NEW YORK – Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq:ELYS)(BER:3UW), an interactive gaming and sports betting technology company, announced today that the Company has entered into retail distribution agreements to deploy its Virtual Generation Limited (“VG”) virtual sports wagering and amusement products throughout Italy.
The agreement is expected to place VG products in approximately 5,000 retail locations operated by both the Company’s Multigioco subsidiary and other licensed operators in the Italian market that would allow patrons to wager on a variety of high-definition virtual sports events such as pre-recorded greyhound and horse racing, virtual horse racing, and Italian league play virtual soccer. With these deployments in the robust regulated Italian market in addition to games such as English league virtual soccer, Keno, Colors, American Roulette and others specifically developed for localized markets, VG is now broadly operating in over 110 global markets. The Company’s objective is to generate accretive organic incremental revenue of approximately $5 – $7 million from our suite of virtual products annually.
“We expect our investments in Virtual Generation to pay-off quickly with deployments in multiple regulated markets including Europe, U.S.A. and Canada, Africa, Asia and in April 2020, VG became the first certified provider of online virtual games through Newgioco Colombia based in Bogota, and is now one of the leading providers of localized virtual sports products in South America,” stated Michele Ciavarella, Executive Chairman of Elys. “VG’s efficient mathematical algorithm and certified random number generator technology could offer our retail partners a superior economic proposition and flexibility compared to many peer competitors in the space, while the highly versatile technology stack is perfectly suited to service all potential operator segments through web and mobile applications as well as land-based client and desktop solutions. VG’s pipeline of new virtual sports interface and graphics development continues to impress potential customers, and we believe that our competitive advantages are essential differentiators that could result in the rapid adoption and global growth of our virtual sports products over the coming years. The growth of our virtual product offering is expected to complement our Elys sportsbook expansion in the U.S. and Canadian betting markets and rapidly contribute to our profitability roadmap and schedule.”
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. Elys offers its clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slots in Italy and has operations in five states as well as the District of Columbia in the U.S. market. Elys’ vision is to become a global leader in the gaming industry through the development of pioneering and innovative technology.
The Company provides wagering solutions, services online operators, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.
Investors may also find us on Twitter @ELYS_gaming.
