Elys Game Technology says revenue grew 26% in Q4
Sports betting technology company expanding in the US in 2021.
Elys Game Technology, Corp. on Thursday released preliminary, unaudited results for the fourth quarter of 2020.
The company said its net gaming revenue increased by 26% to approximately $13.1m for Q4 2020, compared to $10.4m for the same period one year earlier.
The company reported its web-based gross gaming revenue was up sharply last quarter – by approximately 69% from Q4 2019.
Matteo Monteverdi, CEO of Elys, said the company has completed the product regulatory requirements to commence B2B operations in the United States.
“We continue to generate very strong year-over-year revenue growth in our foundational operations despite the impact of COVID-19,” Monteverdi said in a statement.
“Our online gaming performance in Italy increased by 65% in 2020, and we believe we have been able to navigate the current market far better than many of our peers.
“We credit this growth to our omni-channel distribution approach, which combines the best of both online and land-based retail betting. We believe this multi-faceted approach allows us to remain nimble as an organization and quickly adapt to evolving market conditions such as the current pandemic.”
Monteverdi added Elys is“extremely well positioned” heading into 2021, as the company commences its US expansion strategy.
“In this regard, we anticipate a number of very meaningful near-term milestones and look forward to providing updates on our roll-out as developments unfold,” he added.
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