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Elys Match Technological know-how Drops Canada Equity Listing

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Posted on: January 1, 2022, 03:37h. 

Previous updated on: January 1, 2022, 03:37h.

Elys Game Technologies (NASDAQ:ELYS), a gaming technological know-how company, delisted its Canada-traded shares.

Elys Game Technological innovation CEO Matteo Monteverdi. The business is delisting in Canada, but will go on trading in the US. (Picture: Proactive Investors)

The selection comes just about a year to the working day that the sports betting and interactive gaming technological know-how corporation declared a listing on Canada’s NEO Trade. That exchange, which drives about 13 per cent of annual buying and selling volume in Canada, is house to over 100 shares and money.

The firm has voluntarily delisted from the NEO at the near of investing on Wednesday, December 29, 2021, and its shares of widespread stock will go on to be mentioned and trade on Nasdaq below the image ELYS,” according to a assertion issued by Elys.

With a sector capitalization of just $71.42 million, Elys is one particular of the smaller publicly buying and selling companies with athletics wagering exposure.

Rough 12 months for Elys Inventory

Like so a lot of sports wagering equities, Elys Match Technology languished by means of a tough 2021 with the shares shedding 48.64 per cent.

Elys starts off 2022 after sliding 11.4 % in the last week of very last 12 months and 63.41 per cent beneath its 52-week high. However, there may possibly be some rays of hope for the downtrodden gaming stock to start the new calendar year.

Very last 12 months, the firm gained a license to run retail sportsbooks in Washington, DC. The Elys allow in Washington, DC may be the outcome of the company’s acquisition of Bookmakers Company US, which was announced in early July. At that time, it was exposed the corporation, regarded as US Bookmaking (USB), has a provider settlement in Washington, DC that goes into influence afterwards this 12 months.

Very last thirty day period, the business claimed month-over-month bet tickets amplified 200 per cent in November at its Washington, DC procedure. Revenue jumped to $67,000 from $43,000 in October.

Intercontinental Attract

In late December, Elys announced a new partnership with Playtech, leveraging its Newgioco brand to grow its existence in the Italian iGaming market. That’s related since Italy is the Eurozone’s third-major financial state and home to a mature, vivid gaming market place.

“With the Playtech assortment of gaming articles, Elys’ on the net and cellular casino now involves 31 companies that offer you shoppers in Italy up to 1,300 slots as properly as 100 tables and are living vendor games. This gaming information is presented by means of Newgioco,” according to a assertion.

Thanks to the aforementioned USB acquisition, Elys has exposure to four US states. The firm explained it strategies “to build a major presence” in each Canada and the US in the coming months.