Welcome to our dedicated page for Elys BMG Group news (Ticker: ELYS), a resource for investors and traders seeking the latest updates and insights on Elys BMG Group stock.
Elys BMG Group, Inc. (OTC: ELYS) delivers cutting-edge interactive gaming and sports betting technology solutions for digital platforms and physical venues. This news hub provides investors and industry observers with essential updates about the company’s strategic developments, regulatory compliance efforts, and market expansion initiatives.
Access consolidated coverage of ELYS’s press releases, including product launches, partnership announcements, and financial disclosures. Our repository ensures you stay informed about innovations in sportsbook installations, B2B technology licensing agreements, and advancements in secure betting platforms.
Key updates include earnings reports, executive leadership changes, new market entries, and technology upgrades. The curated content supports analysis of ELYS’s position in the competitive gaming sector while maintaining strict adherence to factual reporting standards.
Bookmark this page for streamlined access to verified information about Elys BMG Group’s operational milestones. Check regularly to monitor how the company continues bridging online gaming experiences and retail betting ecosystems through its integrated technology solutions.
Elys Game Technology reported a 2.7% increase in Euro-based turnover for the fiscal year ended December 31, 2022, reaching €730.5 million. However, due to a strong U.S. Dollar, reported turnover decreased by $71.7 million to $770.2 million. The company anticipates Gross Gaming Revenues (GGR) from Euro operations to grow by 3.7% to approximately €50.1 million. U.S. facing operations saw remarkable service-based revenue growth of 150.2% to $2.6 million. Notably, gaming taxes increased by €1.4 million to €12.1 million, representing a 13.1% rise. However, impairment charges are estimated at $20.6 million, impacting overall profitability.
Elys Game Technology has entered into an agreement with Partnersat7238thstse, LLC to operate a sportsbook at The Ugly Mug restaurant and bar in Washington, DC. This partnership aims to establish Elys' eighth retail sportsbook in the area, enhancing local business opportunities in sports betting. Located 10 blocks from Nationals Stadium, The Ugly Mug is expected to create a vibrant atmosphere for sports fans. Michele Ciavarella, Elys Executive Chairman, stated that this collaboration is designed to bolster local entrepreneurs and state resources. The company continues to expand its offerings in the growing gaming market.
On February 9, 2023, Elys Game Technology announced a partnership with T & L Hospitality to operate a sportsbook in Washington, DC. This venue is expected to feature an express betting area and a full sportsbook lounge, enhancing Elys' local presence with its seventh retail sportsbook solution in the area. The agreement has an initial three-year term, with potential two-year extensions. Elys aims to expand its distribution model in DC and other jurisdictions, leveraging local businesses to enhance post-pandemic revenue opportunities. The company believes this model positions it as a potential market leader in the U.S. and Canada.
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