iGaming InterviewsShow More
Elys Game Technology experiences lower financial results
Elys Game Technology announces the results of their profit for Q1, seeing 12.2 million dollars which is 14% lower from last year’s.
The 1st quarter of this year was complicated for Elys, and regardless of the modest steps compared to the fourth quarter, stayed below the 1st quarter of 2021 in many fields.
The turnover surpassed 217 million dollars, which is more from last year’s 215 million dollars. Yet divided sportsbooks keep on reaching double-digit levels (18.3%).
Elys’ financial performance shows different results. Although the income from the quarters grew, it is still 2 million euros lower from last year’s 1st quarter.
It all had a domino effect on the brand, which grew from 600 thousand dollars to 2.1 million dollars.
Elys reported that the decrease is the result of the coronavirus pandemic in land-based locations of Italy, and they cannot wait to restore their market shares and improve their financial performance across new regions in Italy in the near future. This may be based on Elys’ recent decision to place VG products in almost five thousand places throughout Italy.
Elys’ executive chairperson M. Ciavarella commented:
“Our tactical actions in the Italian market have led to onward profits, as the management of our division at Multigioco benefited from the quarantine to move closed ground operations and expand our online channel. We hope that the latest purchase of ADM will help Multigioco B2C land-based operations to return to its pre-Covid position.”