Elys Inks Deals To Place Virtual Sports Products In ~5,000 Retail Locations In Italy

  • Elys Game Technology Corp ELYS has entered into retail distribution agreements to deploy its Virtual Generation Limited (VG) virtual sports wagering and amusement products throughout Italy.
  • The agreement is expected to place VG products in approximately 5,000 retail locations operated by both the company's Multigioco subsidiary and other licensed operators.
  • The move would allow patrons to wager on a variety of high-definition virtual sports events such as pre-recorded greyhound and horse racing, virtual horse racing, and Italian league play virtual soccer.
  • Elys targets to generate accretive organic incremental revenue of about $5 million - $7 million from its suite of virtual products annually.
  • "The growth of our virtual product offering is expected to complement our Elys sportsbook expansion in the U.S. and Canadian betting markets and rapidly contribute to our profitability roadmap and schedule," stated Michele Ciavarella, Executive Chairman of Elys.
  • Price Action: ELYS shares are trading lower by 9.22% at $1.28 on the last check Monday.
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