Elys Game Technology comments on the state of legislation to legalize single-event sports betting in Canada
NEW YORK–(COMMERCIAL THREAD) –Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq: ELYS) (NEO: ELYS) (BER: 3UW), an interactive gaming and sports betting technology company, today commented on the state of legislation, Bills C-218 and C-13, to legalize single-event sports betting in Canada. The Company continues to monitor legislative developments regarding Bill C-218 which passed on February 17e with overwhelming bipartisan support by a margin of 303 votes to 15 against. Bill C-218 is now the subject of hearings before the justice committee. Meanwhile, Bill C-13, an act to amend the Criminal Code, a similar bill regarding the legalization of single-event sports betting, is expected to be considered by the House of Commons in the near future with additional hearings. scheduled for March 9.e and 11e.
The two proposed bills concern changes to the federal penal code aimed at decriminalizing ad hoc sports betting. The proposed changes would allow provinces and territories to regulate and allow single-event sports betting, potentially paving the way for lucrative opportunities for private businesses and service providers to access a legalized market in Canada.
“We are very encouraged by the strong bipartisan support that Bill C-218 has received. While there are a number of steps that must be taken before laws are enacted and an active open market can develop, this vote is another important step towards being able to offer a safe and regulated product. to the millions of sports and esports fans in Canada, ”said Michele (Mike) Ciavarella, Executive Chairman of Elys Game Technology, Corp. “We expect Canadian laws to mimic the free market approach taken in Europe over the past two decades. The regulations allow the government to open up the market and secure jobs in the industry for Canadians, as well as offer competitive betting to Canadian players across the country. As this legislative process develops in Canada, Elys expects to continue to play an important role in helping current Canadian operators and businesses prepare their electronic gaming and sports betting offerings through our well-established experience in the industry. .
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, services to online operators, casinos, retail betting establishments and franchise distribution networks. The Company has met the product regulatory requirements to begin its B2B business in the United States.
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 strong bipartisan support for proposed Canadian legislation to legalize single-event sports betting in Canada, allowing provinces and territories to regulate and allow single-event sports betting, potentially paving the way for lucrative opportunities for them. private companies and service providers to access a legalized market in Canada, if the bill is passed, allowing the government to open up the market and securing jobs in the industry for Canadians, as well as providing a safe and regulated product to Canadian gamers across the country and playing an important role in helping current Canadian operators and businesses prepare their electronic game offerings and sports betting. 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. Significant factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to offer single-event sports betting products and the discretion to manage single-event sports betting to companies. Canadians as provided for in the law, having strong bi-partisan support to pass the law, the law, if passed, allowing provinces and territories to regulate and allow single-event sports betting as intended, potentially opening the path to lucrative opportunities for private companies and service providers to access a legalized market in Canada as intended, allowing the government to open up the market and secure jobs in the industry for Canadians, as well as to provide a safe and regulated product to Canadian players across the country, as intended, and the Company playing an important role t helping current Canadian operators and businesses prepare their i-gaming and sports betting offerings through our well-established i-industry experience as expected, duration and extent of the COVID epidemic- 19 worldwide, 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, 2019 and its subsequent filings with of 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.