{"id":267,"date":"2024-06-27T23:55:50","date_gmt":"2024-06-27T20:55:50","guid":{"rendered":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/"},"modified":"2024-06-27T23:55:50","modified_gmt":"2024-06-27T20:55:50","slug":"elys-game-technology-anticipates-22-revenue-surge-in-2022","status":"publish","type":"post","link":"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/","title":{"rendered":"Elys Game Technology Anticipates 22% Revenue Surge in 2022"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/eQrHkDV7qUE\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Elys Game Technology, a developer of gaming and sports wagering experiences, anticipates a 22% surge in revenue this year compared to the previous year. They project a $45.5 million income for the current year, a significant increase from the $37.3 million earned in the previous year. The company also expects a substantial rise in earnings from its online gaming offerings, with a projected 74% increase compared to the prior year. Their performance in the United States is also noteworthy, with a substantial expansion in their service operations. To facilitate their growth in the US market, they acquired Bookmakers Company. Additionally, they submitted their new sports betting platform to the New Jersey government for authorization. <\/p>\n<p>Furthermore, in the first month of this year, Elys restructured its leadership group, with Chief Financial Officer Mark Cobb being shifted to a new corporate affairs position. Carlo Reali, who has served as the Group Financial Controller of Elys since the tenth month of 2020, assumed Cobb&#8217;s role on a temporary basis, while Tori Kay was appointed as the Head of Business Development for the American operations.<\/p>\n<p>Elys indicated that full-year sales and marketing costs, which primarily comprise commissions paid to external agents for its European business-to-consumer operations and are calculated as a percentage of income, are projected to rise by 39% to $36.3 million, driven by an anticipated 47% increase in revenue.<\/p>\n<p>General and administrative expenses are also projected to rise by 39% to $5.3 million, due to the direct entry into the American market, including increased spending associated with the acquisition and operation of US betting companies, as well as personnel costs and professional fees related to establishing a presence in the US.<\/p>\n<p>Elys also noted that it anticipates incurring $16 million in non-cash impairment charges, of which $4.8 million will be attributed to the impairment of European licenses, and an estimated $11.2 million impairment of goodwill related to the acquisition of US betting companies. Elys stated that this will be offset by an anticipated $12.3 million reduction in future revenue payments. <\/p>\n<p>In early 2021, we commenced realizing our initial investment in American sports betting technology. By October 2021, we had launched our first American operation at the Central Station eatery and sports wagering hub in Washington, D.C.<\/p>\n<p>Our objective is not only to become a global leader in end-to-end sports betting, but more crucially, to harmonize our offerings with the requirements of our business-to-business clients and business-to-consumer customers to construct a well-managed, highly lucrative, and enduring enterprise.<\/p>\n<p>In this context, we believe we are strategically positioned to convert our technological investment into revenue-generating customer connections in the United States and Canada in 2022. This includes our recent collaboration, which merges our leading American-engineered sports betting technology with industry titan Lottomatica and its seasoned and skilled management team, to vie for the top position in North America.<\/p>\n<p>Ciavarella also observed that the European market is expanding, driven by the development of the Newgioco brand in Italy and the streamlining of operations by the Multigioco subsidiary, eliminating redundant license administration.<\/p>\n<p>Ciavarella stated, &#8220;Multigioco benefits from the completion of our Ulisse operation within the European Union, while also conducting business in Italy.&#8221; <\/p>\n<p>The firm ceased its Ulisse venture in the middle of 2021, leading to a $4.8 million non-cash write-down. This was attributed to the effects of COVID-19 limitations on land-based distribution. <\/p>\n<p>&#8220;We intend to enhance the profitability of our B2C business by streamlining Multigioco operations. We are crafting an omnichannel distribution strategy and formulating a land-based channel plan for a robust B2B introduction of Elys gaming board technology in Europe.&#8221;<\/p>\n<p>Subscribe to the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elys Game Technology, a developer of gaming and sports wagering experiences, anticipates a 22% surge in revenue this year compared to the previous year. They project a $45.5 million income for the current year, a significant increase from the $37.3 million earned in the previous year. The company also expects a substantial rise in earnings [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Elys Game Tech: Revenue Soaring 22% This Year<\/title>\n<meta name=\"description\" content=\"Elys Game Technology anticipates a significant revenue surge in 2023, driven by strong growth in online gaming and sports wagering.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Elys Game Technology Anticipates 22% Revenue Surge in 2022\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Elys Game Technology anticipates a significant revenue surge in 2023, driven by strong growth in online gaming and sports wagering.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Explore the Future of Casino Entertainment | News &amp; Licensed Games\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T20:55:50+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/\",\"url\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/\",\"name\":\"Elys Game Tech: Revenue Soaring 22% This Year\",\"isPartOf\":{\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-27T20:55:50+00:00\",\"dateModified\":\"2024-06-27T20:55:50+00:00\",\"author\":{\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Elys Game Technology anticipates a significant revenue surge in 2023, driven by strong growth in online gaming and sports wagering.\",\"breadcrumb\":{\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/2024\/06\/27\/elys-game-technology-anticipates-22-revenue-surge-in-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/slotsgarden100nodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Elys Game Technology Anticipates 22% Revenue Surge in 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/slotsgarden100nodepositbonus.icu\/#website\",\"url\":\"https:\/\/slotsgarden100nodepositbonus.icu\/\",\"name\":\"Explore the Future of Casino Entertainment | News &amp; Licensed Games\",\"description\":\"Stay on top of the online gambling world with our fresh casino news, in-depth reviews, and expert articles. 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