Elys Game Technology

History & Corporate Structure

Elys Game Technology traces its origins to the Italian gaming market, originally incorporated as Newgioco Group. The entity has been active since at least the mid-2010s, though the exact founding year is not publicly confirmed. In 2020, the company rebranded to Elys Game Technology to align with its flagship technology platform. It is publicly traded on the OTC Markets (ticker: ELYS) and has a secondary listing on the Berlin Stock Exchange (ticker: 3UW). In July 2021, Elys acquired USBookmaking, a Nevada-based sports book operator founded in 2016 by veteran Victor Salerno, gaining a strategic foothold in the U.S. market.

Business Model & Products

Elys operates as a true vertically integrated gaming supplier, managing every phase of online gaming and sports betting in-house. The product portfolio includes: Elys Gameboard, a proprietary sports betting platform for online and retail wagering; Virtual Sports, offering simulated events available 24/7; Online Casino with slots, table games, and live dealer; Poker and Bingo for multi-player gaming; E-Sports Betting on competitive video gaming; and Retail Solutions including point-of-sale and self-service betting terminals. Subsidiary USBookmaking provides trading and risk management services, offering bookmaking expertise to casino partners. The company’s technology is certified for multiple regulated jurisdictions, with licenses in Italy and across several U.S. states.

Market Presence & Recent Developments

Elys maintains a substantial retail presence in Italy via a network of approximately 1,200 web-shops. In North America, it has partnered with tribal casinos and, in November 2021, announced a landmark partnership with Ocean Casino Resort in Atlantic City through USBookmaking. In 2023, the company entered a binding term sheet with Lottomatica S.p.A. to develop a customized sportsbook platform for the North American market. Elys continues to expand its product offerings and regulatory footprint, focusing on both the newly regulated U.S. sports betting market and its established European base.

Financial & Operational Highlights

The company has raised $3 million in funding (according to Tracxn) and completed a merger/acquisition with Engage IT Services in January 2023. Its headcount is not publicly disclosed. Elys remains a relatively small but nimble player in the gaming technology space, competing with larger providers by offering tailored, end-to-end solutions.