Elys Game Technology and Lottomatica SpA Conclude Binding Terms Sheet for Development of North America-Focused Custom Sports Betting Platform
NEW YORK, NY/ACCESSWIRE/January 25, 2022/ Elys Game Technology, Corp. (“Elys” or the “Company”) (NASDAQ:ELYS)(BER:3UW), an interactive gaming and sports betting technology company, today announced a binding term sheet with Lottomatica SpA (“Lottomatica” ) , a preeminent global brand and leader in the Italian gaming market, which describes entering into a definitive agreement and ancillary agreements to design, develop and maintain a personalized sports betting technology platform (the “Product”) focused on Lottomatica’s North American growth initiatives.
“We are very pleased to partner with industry leader Lottomatica and their proven leadership on global sports betting opportunities as we continue to expand our operational footprint,” said Michele Ciavarella, Executive Chairman of Elys Game Technology. This partnership adds a further evolution to Elys’ innovative sports betting technology and is another example of our modular architecture’s ability to integrate seamlessly. We look forward to working closely with Lottomatica and its business partners to provide a competitive, flexible and efficient technology solution throughout this long-term relationship. We believe this partnership could also foster significant synergies in the online gaming industry, both domestically and internationally, and is positioned to generate long-term shareholder value for both companies. »
“This agreement will allow Lottomatica to accelerate its plans for North America by leveraging Elys’ deep know-how and strong technology in this segment,” said Giuseppe Portoricco, Senior Vice President of Lottomatica. for North America. “We are delighted to collaborate with Elys on these developments.”
Under the terms of the agreements, Elys will bring a commercial partition of its betting technology to be integrated into the Lottomatica environment. Elys will also ensure the functional operation of the Product through dedicated engineering and technical service teams and will collect tiered license fees on the operation of the Product. In addition, subject to regulatory approvals, if any, the parties may also collaborate on additional growth initiatives.
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a global B2B gaming technology company operating in multiple countries around the world, with B2C online and land-based gaming operations in Italy. Elys offers its customers a full range of leisure gaming products and services, such as sports betting, electronic sports, virtual sports, online casino, poker, bingo, interactive games and slot machines. in Italy and is present in five States of the American market. Elys’ vision is to become a world leader in the gaming industry through the development of pioneering and innovative technology.
The Company provides betting solutions, online operator services, 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.
Lottomatica SpA is the first group authorized by the Customs and Monopolies Agency in the Italian gaming market and one of the main players in Europe. It is active in three product areas: sports betting, online games, amusement and entertainment devices (AWP and ALV). Lottomatica can count on the expertise of more than 16,000 people, including direct employees and employees of the specialized franchise network.
With approximately €1.6 billion in revenue and €22 billion in bets handled in 2019 on an aggregated basis, Lottomatica is the market leader across all business segments and provides safe and engaging gaming experiences on all sales channels. Lottomatica has a customer base of approximately 800,000 online customers, a franchise network of approximately 3,000 outlets offering sports betting, 1,400 gaming halls, 13,600 tobacconists/bars and a proprietary network of approximately 120 gaming halls in Italy.
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. Such statements are identified by the use of the words “may”, “believe”, “anticipate”, “” intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential”, “project” and similar expressions intended to identify forward-looking statements and include statements regarding negotiating and entering into definitive agreements and ancillary agreements with Lottomatica regarding the development and supply of sports betting technologies and services for the exclusive use of Lottomatica under an indefinite term license for the supply of sports betting on a B2C basis, that all conditions precedent to such definitive agreements will be satisfied, whether the closing of such definitive agreements will occur, whether the Company will receive license fees and t whether the Company will achieve i its objectives. 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, which could cause actual results differ materially from current expectations and assumptions from those expressed or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to negotiate and enter into definitive and ancillary agreements with Lottomatica as anticipated, to develop and deliver technology and sports betting services for the exclusive use of Lottomatica under an indefinite license as intended, to provide a dedicated engineering team and technical services as intended, to integrate our platform profitably as intended and to win licensing fees as expected, the duration and scope of the COVID-19 outbreak worldwide, including the impact on state 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 subsequent filings with the United States Securities and Exchange Commission, including periodic reports subsequent reports on Form 10-Q and current reports on Form 8-K. The information in this release speaks only as of the date of this release, and the Company undertakes 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.
Company details :
Elys Game Technology, Corp.
Michèle Ciavarella, Executive President
Email: [email protected]
KCSA Strategic Communications
Valter Pinto or Jack Perkins
Email: [email protected]
THE SOURCE: Elys Game Technology, Inc.
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