Elys Game Tech Expands Newgioco Brand in Italy Through New Playtech Deal, US Next
Posted on: December 20, 2021, 09:19h.
Last updated on: December 21, 2021, 01:23h.
Elys Game Technology is diving deeper into the Italian iGaming market. The gaming and sports betting technology company announced today a new partnership with Playtech. The company’s Newgioco brand will now include content from the gaming software development company.
Elys continues to grow its international iGaming footprint. Including Playtech’s content now gives its Italian customers access to 31 different providers. That means that the online gaming platform can offer users as many as 1,300 online slot titles and 100 gaming tables and live dealer games.
In addition to expanding operations in Italy, the company is also dedicated to grabbing a significant piece of the North American market. There, it hopes to “establish a significant presence over the coming months.”
Elys is already live in the US, offering its USBookmaking brand to four states in the country.
Elys Gaining Strength in the Global Gaming Market
Elys was previously known as Newgioco when it was catering primarily to the Italian and European markets. In November of last year, it rebranded to Elys Game Technology to better reflect its global ambitions and, in particular, its focus on the US market.
The NASDAQ-listed company began concentrating on the US sports betting industry, determined to offer a “world-class, end-to-end sports betting solution,” according to Elys Executive Chair Michele Ciavarella. However, that coincided with a loss in revenue.
But things have improved significantly since then.
The company launched its North American betting platform in October of this year. However, since then, metrics have trended upward in November and December, according to an update from last week. This has reflected significant growth over the past year.
More Global Acceleration Coming
Elys is now planning to accelerate its US growth in the new year. This will be accomplished by expanding its betting technology beyond small businesses. This will be propelled, in part, through a partnership with Atlantic City’s Ocean Resort Casino. This expansion is expected to begin in March 2022.
The significant month-over-month growth across all metrics, in only our second month live, and with little to no local marketing, is an early validation of our unique go-to-market model, and the effective combination of our cutting-edge technology combined with the skill of USBookmaking,” said Ciavarella.
Elys is live at the Grand Central Restaurant, Bar and Sportsbook in Washington, DC. In November, the sportsbook reported a handle of $288,000. That’s a good figure for a small operation, and also represents a month-over-month increase of 139%.
Trading under the ticker ELYS on NASDAQ, the company reached a recent high of US$6.62 on August 31. But it began to fall immediately after. As of the afternoon of December 20, it was trading at US$3.30.
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