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Benzinga
Benzinga
Business
Shivani Kumaresan

Italy's Lottomatica Partners With Elys To Accelerate Plans For North America

Italy North America
  • Elys Game Technology Corp (NASDAQ:ELYS) has entered into a binding term sheet with Lottomatica S.p.A. to develop a customized sportsbook technology platform focused on North America.
  • Lottomatica has a franchising network of 3,000 points of sales offering sports betting, 1,400 gaming halls, and a proprietary network of approximately 120 gaming venues in Italy.
  • Elys will contribute a commercial partition of its betting technology to integrate within the Lottomatica environment.
  • Elys will also assure the functional operation of the product through engineering and technical service teams and will earn tiered license fees.
  • In addition, the parties may also collaborate on additional growth initiatives.
  • Price Action: ELYS shares traded higher by 4.82% at $2.61 on the last check Tuesday.
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