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Elys Game Technology makes market debut today after name change from Newgioco Group

“With the Company shifting focus towards the large and rapidly developing U.S. sports betting market, the Company is leveraging its innovative Elys technology and extensive know to deliver a world-class, end-to-end sports betting solution for gaming operators around the world”

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The new name, Elys, comes with a focused and energetic team, to be introduced over the following few days

Elys Game Technology, Corp. (NASDAQ:ELYS), an interactive gaming and sports betting technology company, has changed its name from Newgioco Group, Inc., with its trading symbol to also change from NWGI to ELYS at the opening of the markets on November 10, 2020.

The group said the new name, Elys, comes with a focused and energetic team, to be introduced over the following few days, to help unlock the global potential of the company’s leading-edge gaming and betting software Elys Gameboard.

READ: Newgioco’s ELYS Sportsbook offers licensed US operators cutting-edge betting technology

“Since inception in 1989 as Newgioco, the Company has built a robust B2B and B2C multichannel gaming business with over 130 land-based betting-shop, 1,200 webshops and thousands online players. The name Newgioco, which translates to Newgame, is a well-respected brand in the regulated Italian market and since 2016 has been a showcase to develop and prove our state-of-the-art gaming technology designed by our talented engineers,” stated Michele (Mike) Ciavarella, CEO of Elys Game Technology in a statement

“The Company’s Italian operations form a foundational pillar of strength for our business where we operate profitably. Elys leadership expects to continue to build on this experience in new markets as we grow forward.”

“With the Company shifting focus towards the large and rapidly developing U.S. sports betting market, the Company is leveraging its innovative Elys technology and extensive know to deliver a world-class, end-to-end sports betting solution for gaming operators around the world,” added Ciavarella.

There is no consolidation of the company’s share capital in connection with the name change. As a result, shareholders are not required to exchange their existing share certificates for new certificates bearing the company’s new name. The name change does not affect the company’s share structure or the rights of the company’s shareholders, and no further action is required by existing shareholders.

Elys Game Technology is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. In Italy, Elys offers its clients a full suite of leisure gaming products and services, such as sports betting, esports, virtual sports, online casino, poker, bingo, interactive games and slots.

The company’s innovative wagering solution services online operators, casinos, retail betting establishments and franchise distribution networks. It has completed the product regulatory requirements to commence B2B operations in the United States. 

Contact the author at jon.hopkins@proactiveinvestors.com

Quick facts: Elys Game Technology

Price: 5.92 USD

NASDAQ:ELYS
Market: NASDAQ
Market Cap: $98.7 m
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