Elys Game Technology Comments on Canadian Legislation to Legalize Single-Event Sports Wagering in Canada
Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq:ELYS), an interactive gaming and sports betting technology company, today commented on proposed Canadian Federal Government legislation to legalize single-event sports wagering in Canada (Bill C-13 "An Act to amend the Criminal Code (single event sport betting)."
The proposed changes would give provinces and territories the ability to offer single-event sport betting products and the discretion to manage single-event sport betting in their respective jurisdictions. In provinces and territories that choose to offer single-event sport betting, Canadians would have an opportunity to engage in this activity in a regulated environment, either online or in physical facilities.
“We commend Canada’s Minister of Justice and Attorney General for introducing this important legislation in support of single-event sports betting,” stated Michele (Mike) Ciavarella, Chairman and CEO of Elys Game Technology, Corp. “We believe there is strong bi-partisan support for this bill and, if passed, would have a very positive impact for both Elys, given our strong leadership in the space, as well as the overall industry, which has been negatively impacted by the COVID-19 pandemic. We estimate that approximately CDN$80 Billion is wagered on sports each year in Canada. With our established relationship foothold in Canada, sportsbook experience and cutting-edge Elys betting technology, we believe there is a tremendous opportunity to expand our business across the provinces.”
About Elys Game Technology, Corp.
Elys Game Technology, Corp., 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, e-sports, 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. The Company has completed the product regulatory requirements to commence B2B operations in the United States.