Elys Game Technology, Corp. has launched a US facing online sportsbook, dubbed SportsBet.com.
In the release, Elys reveals that it will expand its online sports betting footprint into multiple American states, either through direct licensing or market access partnerships. Elys current has operations in D.C. and New Jersey. The company also operates sports betting companies in Europe and Canada.
Multigioco S.r.l, a Elys Game Technology brand, holds at least 1% of the Italian gambling market, across online and retail sports betting. The release does not indicate where the SportBet brand will launch initially, nor which states it has specific market access.
The company outlines that it will create an “innovative and immersive way to engage with and bet” for American customers, on their favorite sports. It also indicates that it will build unique features specifically tailored to American betting styles.
Michele Ciavarella, Executive Chairman of Elys Game Technology, Corp commented: “The launch of www.SportBet.com is a pivotal move towards accelerating our North American go-to-market strategy under the new Elys America business unit.”
She stated, “SportBet.com is a clear sports betting website that highlights our focus in the U.S. and our aim to be seen as a leading competitor in this growing market. We are committed to providing an unmatched sports betting experience by blending innovation, reliability, and responsible gaming practices to gain our players’ trust.”
Elys Game Technology is listed on NASDAQ, and per latest financial reporting, the three months ended 30 June 2023, the company recorded $11.3 million of revenue, an increase year-over-year of 9.7%.
The company posted a loss from operations of $3.5 million for the three-months ended by 30 June, 2023. The loss between income taxes was $3.7 million, but after an income tax provision, the company posted a total net loss for the three months ended 30 June, 2023 of $3.6 million.