Elys Game Technology delists Canada-traded shares

Elys Game Technology delists Canada-traded shares

Published: January 5, 2022

Elys Game Technology, a well-respected online gaming content supplier, has dropped its Canada stock listing. It happened almost a year after the enterprise announced a listing on Canada’s NEO Exchange. It is home to more than a hundred stocks and funds, driving about 13% of the yearly trading volume in the country.

Elys is among the smallest publicly trading enterprises with sports betting exposure, with a market capitalization of only $71.42m. Its shares of common stock will continue to trade and still be listed on Nasdaq as ELYS.

Elys has suffered through a difficult 2021, like numerous sports betting equities. Its shares have shed 48.64%. The mentioned year finished roughly for the enterprise, dropping 11.4% in the final week and 63.41% below its 52-week high.

Still, there are flickers of hope the fallen iGaming company will rise again and start the new year properly. Last year, the company obtained a permit to operate retail sportsbooks in Washington, DC.

Its purchase of US Bookmaking (USB), which has a service agreement in this city, occurred in July 2021. The deal will come into force later in 2022, providing a great business opportunity for Elys.

The enterprise announced that month-over-month wager tickets went up 200% in November 2021 in Washington, DC. The revenue accumulated was $67,000, compared to $43,000 in October 2021.

Thanks to the USB purchase, Elys has penetrated four US states. The company announced it planned to establish its position in Canada and the US in the following months.

Near the end of 2021, Elys announced the new agreement with Playtech, expanding its presence in the Italian market via the Newgioco brand. Italy is the third-largest European economy and a flourishing gaming jurisdiction.

Including the Playtech gaming content portfolio, Elys’ mobile and online casino suite now contains thirty-one providers. They offer up to 1,300 slot games, 100 tables and Live Dealer games to their Italian players via Newgioco.

About Elys Game Technology

Elys Game Technology is a Nasdaq-listed company, a fully integrated and licensed online and land-based gaming operator. The enterprise runs its business predominantly via internet-based sports wagering and gaming platform under the Newgioco brand.

It provides a suite of gaming services and products, including online casino, virtual sports, poker, sports betting, interactive slots and games.

The company’s interactive wagering platform offers both B2B and B2C bet processing. Its experienced team is knowledgeable in every segment of the iGaming and sports betting business.

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