viewElys Game Technology

Elys' new US sportsbook platform is a powerful gaming offering in the North American market

It recently posted third-quarter revenue of $9.7 million as the company sprinted past its goal of securing 100,000 online gaming accounts in 2020

Elys Game Technology - Elys is a powerful gaming offering in the North American market
Elys president and incoming CEO Matteo Monteverdi said he sees "very solid foundations" for the scope of the company's business in North America

Elys Game Technology Corp (NASDAQ:ELYS) (FRA:3UW) president and incoming CEO Matteo Monteverdi said the company’s new ELYS Sportsbook platform is a “powerful gaming offering in the North American market.” 

The company, formerly known as the Newgioco Group, is launching its new Elys Sportsbook platform with sports bar operators in Washington DC.  The Elys platform helps licensed operators quickly analyze risk by using sophisticated tech-based risk management, processing technology and adaptive business intelligence. 

“The company has a proven and successful iGaming solution, combined with a sound technology stack,” Monteverdi told Gambling Insider. 

READ: Elys Game Technology sees 3Q revenue soar 44% as web gaming turnover growth climbs

“More specifically, Elys has been operating in the sports betting and online competitive betting and gaming markets for several years. The product’s value proposition is what I define as a ‘true cross-channel’ offering, which not only allows the retail and digital/mobile channels to co-exist, as any typical model of mobile and retail solution would, but it also allows the two models to interact and work seamlessly together in more advanced ways.”

Monteverdi offered an illustration of how Elys was a cross-channel offering.

“For example, an individual can go to a retail location and decide to top-up their digital account through either a manned terminal or a self-service kiosk; choosing to use any payment method, even cash, without having to jump through the hoops typically involved in this type of transaction,” explained Monteverdi.

“Such a model is currently in use and distributed across thousands of retailers in Italy. This offering construct, combined with a state-of-the-art sports betting platform, capable of operating in any regulated market and scalable but flexible at the same time, makes Elys a powerful gaming offering in the North American market.”

The company has completed the process of developing its Elys US sportsbook platform, while certifying the retail and kiosk terminals, and is in the formal process of seeking its first US sports betting license in Washington DC.

According to Monteverdi, in this initial phase, Elys can best “serve mid-size operators,” yet the company has clear capabilities to address large operators with multiple locations.

“Given Elys Game Technology’s organic business in Italy, our organic growth opportunity in Europe and the great fit for our business model here in the US, I see very solid foundations.”

Incidentally, the new incoming CEO holds both US and Italian citizenship.

“I know the European gaming market and I have spent the last 10 years working here in the US. It’s a unique alignment of the stars, given the phase Elys is going through,” said Monteverdi.

The company recently posted third-quarter revenue of $9.7 million as it easily surpassed its goal of securing 100,000 online gaming accounts before the end of 2020.

Elys currently offers operators an innovative platform that can be used for sports wagering, virtual games, lottery and casino games, with the capability of managing tens of thousands of pre-match events and more than 200 live events.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Quick facts: Elys Game Technology

Price: 5.94 USD

Market: NASDAQ
Market Cap: $99.2 m

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