Elys Game Technology, Corp. Provides Earnings Guidance for the Fourth Quarter 2020
January 28, 2021 at 09:00 am
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Elys Game Technology, Corp. reported that preliminary, unaudited net gaming revenue increased by 26% to approximately $13.1 million for fourth quarter of 2020 compared to $10.4 million for the same period in the previous year. Additionally, web-based gross gaming revenue increased by approximately 69% in Fourth Quarter 2020 compared to the same period in the previous year. As reported by Italy’s leading gambling, betting, and gaming news agency Agenzia Giornalistica sul Mercato del Gioco, spending within the online sports betting sector in Italy reached almost $1.2 billion for the full year of 2020, an increase of approximately 37.5% over 2019 according to statistics provided by the Italian regulator. Despite the highly competitive market in Italy, Elys grew by 56% gaining market share while further strengthening its competitive position in the mobile and online channel.
Elys BMG Group, Inc. is a global gaming technology company. The Company offers betting platform, which is capable of processing any type of digital game content. The Company offers its clients a full suite of omnichannel leisure gaming products and services, such as online sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games, and online slots on a business-to-business (B2B) basis in Italy and has B2B operations in three states as well as the District of Columbia in the United States market. The Company provides sports betting software, online casino software, services for commercial and tribal casinos, retail betting establishments, and franchise distribution networks. It offers fully integrated end-to-end sportsbook solution for both B2B and business-to-consumer (B2C) leisure gaming operators. It also offers virtual betting experiences that creates and manages multiple level commercial networks from one dashboard.