Elys Game Technology Seeks Canadian Investors

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Elys Sports Betting Platform now listed on NEO Exchange.

Elys Game Technology (formerly Newgioco Group) reached an historic milestone this week. The company, which develops gaming and betting software solutions for the iGaming market, is now listed on the Canadian NEO Exchange. What makes the inclusion so special is that it places Elys in the record books as the very first public company to achieve dual-listing on both the NEO Exchange, and the Nasdaq Capital Market.

Dual Listing for Elys Sports Betting Solutions

The inclusion of Elys on the NEO Exchange lands almost exactly on the one-year anniversary of its listing on the Nasdaq. Elys Game Technology became an exchangeable commodity on the Nasdaq on December 27, 2019. Its debut appearance on the Toronto-based NEO Exchange occurred just this morning, December 30, 2020. The Canadian FinTech company currently hosts more than 100 corporate and ETF exchange listings.

A press release announcing the dual listing confirmed Elys’s market capitalisation to be approximately $109.6 million, according to the company’s Q3 filings. In the period ending September 30, 2020, Elys revenue soared 43.6% YoY, attributed to steady growth in web-based gaming. Furthermore, the company exceeded its ambitious goal of recording 100,000 online gaming accounts before year’s end, suggesting exceptional performance in online and mobile betting sectors.

Inclusion on the Canadian FinTech market is crucial to Elys Game Technology’s new goal of penetrating the up-and-coming Canadian sports betting market. Last month, the federal government introduced fail-proof legislation that will legalise single-event betting on sports. If passed – and by all accounts, it should be – this move will give the international brand an easy inlet to participate in a market that’s sure to be worth billions.

Elys Seeks “Foothold in the Canadian Market”

“Our listing on the NEO Exchange is an important milestone on many levels for Elys, particularly as we build on our initial go-to-market strategy in the rapidly growing US market and develop our foothold in the Canadian market,” said Michele Ciavarella, former CEO and current Chairman of Elys Game Tech.

“Recently proposed legislation in Canada would legalise single-event sports wagering and is expected to increase the CDN$80bn (US$62.57bn) wagered on sports each year in Canada,” added Ciavarella.

He went on to reveal the group’s belief that, with this new listing, Elys is “extremely well positioned to capitalise on this growing market and believe this listing will provide us greater exposure among Canadian investors as we work to execute on our strategy throughout North America.”

Michele Ciavarella fulfilled the role of Chiefe Executive Officer and Chairman of Newgioco Group, Inc. since 2011, and was instrumental in the recent rebranding of Newgioco to Elys Game Technology in early November 2020. The company announced the appointment of then-President Matteo Monteverdi as the new CEO two weeks later, with Ciavarella continuing his role as Executive Chairman of the Company.

About Elys Game Technology

Established in 1998, Elys Game Technology is a multi-national group with offices in California, Austria, and Italy. The company develops technologically advanced software solutions for sports betting and other online gambling verticals. The full-service platform operates in multiple regulated B2B and B2C markets. Elys sports betting solutions are already well established in Europe, with a primary focus on expansion throughout North America.