Elys Game Technology Comments on Canadian Legislation to Legalize Single-Event Sports Wagering in Canada
November 30 2020 - 8:00AM
Business Wire
Elys Game Technology, Corp. (“Elys” or the “Company”)
(Nasdaq:ELYS), an interactive gaming and sports betting
technology company, today commented on proposed Canadian Federal
Government legislation to legalize single-event sports wagering in
Canada (Bill C-13 "An Act to amend the Criminal Code (single event
sport betting)."
The proposed changes would give provinces and territories the
ability to offer single-event sport betting products and the
discretion to manage single-event sport betting in their respective
jurisdictions. In provinces and territories that choose to offer
single-event sport betting, Canadians would have an opportunity to
engage in this activity in a regulated environment, either online
or in physical facilities.
“We commend Canada’s Minister of Justice and Attorney General
for introducing this important legislation in support of
single-event sports betting,” stated Michele (Mike) Ciavarella,
Chairman and CEO of Elys Game Technology, Corp. “We believe there
is strong bi-partisan support for this bill and, if passed, would
have a very positive impact for both Elys, given our strong
leadership in the space, as well as the overall industry, which has
been negatively impacted by the COVID-19 pandemic. We estimate that
approximately CDN$80 Billion is wagered on sports each year in
Canada. With our established relationship foothold in Canada,
sportsbook experience and cutting-edge Elys betting technology, we
believe there is a tremendous opportunity to expand our business
across the provinces.”
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a B2B global gaming technology
company operating in multiple countries worldwide, with B2C online
and land-based gaming operations in Italy. In Italy, Elys offers
its clients a full suite of leisure gaming products and services,
such as sports betting, e-sports, virtual sports, online casino,
poker, bingo, interactive games and slots.
The Company’s innovative wagering solution services online
operators, casinos, retail betting establishments and franchise
distribution networks. The Company has completed the product
regulatory requirements to commence B2B operations in the United
States. Additional information is available on our corporate
website at www.elysgame.com.
Investors may also find us on Twitter @ELYS_gaming.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by the use of the words “could,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,”
“predict,” “potential,” “project” and similar expressions that are
intended to identify forward-looking statements and include
statements regarding strong bi-partisan support for the proposed
Canadian Federal Government legislation to legalize single-event
sports wagering in Canada, the positive impact for both Elys, as
well as the overall industry, if the bill is passed, approximately
CDN$80 Billion being wagered on sports each year in Canada and the
opportunity to expand the Company’s business across the provinces.
These forward-looking statements are based on management’s
expectations and assumptions as of the date of this press release
and are subject to a number of risks and uncertainties, many of
which are difficult to predict that could cause actual results to
differ materially from current expectations and assumptions from
those set forth or implied by any forward-looking statements.
Important factors that could cause actual results to differ
materially from current expectations include, among others, the
Company’s ability to offer single-event sport betting products and
the discretion to manage single-event sport betting to Canadians as
contemplated by the legislation, having strong bi-partisan support
to pass the legislation, the legislation, if passed, having the
positive impact for Elys as expected; the wagering of CDN$80
Billion sports each year in Canada as expected; the Company’s
ability to expand its business across the provinces as planned, the
duration and scope of the COVID-19 outbreak worldwide, including
the impact to the state and local economies, and the risk factors
described in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2019 and its subsequent filings with the U.S.
Securities and Exchange Commission, including subsequent periodic
reports on Form 10-Q and current reports on Form 8-K. The
information in this release is provided only as of the date of this
release, and the Company undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise, after the date on
which the statements are made or to reflect the occurrence of
unanticipated events, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20201130005521/en/
Crescendo Communications, LLC David Waldman Tel: (212) 671-1020
Email: elys@crescendo-ir.com
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