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Elys Game Technology Q3 report shows 19% B2C turnover increase

Elys Game Technology has reported a 19% increase in B2C turnover and a 33% increase in NGR margin for Q3 2022. 

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The group’s European operations achieved a net profitable position of $0.3m for the nine months ended 30 September 2022.

The report also highlighted an increase in disaggregated sportsbook performance of 19% compared to Q3 2021.

In terms of future plans, the report predicts a strong start to 2023 with more than 100 signed host locations in Ohio.

The company also plans to commence operations in a second DC location, and two signed locations in Maryland. Elys Game Technology’s US mobile partnership with Lottomatica is also set to launch in 2023.

Michele Ciavarella, Executive Chairman of Elys Game Technology commented: “The road map we set out in 2016 has come full circle with European operations streamlined and returned to profitability through Q3 2022.

“Our US strategy has also proven to be a tremendous success with the real-money deployment of both our small and large retail platform architectures at Grand Central Restaurant Bar and Sportsbook and Ocean Casino Resort, respectively.

"These two extremes of the retail distribution channel put Elys in a league of its own as a key B2B provider for land-based business ventures and casinos throughout the growing and developing regulated US sports betting market.”

Interim CFO of Elys, Carlo Reali added: “Both our online and retail channels continued to grow under our streamlined Multigioco operations. During the quarter ended September 30, 2022, Multigioco has currently deployed approximately 44 of the 100 operating rights obtained in January 2022 and we are on pace to open the remaining 56 before the end of Q1 2023.”

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