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 reports financial and operating results for the nine and three months ended September 30, 2021.
Financial and operational highlights since the start of the year (comparable to the same period the previous year):
The amount of bets increased by 77% to reach $ 626.9 million.
Gross gaming revenue (“GGR”) increased 47.2% to $ 42.6 million.
Total revenue increased 37.3% to $ 33.9 million.
Sports betting remains at 14.2%.
Net operating loss of $ 6.4 million, an increase of 371.1%.
Financial and operational highlights for the third quarter of 2021 (comparable to the same period the previous year):
The amount of bets increased 13.9% to $ 163.7 million.
The GGR fell 9.3% to $ 10.3 million.
Total sales decreased 17.2% to $ 8 million.
Sports betting remains at 14.8%.
Net operating loss of $ 3.1 million, an increase of 408.8%
“The company continues to grow its core business, which translates into strong increases in the grip and record revenues of $ 37.3 million for the first nine months of the year and $ 8 million in the third quarter. 2021. consecutive quarterly sports betting holdings in double digits, ”said Michele Ciavarella Elys’ Executive Chairman. “Spending in the first nine months remained focused on technology development and product preparation for the expansion of our operations in the United States and Canada. ”
Mr. Ciavarella continued, “In the third quarter of 2021, we also achieved key milestones with the closing of the acquisition of Bookmakers Company US LLC and the integration of their trading and risk management team, and the granting of from our first US license, which led to the start of our first US operations at the Grand Central Restaurant and Bar in Washington, DC. In addition, after the quarter, we also announced major developments regarding our expansion into the United States through the partnership with Ocean Casino Resort in New Jersey and the completion of our agreement with Jefferies, LLC. ”
Operational highlights during the third quarter of 2021 to date:
Elys was granted a provisional MSP license and Grand Central Restaurant was granted a license to operate a bookie within its restaurant and bar in Washington, DC with a grand opening on October 4, 2021.
DC Lottery reported encouraging results from taking Grand Central’s sportsbook by 21%.
Entered into a Memorandum of Understanding with the New York State Restaurant Association to promote and facilitate opportunities for restaurant establishments to participate in the New York sports betting industry.
Completion of the acquisition of Bookmakers Company US LLC, a United States-based sports betting company.
Suspected agreements with six tribal casinos in 4 states.
Partnered with Ocean Casino Resort, Atlantic City, New Jersey.
Financial results for the periods ended September 30, 2021:
The Company continued to achieve strong year-over-year growth on a mixed revenue basis across land and interactive channels and all products combined, including its virtual sports products. Organic growth in European operations processed a record $ 626.9 million and $ 163.7 million in betting processing year-to-date and in the third quarter, respectively. The conversion of bet handles to gross gaming revenue (“GGR”) reached $ 42.6 million and $ 10.3 million during the cumulative and third quarter periods, respectively, resulting in Record total combined revenue of $ 33.9 million and $ 8 million after accounting for gaming taxes. for year-to-date and third quarter, respectively.
The interactive online channel also saw a year-over-year gain of 104.5% in nine months and 37.8% in three months, while ground operations remain closed due to lockdowns related to COVID .
The Company continued to invest in technology, licensing and personnel as well as legal, accounting and due diligence costs allocated to the preparation of our registration statement on Form S-3 and the registration agreement. market sale with Jefferies, LLC. and administrative fees of $ 14 million and $ 5.1 million for the nine and three months ended September 30, 2021, respectively. Costs related to platform development and infrastructure construction in the United States and Canada contributed most of the expense, resulting in a consolidated net operating loss in line with management expectations. $ 6.4 million and $ 3.1 million for the nine and three months ended September 30, 2021, respectively.
Conference call and webcast
The Company will host an Investor Day webcast to discuss results and provide updates on business developments on November 22, 2021 at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) . Investors interested in participating in the live call can access the webcast by registering at: https://www.webcaster4.com/Webcast/Page/2766/43807. The time and date of the event are subject to change and the webcast will be available in the Investors section of the Company’s website at https://ir.elysgame.com/.com and archived for 90 days.
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. 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 slots in Italy and operates through its wholly-owned subsidiary in the United States. Bookmaking brand in 4 states of the American market.
The Company’s innovative betting solution, services to 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.
Statements in this press release that are not historical facts are “forward-looking” statements and “safe-haven statements” under the Private Securities Litigation Reform Act of 1995 that involve risks and / or uncertainties, including risks and / or uncertainties as described in public filings with the Securities and Exchange Commission.