game Technology, Corp. (NASDAQ:ELYS) announced a video conference on March 4, 2022, at 9:00 a.m. ET to update investors about its partnership with Ocean Casino Resort in Atlantic City, NJ, and its North American expansion. The company aims to become a leader in the gaming industry, offering a comprehensive suite of gaming products and services across multiple regions including Italy and six states in the U.S.
Details for the conference will be available on Elys’ Investor Relations website.
Elys Game Technology, Corp. (NASDAQ: ELYS) has announced the extension of its sports wagering service agreement with Isleta Resort and Casino in Albuquerque, New Mexico. This agreement solidifies Elys's commitment to providing high-quality sportsbook services as it expands into six U.S. markets. USBookmaking, Elys's subsidiary, will continue delivering wagering services at Isleta's sportsbook, which includes betting on NFL, NBA, and MLB games. Elys aims to enhance its opportunities in the tribal gaming sector as it pushes forward with its North American expansion plans.
Elys Game Technology announces that the joint petition with Ocean Casino Resort and Bookmakers Company US, LLC has been approved by the New Jersey Division of Gaming Enforcement for six months. This approval allows Elys to start sports betting transactions at Ocean from March 1, 2022. The Director of Operations at USBookmaking expressed excitement over the partnership, while the Executive Chairman of Elys highlighted this as a crucial step for expanding operations in North America and diversifying product offerings.
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.
Elys Game Technology announces the extension of its sports wagering service agreement with Santa Ana Star Casino Hotel in New Mexico, allowing continued sportsbook operations by its subsidiary, USBookmaking. The extension builds on a successful partnership since 2018, enabling offerings that include betting on major sports leagues such as the NFL, NBA, and MLB. This deal underscores Elys's commitment to expanding in the tribal gaming sector, which is a key focus area for future growth.
Elys Game Technology announced an agreement to operate a sportsbook at The Cloakroom in Washington, DC. This venture marks the company's second implementation of its strategy to provide advanced betting technology via a white label sportsbook solution in hospitality venues. Elys aims to enhance revenue streams for both Elys and Cloakroom, potentially increasing food and beverage sales and customer loyalty. The company expects this partnership will contribute to significant growth in gross gaming revenue in the region.
Elys Game Technology announces that the Grand Central Restaurant in Washington D.C. has received approval from the DC Office of Lottery and Gaming to expand its betting operations. This expansion includes more ticket window terminals and self-service kiosks, enhancing customer experience and wager velocity. Elys aims to boost growth in the small business sector and is optimistic about its U.S. market retention rates. The company reported a significant increase in betting handle at Grand Central and anticipates continued economic benefits for local businesses.
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