Elys Game Technology and Lottomatica on Thursday unveiled the signing of a binding term sheet that the companies said outlines the entry into a definitive agreement and ancillary agreements to design, develop and service a customized sportsbook technology platform focused on Lottomatica’s North American growth initiatives.
Elys is an interactive gaming and sports betting technology company. Lottomatica is a global brand with a strong presence in the Italian gaming market.
Under the terms of the agreements, financial terms of which were not disclosed, Elys will contribute a commercial partition of its betting technology to integrate within the Lottomatica environment.
Elys said it will assure the functional operation of the platform – which the two companies are referring to as “the Product” – through dedicated engineering and technical service teams. Elys added it will earn tiered license fees from operation of the Product.
In addition, the parties said they may collaborate on additional growth initiatives, subject to regulatory approvals where applicable.
“We are very pleased to collaborate with industry leader Lottomatica and their proven leadership on global sports betting opportunities as we continue to expand our operational footprint,” Michele Ciavarella, Executive Chairman of Elys Game Technology, said in a statement. “This partnership adds a new evolution for Elys’ sportsbook technology and is yet another example of our modular architecture’s ability to seamlessly integrate. We look forward to working closely with Lottomatica and their commercial partners to provide a competitive, flexible, and effective technology solution throughout this long-term relationship. We believe that this partnership could also foster significant synergies in the online gaming industry, both domestically and internationally, and is positioned to drive long-term shareholder value for both companies.”
Giuseppe Portoricco, Lottomatica Senior Vice President for North America, added: “This agreement will allow Lottomatica to accelerate its plans for North America by leveraging on Elys’ deep knowhow and strong technology in this segment. We are excited to collaborate with Elys on these developments.”
Elys Game Technology is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. Elys offers its clients a suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slots in Italy, and has operations in five states in the US market. The company provides wagering solutions, services online operators, casinos, retail betting establishments and franchise distribution networks.
Lottomatica is the first group to be authorized by the Customs and Monopoly Agency in the Italian gaming market and one of the major players in Europe. It is active in three product areas: sports betting, online games, amusement and entertainment machines. Lottomatica has more than 16,000 total employees, including direct employees and employees of the specialized franchising network. The company had approximately €1.6 billion of revenue and €22 billion of wagers managed in 2019 on an aggregated basis. It has approximately 800,000 online customers, a franchising network of approximately 3,000 points of sales offering sports betting, 1,400 gaming halls, 13,600 tobacconists/bars and a proprietary network of approximately 120 gaming venues in Italy.
