Elys Activity Technologies Drops Canada Equity Listing

Posted on: January 1, 2022, 03:37h. 

Final up-to-date on: January 1, 2022, 03:37h.

Elys Activity Know-how (NASDAQ:ELYS), a gaming know-how provider, delisted its Canada-traded shares.

Elys Match Technological innovation CEO Matteo Monteverdi. The enterprise is delisting in Canada, but will keep on trading in the US. (Graphic: Proactive Buyers)

The decision will come nearly a year to the day that the sports activities betting and interactive gaming technologies corporation introduced a listing on Canada’s NEO Exchange. That exchange, which drives about 13 per cent of once-a-year investing quantity in Canada, is house to above 100 shares and funds.

The business has voluntarily delisted from the NEO at the near of trading on Wednesday, December 29, 2021, and its shares of prevalent inventory will carry on to be detailed and trade on Nasdaq less than the image ELYS,” according to a assertion issued by Elys.

With a market capitalization of just $71.42 million, Elys is a single of the smaller publicly investing corporations with sports wagering publicity.

Tough Yr for Elys Stock

Like so numerous athletics wagering equities, Elys Activity Engineering languished through a rough 2021 with the shares shedding 48.64 %.

Elys commences 2022 following sliding 11.4 p.c in the final week of previous 12 months and 63.41 % down below its 52-week large. Nonetheless, there may possibly be some rays of hope for the downtrodden gaming stock to start out the new calendar year.

Last year, the firm won a license to run retail sportsbooks in Washington, DC. The Elys allow in Washington, DC could be the outcome of the company’s acquisition of Bookmakers Company US, which was introduced in early July. At that time, it was uncovered the business, regarded as US Bookmaking (USB), has a company settlement in Washington, DC that goes into result later on this calendar year.

Past month, the organization explained thirty day period-above-thirty day period wager tickets improved 200 p.c in November at its Washington, DC procedure. Profits jumped to $67,000 from $43,000 in Oct.

Worldwide Attract

In late December, Elys introduced a new partnership with Playtech, leveraging its Newgioco model to improve its presence in the Italian iGaming industry. Which is appropriate mainly because Italy is the Eurozone’s third-major economic system and property to a experienced, vivid gaming market place.

“With the Playtech assortment of gaming written content, Elys’ online and mobile casino now incorporates 31 companies that give prospects in Italy up to 1,300 slots as nicely as 100 tables and live seller game titles. This gaming material is presented by way of Newgioco,” in accordance to a assertion.

Many thanks to the aforementioned USB acquisition, Elys has exposure to 4 US states. The organization stated it designs “to build a substantial presence” in both Canada and the US in the coming months.