Elys Sport Know-how Drops Canada Fairness Itemizing

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Posted on: January 1, 2022, 03:37h. 

Final up to date on: January 1, 2022, 03:37h.

Elys Sport Know-how (NASDAQ:ELYS), a gaming expertise supplier, delisted its Canada-traded shares.

Elys
Elys Sport Know-how CEO Matteo Monteverdi. The corporate is delisting in Canada, however will proceed buying and selling within the US. (Picture: Proactive Traders)

The choice comes practically a 12 months to the day that the sports activities betting and interactive gaming expertise firm introduced a list on Canada’s NEO Change. That alternate, which drives about 13 % of annual buying and selling quantity in Canada, is dwelling to over 100 shares and funds.

The corporate has voluntarily delisted from the NEO on the shut of buying and selling on Wednesday, December 29, 2021, and its shares of widespread inventory will proceed to be listed and commerce on Nasdaq underneath the image ELYS,” in response to an announcement issued by Elys.

With a market capitalization of simply $71.42 million, Elys is among the smaller publicly buying and selling corporations with sports activities wagering publicity.

Tough 12 months for Elys Inventory

Like so many sports activities wagering equities, Elys Sport Know-how languished by a tough 2021 with the shares shedding 48.64 %.

Elys begins 2022 after sliding 11.4 % within the last week of final 12 months and 63.41 % under its 52-week excessive. Nonetheless, there may be some rays of hope for the downtrodden gaming inventory to begin the brand new 12 months.

Final 12 months, the corporate received a license to run retail sportsbooks in Washington, DC. The Elys allow in Washington, DC could also be the results of the corporate’s acquisition of Bookmakers Firm US, which was introduced in early July. At the moment, it was revealed the corporate, often called US Bookmaking (USB), has a service settlement in Washington, DC that goes into impact later this 12 months.

Final month, the corporate mentioned month-over-month wager tickets elevated 200 % in November at its Washington, DC operation. Income jumped to $67,000 from $43,000 in October.

Worldwide Attract

In late December, Elys introduced a brand new partnership with Playtech, leveraging its Newgioco model to develop its presence within the Italian iGaming market. That’s related as a result of Italy is the Eurozone’s third-largest financial system and residential to a mature, vibrant gaming market.

“With the Playtech assortment of gaming content material, Elys’ on-line and cellular on line casino now consists of 31 suppliers that supply clients in Italy as much as 1,300 slots in addition to 100 tables and reside vendor video games. This gaming content material is supplied by Newgioco,” in response to an announcement.

Due to the aforementioned USB acquisition, Elys has publicity to 4 US states. The corporate mentioned it plans “to determine a big presence” in each Canada and the US within the coming months.



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