Van gave me this idea a ways back-Italian outfit.- It crashed with all the sports gaming stks.
Elys Game Technology sees FY21 revenue up 22%, consensus $47.46M 08:07 ELYS Elys Game Technology reported that management expects revenues to increase by approximately 22% to approximately $45.5M for the fiscal year ended December 31, 2021, subject to final audit verification, compared to approximately $37.3M for the fiscal year ended December 31, 2020. The company said, "Additionally, we expect web-based gross gaming revenue to increase by approximately 74% to approximately $54.9 million for the fiscal year ended December 31, 2021, subject to final audit verification, compared to approximately $31.6 million for the fiscal year ended December 31, 2020. Our recent entry into the US B2B market has had a very positive effect on our service related business, although still relatively small, our revenues in this segment have grown to approximately $1 million for the fiscal year ended December 31, 2021, an improvement of approximately 627%, subject to final audit verification." Michele Ciavarella, executive chairman of Elys, commented, "We are very pleased with the growth of our European operations demonstrating the value of early investments we made to develop our Newgioco brand in the Italian market and the streamlining of operations under the Multigioco subsidiary thereby eliminating the duplication of license management.
Multigioco benefited from the completion of our Ulisse operations which were organized in the EU while operating in Italy. As reported in mid-2021, the Company phased out the Ulisse operations due to the impact of COVID restrictions on their land-based distribution resulting in a non-cash impairment of $4.8 million. We expect to win further B2C margin improvement by streamlining Multigioco operations as we grow our omni-channel distribution strategy and establish plans to roll-out the land-based channel of our powerful Elys Gameboard technology on a B2B basis in Europe."
