Elys Game Technology Closes US Bookmaking Acquisition
Summary
The transaction represents a fundamental strategic partnership that completes an important pillar of the Company’s business plan to build out in the U.S. and Canadian sports betting markets. The combination of USB’s highly experienced bookmaking team and a technologically advanced and cutting-edge software platform, we expect, will be a formidable parlay in the sports wagering market and we are eager to present these strengths to our pipeline of potential clients.” “We are very proud to welcome USB and all their talented team that share the same passion and dedication for our business that our core family of operations in Europe has fostered during the past two decades,” stated Michele Ciavarella, Executive Chairman and Interim CEO of Elys. “We are highly optimistic that the addition of USB to our European expertise could accelerate our growth and product innovation, while solidifying a position at the forefront of our industry servicing large and small casino operators, as well as neighborhood establishments like restaurants and bars across the United States and Canada as regulations permit.” Mr. Ciavarella continued, “We continue to make measurable progress in our previously stated goals to diversify our business into global operations and remain disciplined and focused as we execute on our plans each year. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements and include statements regarding the USB acquisition providing significant boost to client base and revenue when fully integrated, the combination of USB’s highly experienced bookmaking team and a technologically advanced and cutting-edge software platform being formidable parlay in the sports wagering market, the addition of USB to the Company’s European expertise accelerating the Company’s growth and product innovation while solidifying its industry position in servicing large and small casino operators, as well as neighborhood establishments, the combination with USB being transformational, leveraging the synergies of the Company’s rapidly growing team and expected future business partnerships to drive long-term growth and shareholder value, and estimates that by 2025, 50% of the U.S. will have access to legal sports betting, potentially making the U.S. one of the largest regulated sports betting markets in the world, where along with the i-gaming market, is estimated to reach $7 billion by 2025 and $30 billion to $35 billion at total maturity. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to boost its client base and revenue when the USB acquisition is fully integrated, the Company’s ability to leverage the combination of USB’s highly experienced bookmaking team and its software platform in the sports wagering market, the Company’s ability to accelerate its growth and product innovation while solidifying its industry position in servicing large and small casino operators, as well as neighborhood establishments, the Company’s ability to leverage the synergies of the Group and expected future business partnerships to drive long-term growth and shareholder value, the estimate that by 2025, 50% of the U.S. will have access to legal sports betting, the U.S. becoming one of the largest regulated sports betting markets in the world, and along with i-gaming reaching $7 billion by 2025 and $30 billion to $35 billion at total maturity, the duration and scope of the COVID-19 outbreak worldwide, including the impact to state and local economies, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K.