Elys Game Technology
Elys Game Technology, since January 2024 named Elys BMG Group, Inc., is a US-registered holding company that combines a B2C Italian betting business with a B2B sportsbook platform. Its Austrian subsidiary Odissea owns the 'Elys Game Board' betting platform licensed to third parties, Multigioco holds the Italian ADM licences and runs online and land-based betting shops, Virtual Generation supplies virtual sports, and the Nevada subsidiary US Bookmaking provided bookmaking services to US casinos. The shares were delisted from Nasdaq in October 2023 and now trade over the counter under the ticker ELYS.
- Founded
- 1998
- Headquarters
- Toronto, Ontario, Canada
- Ownership
- Publicly traded holding company incorporated in Delaware in 1998. Listed on the Nasdaq Capital Market under ELYS until delisting on 17 October 2023, after which the stock moved to OTC Markets under the same ticker. Renamed Elys BMG Group, Inc. on 4 January 2024. No controlling parent is disclosed.
- Licences
- Italy (ADM), Washington, D.C., New Jersey
- Products
- sportsbook platform, retail sports betting kiosks, betting shop operations, bookmaking services, virtual sports, online casino, lottery betting, horse racing betting
- Brands
- 2
History
The registrant is a Delaware corporation formed in 1998. SEC records show the name chain Pender International Inc (to 2005), Vianet Technology Group Ltd and Tradestream Global Corp (both briefly in 2005), Empire Global Corp (2005 to July 2016), Newgioco Group, Inc. (August 2016 to November 2020), Elys Game Technology, Corp. (October 2020 to December 2023) and Elys BMG Group, Inc. from 4 January 2024. Gaming operations began in 2014 with the acquisition of Multigioco in Italy; the Odissea platform business and the Austrian bookmaker Ulisse were acquired in June 2016, Malta-based Virtual Generation in January 2019, US Bookmaking in July 2021 and Italian software house Engage IT Srl in January 2023. The Austrian licence was allowed to lapse, producing a $4.83m impairment charge.
The US expansion did not hold. US Bookmaking was bought on 15 July 2021 for $12m (half cash, half shares) plus earnouts of up to $41.8m; the earnout was written off after the business underperformed and the parties fell out, the sellers sued in 2022 and Elys counter-sued in the District Court of Clark County, Nevada in November 2022. FY2022 produced a net loss of $18.3m after a $20.6m intangible impairment, and the auditors flagged substantial doubt about the company's ability to continue as a going concern. Nasdaq's Hearings Panel delisted the stock effective 17 October 2023 and it moved to OTC Markets. On 30 April 2024 the company agreed to sell its Italian B2C subsidiary Multigioco, subject to ADM and AGCM approval. No FY2023 annual report was ever filed and the last SEC filing is dated 17 July 2024.
Notable
- SEC name chain confirmed on EDGAR: Empire Global Corp (to July 2016), Newgioco Group, Inc. (2016-2020), Elys Game Technology, Corp. (2020-2023), Elys BMG Group, Inc. (from 4 January 2024).
- Acquired US Bookmaking (Bookmakers Company US LLC, Nevada) on 15 July 2021 for $12m plus earnouts of up to $41.8m; the earnout was written off and the company sued the sellers in Clark County, Nevada in November 2022.
- FY2022 net loss of $18.3m after a $20.6m intangible impairment, with a going-concern qualification from the auditors; Nasdaq delisted the shares effective 17 October 2023.
- Signed a ten-year Master Technology Development and License Agreement with Lottomatica (now G.B.O. S.p.A.) in Q2 2022 for a dedicated sports betting platform for the US and Canadian markets, and agreed on 30 April 2024 to sell its Italian B2C subsidiary Multigioco.
Used by
- Lottomatica — lottomatica.it
- Ocean Casino Resort (temporary, Atlantic City)
How well established
The technical fingerprint is inferred rather than directly documented. Everything material here is taken from SEC filings and is solid through mid-2024, but the company stopped reporting after 17 July 2024, so its current status, whether the Multigioco sale closed and whether it still trades are all unverified. No website is recorded because elysgame.com no longer serves content, and EDGAR now lists a Las Vegas business address while the last filings state Toronto.
