Elys Game Technology Achieves Record Annual Revenue of $ 37.3 Million for 2020
Online gaming revenue increases 54% compared to same period last year
Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq: ELYS), an interactive gaming and sports betting technology company, today provided a business update and released financial results for the year ended December 31, 2020. Full financial results are available in the form 10-K of the company, as filed with the Securities and Exchange Commission. April 12, 2021, available on www.sec.gov.
“I am very happy to report that Elys not only achieved record sales for 2020, but also took an important milestone by surpassing our goal of half a billion dollars, reaching almost 575 million dollars. dollars in gaming revenue despite the challenges posed by the global pandemic. These results reflect the success of our omnichannel approach, combining the best of online and land-based retail betting, with balanced product diversification supported by our committed management teams, ”said Michele (Mike) Ciavarella, executive chairman of Elys Game Technology, Corp.
Matteo Monteverdi, CEO of Elys Game Technology, Corp., commented, “Our multi-faceted approach has allowed us to adapt to changing market conditions and continue to grow. The increase in revenue to $ 37.3 million for full year 2020 reflects strong growth in our online gaming revenue, which increased 54% from 2019. This increase was offset by a drop in our land games revenue, which was impacted by the closure of betting stores in Italy due to the COVID-19 pandemic. “
Mark Korb, CFO of Elys Game Technology, Corp., added: “We believe we are very well positioned as we approach 2021 to deliver on our vision of creating an end-to-end sports betting solution. leading for European and American game operators. We continue to carefully manage expenses and have a strong balance sheet with over $ 18.9 million in liquidity as of December 31, 2020, which we believe will be more than sufficient to fund our planned geographic expansion in North America. . “
Mr. Ciavarella concluded: “Through product readiness with building our ELYS US platform, strategic client selection and sequence of states in which to open, we believe 2021 could represent an inflection point. major for society. Elys is run by a very experienced team, with cutting edge betting technology that we believe can be quickly adopted by B2C operators across the United States, and we continue to believe that our strategy of leveraging disciplined market could extract long-term value for our investors and shareholders. “
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a global B2B game technology company operating in multiple countries around the world, with B2C online and land-based gaming operations in Italy. In Italy, Elys offers its customers a full range of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slot machines.
The Company’s innovative betting solution serves online operators, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.
Investors can also find us on Twitter @ELYS_gaming.
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “may”, “believe”, “anticipate”, “” have l ‘intention to’, ‘estimate’, ‘expect’, ‘may’, ‘continue’, ‘anticipate’, ‘potential’, ‘plan’ and similar expressions which are intended to identify forward-looking statements and include statements regarding the Company being very well positioned by 2021 to implement its vision of creating a leading end-to-end sports betting solution for European and US gaming operators, with the Company’s cash position being more than sufficient to fund its planned geographic expansion in North America, with 2021 representing a major inflection point for the company, as the company’s cutting-edge technology is rapidly adopted by operators B2C across the United States, and the company’s disciplined go-to-market strategy extracting long-term value for our investors and shareholders. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict and which could cause results to be achieved. actuals differ materially from current expectations and assumptions from those stated or implied by forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to provide an end-to-end sports betting solution for European and US gaming operators as expected, the The Company’s ability to deploy and finance its planned geographic expansion in North America, with 2021 representing a major inflection point as expected, with our cutting-edge technology being rapidly adopted by B2C operators across the United States as expected, our strategy disciplined marketing could extract long-term value for our investors and shareholders, as it is believed, the duration and extent of the COVID-19 epidemic around the world, including the impact on national and local economies, and the risk factors described in the company’s annual report on Form 10-K for the year ended December 31, 2020 and its filings subsequent reports to the United States Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this press release is provided only as of the date of this press release, and the Company assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unforeseen events, except as required by law.
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