ORLANDO, Fla., Jan. 15, 2021 (GLOBE NEWSWIRE) -- Last week, Elys Game Technology, Corp. (Nasdaq:ELYS) (NEO:ELYS) (BER:3UW), an interactive gaming and sports betting technology company, announced that it has commenced trading on Canada’s NEO Exchange under the symbol "ELYS."
To date, it is the first dual-listing of a publicly traded technology company from the NASDAQ Capital Market to the NEO Exchange.
And while that news in and of itself is remarkable, the Company finding new markets in a very different year is not.
Elys Game Technology, Corp. is a B2B global gaming technology company operating in multiple countries worldwide, with B2C gaming operations in Italy servicing over 1,500 land-based locations that service an indeterminate number of walk-in players and over 100,000 active online clients. In Italy, Elys offers 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. The Company’s innovative wagering solution services online operators, casinos, retail betting establishments, and franchise distribution networks.
That’s the profile description. But the story is bigger, deeper.
It is important to note that Elys has interests in brick-and-mortar, online operators, and is pursuing market share in rapidly expanding categories like e-sports. Their specialist in-house engineering team developed and in 2017 launched one of the worlds newest, cutting-edge sports betting technology known as Elys Gameboard™ in the highly regulated Italian market. Elys now plans to expand this now proven system around the world beginning with the rapidly growing U.S. sports betting market. Elys monetizes their business through commissions earned on i-gaming products such as online casino, poker and lottery, in addition to profit margin on sports book spread sold to retail bettors through both online and land-based channels. Its announced strategy for the U.S. will be a hybrid B2B2C model leveraging the lightweight scalability of Elys Gameboard™ and their extensive retail expertise gained over the past two decades. In a very recent report, research house Zack’s points out the growth of Elys’ market:
“Turnover, or betting handle, has grown from about $122 million in 2016 to $454 million in 2019 and is expected to continue to rise as the company pursues expansion initiatives. Management believes the Elys platform is highly scalable and can continue to support its growth initiatives and expansion, reflecting the company’s entrance into new markets combined with potential M&A transactions and the anticipated growth of the e-sports sector.”
Listing on the NEO gives the Company a massive new outlet for investors and institutions to find its shares. That much is certain.
As the Company looks to rapidly scale its product offering internationally and domestically, it will now be celebrating its newest corporate achievements and successes to a whole new audience.
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EMC'S contract terms with ELYS Game Technology Corp. are as follows, the sum of $250,000 to be paid in payments as described below:
a. The first payment of $75,000 is to be paid up front.
b. The second payment of $175,000 to be paid if the company is satisfied with EMC’s services.
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