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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 successfully acquired Bookmakers Company US LLC, operating as USBookmaking, for $12 million, with 50% in cash and 50% in stock. This strategic acquisition expands Elys' operational footprint across four states, enhancing its client base and revenue potential. USB will function as a fully integrated unit, leveraging its experienced team and Elys' advanced technology to strengthen their position in the U.S. sports betting market. The deal could lead to additional earnouts of up to $41.8 million by 2025.
Elys Game Technology, Corp. (Nasdaq:ELYS) announced the launch of its new U.S. retail sports betting platform, Elys Gameboard U.S., at the National Indian Gaming Association Trade Show in Las Vegas from July 19-22, 2021. The innovative platform utilizes advanced microservices and a distributed model architecture, offering a cost-effective solution for gaming operations. Elys Gameboard will be operational on United Tote’s self-service betting kiosks during the event. The Company aims to provide effective sports betting solutions for all types of venues across the U.S.
Elys Game Technology, Corp. (Nasdaq:ELYS) has signed a definitive agreement to acquire 100% of Bookmakers Company US LLC (U.S. Bookmaking) for $12 million, structured as 50% cash and 50% Elys shares. This acquisition aims to enhance Elys's presence in the U.S. sports betting market. USB provides consulting and turnkey sports wagering solutions, and its experienced management team is expected to leverage Elys's technology for growth. Additionally, an earnout of up to $41.8 million is contingent upon meeting certain EBITDA milestones over the next four years.
Elys Game Technology (Nasdaq: ELYS) announced its participation in the Summer Solstice Conference hosted by The MicroCap Rodeo from June 1-4, 2021. Elys will present on June 2 at 3:00 PM Eastern Time and will engage in one-on-one meetings with investors and analysts.
The presentation will be available for live streaming and replay at this link. The conference highlights 25 companies recognized as top investment ideas.
Elys operates globally, offering a range of gaming products and services in Italy and has initiated B2B operations in the U.S.
Elys Game Technology, Corp. (Nasdaq: ELYS) announced that Executive Chairman Michele Ciavarella will appear on Varney & Co. on Fox Business at 10:50 AM ET today. He will discuss the rapid growth of the sports betting and i-Gaming market in the U.S. and the Company's upcoming launch of retail sports betting operations this year. Elys operates globally, offering a full suite of gaming products, including sports betting and online casino services. The Company is well-positioned to leverage market expansion amidst favorable trends in the U.S.
Elys Game Technology (Nasdaq:ELYS) reported a record revenue of $14.2 million for Q1 2021, a 39% increase year-over-year, alongside a record wager turnover of $243 million. The company's web-based gaming turnover surged by 150%. However, Elys incurred a net loss of $0.6 million, attributed to non-recurring expenses related to U.S. expansion, including $0.4 million in stock-based compensation. Despite these losses, Elys has maintained a healthy cash position of over $21.5 million with no long-term debt and aims to capitalize on growth opportunities in North America and Europe.
Elys Game Technology, Corp. (Nasdaq:ELYS) announced a strong financial performance for 2020, achieving nearly $575 million in gaming turnover despite the COVID-19 pandemic. Revenue increased to $37.3 million, driven by a 54% rise in web-based gaming, although land-based turnover suffered due to shop closures in Italy. The company holds over $18.9 million in cash, positioning it well for expansion in North America. Elys anticipates 2021 could be a pivotal year with the rollout of their U.S. platform and a strategy aimed at enhancing shareholder value.
Elys Game Technology (Nasdaq:ELYS) has been invited to present at the Inaugural Emerging Growth Virtual Conference hosted by M Vest LLC and Maxim Group LLC, scheduled for March 17-18. The panel discussion on eSports, gambling, and entertainment will feature Executive Chairman Michele Ciavarella on March 18 from 9:30 to 10:30 a.m. EDT. This conference will include discussions from C-suite executives and live Q&A sessions. Elys operates globally with a focus on B2B and B2C gaming solutions, particularly in Italy, and is poised to launch operations in the U.S.
Elys Game Technology, Corp. (Nasdaq:ELYS) announced its participation in the Q1 Virtual Investor Summit, set for March 25, 2021, at 2:00 PM ET. The Investor Summit connects smallcap companies with investors, featuring over 100 companies and 300 investors. Elys, a global gaming technology firm, offers various online and land-based gaming products in Italy, including sports betting and online casinos. The company is also preparing for B2B operations in the U.S. Interested investors can register for the event online.
Elys Game Technology, Corp. (Nasdaq:ELYS) has provided an update on Canadian legislation regarding single-event sports betting. Bill C-218, which passed with bipartisan support (303-15), is under review by the Justice Committee. A similar measure, Bill C-13, is anticipated for discussion in the House of Commons. These bills seek to amend the federal criminal code to allow provinces to regulate single-event sports betting, offering potential growth opportunities for companies like Elys. CEO Mike Ciavarella remains optimistic about market developments.
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