This week Elys closed the transaction to acquire 100% of USB interests, making it a solely owned subsidiary of Elys. The purchase price for the equity of USB stood at $12m and was paid between a 50% cash split, with the latter half in 1,265,823 million shares on the company’s common stock.
The amount for potential earnouts equates to $41.8m through 31 December 2025.
The merger between the two companies aids in USB becoming a central part of Elys’ US-facing brand. This also provided Elys with operations in New Mexico, Michigan and North Dakota. Two additional regions, Washington D.C, and Iowa, are also in progress.
These states ensure a large increase in client base alongside a growth in revenue when the transaction fully integrates. With Elys’ mission to build in the US and Canadian sports betting markets, this acquisition will help further its reach.
Vic Salerno, President of USBookmaking, said: “USB realised that to increase our client base we needed a sportsbook platform that was built for the United States market. We spent the last three years vetting virtually every sports betting technology in existence and determined that the Elys platform was superior to all the other platforms.
"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.”
