Announcement • May 08
An undisclosed buyer agreed to acquire Multigioco Srl from Elys BMG Group, Inc. (OTCPK:ELYS). An undisclosed buyer agreed to acquire Multigioco Srl from Elys BMG Group, Inc. (OTCPK:ELYS) on April 30, 2024. The agreement shall be effective upon the certification by a Notary in Italy and is subject to regulatory approvals from the Agenzia delle Dogane e dei Monopoli (“ADM”) and the Italian antitrust competition agency Autorità Garante della Concorrenza e del Mercato (“AGCM”), as well as the fulfillment of certain other conditions precedent set forth in the agreement. Announcement • Apr 03
Elys BMG Group, Inc. announced delayed annual 10-K filing On 04/02/2024, Elys BMG Group, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Nov 17
Elys Game Technology, Corp. announced delayed 10-Q filing On 11/15/2023, Elys Game Technology, Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Oct 28
Elys Game Technology, Corp., Annual General Meeting, Nov 09, 2023 Elys Game Technology, Corp., Annual General Meeting, Nov 09, 2023, at 10:00 US Eastern Standard Time. Location: the Company headquarters situated at the offices of Beard Winter LLP, Suite 701, 130 Adelaide St. W Toronto Ontario Canada Agenda: To elect the five nominees for director named herein to our Board of Directors (the “Board” or “Board of Directors”) to hold office until our next annual meeting of stockholders and until their successors are duly elected and qualified; to ratify the appointment of BDO AG as our independent registered public accounting firm for our fiscal year ending on December 31, 2023; to approve an amendment to our 2018 Equity Incentive Plan to increase the number of shares of common stock that we will have authority to grant under the plan by an additional 12,000,000 shares of common stock; and to consider other matters. Announcement • Oct 19
Elys Game Technology, Corp.(OTCPK:ELYS) dropped from S&P TMI Index Elys Game Technology, Corp.(OTCPK:ELYS) dropped from S&P TMI Index Major Estimate Revision • Aug 22
Consensus EPS estimates fall by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -US$0.27 to -US$0.325 per share. Revenue forecast unchanged at US$47.9m. Hospitality industry in the US expected to see average net income growth of 19% next year. Consensus price target of US$2.00 unchanged from last update. Share price fell 13% to US$0.42 over the past week. Reported Earnings • Aug 15
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: US$0.10 loss per share (improved from US$0.16 loss in 2Q 2022). Revenue: US$11.3m (up 9.6% from 2Q 2022). Net loss: US$3.55m (loss narrowed 7.0% from 2Q 2022). Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Price Target Changed • Aug 15
Price target decreased by 43% to US$2.00 Down from US$3.50, the current price target is an average from 2 analysts. New target price is 299% above last closing price of US$0.50. Stock is down 38% over the past year. The company is forecast to post a net loss per share of US$0.27 next year compared to a net loss per share of US$0.70 last year. Announcement • Aug 01
Elys Game Technology Receives Non-Compliance Notice From Nasdaq As previously reported, Elys Game Technology, Corp. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on July 25, 2022, stating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Rule”) because the Company’s common stock failed to maintain a minimum closing bid price of $1.00 for 30 consecutive trading days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was afforded an initial period of 180 calendar days, or until January 23, 2023, to regain compliance with the Minimum Bid Price Rule. On January 17, 2023, the Company delivered to Listing Qualifications Department of Nasdaq a confidential plan to cure the deficiency within the second compliance period. On January 24, 2023, the Listing Qualifications Department of Nasdaq sent the Company a second notice, indicating that the Company was eligible for an additional 180 period, or until July 24, 2023, in which to regain compliance. The Company was unable to regain compliance with Minimum Bid Price Rule prior to the expiration of the second 180 calendar day period. On July 25, 2023, the Company received written notice (the “Notice”) from Nasdaq stating that the Company has not complied with the Minimum Bid Price Rule. The Notice indicated that the Company’s common stock would be suspended from trading on Nasdaq unless the Company requests a hearing before a hearings panel by August 1, 2023. The Company intends to timely request a hearing, which will stay any trading suspension of the Company’s common stock until completion of the Nasdaq hearing process and expiration of any additional extension period granted by the panel following the hearing. The Company expects the hearing to be held within 45 days of the Company’s request for the hearing, pursuant to the Nasdaq Listing Rules. At or prior to the hearing, the Company intends to present its plans to Nasdaq to regain compliance with the Minimum Bid Price Rule and request an extension of time to allow the Company’s Board of Directors and management to effect a reverse stock split. In anticipation of the appeal, the Company intends filing a preliminary proxy statement with the U.S. Securities and Exchange Commission relating to a proposal to approve an amendment to the Company’s Second Amended and Restated Certificate of Incorporation to, at the discretion of the Company’s Board of Directors, effect a reverse stock split with respect to the issued and outstanding common stock at a ratio of 1-for-2 to 1-for-1000, with the ratio to be determined at the discretion of the Board of Directors and included in a public announcement (the “Reverse Split”). There continues to be no immediate effect on the listing of the Company’s common stock, which continues to trade on The Nasdaq Capital Market under the symbol “ELYS.” The Company is working diligently to satisfy, and intends to regain compliance with, the Minimum Bid Price Rule. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Rule prior to the hearing date or at all or that Nasdaq will grant the Company an extension of time to achieve compliance with the Minimum Bid Price Rule. The Company intends to continue to monitor its closing bid price for its common stock and will continue considering all available options to comply with the Minimum Bid Price Rule as may be necessary. Announcement • May 16
Elys Game Technology, Corp. announced delayed 10-Q filing On 05/15/2023, Elys Game Technology, Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Apr 18
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: US$0.69 loss per share (further deteriorated from US$0.67 loss in FY 2021). Revenue: US$42.7m (down 6.3% from FY 2021). Net loss: US$18.3m (loss widened 21% from FY 2021). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 46%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 49% per year, which means it is performing significantly worse than earnings. Announcement • Feb 08
Elys Game Technology, Corp. Obtains GLI-33 and GLI-20 Platform Certification for Operational Deployment in Ohio Elys Game Technology, Corp. has received Gaming Labs International (GLI) certification to the GLI 20 v.2.0: Standards for Kiosks and GLI-33 v1.1: Event Wagering Systems standards for the self-service betting terminal (“SSBT” or “kiosk”) operation of its Elys sports betting platform in accordance with the testing, inspection and compliance standards of the Ohio Casino Control Commission (“OCCC”). SSBT’s are key to the retail or land-based sports betting market, which is a focal point of Elys’ initial U.S. implementation strategy. The retail sports betting market, outside of brick-and-mortar casino operations, is a largely under-served market which complements existing revenue sources for post-pandemic challenged businesses such as neighborhood restaurants and bars, which can offer socially interactive gaming opportunities to their patrons through licensed hosts in the state of Ohio, and where permitted in future, potentially a wide array of other hospitality establishments throughout the U.S. Announcement • Feb 04
Elys Game Technology, Corp. (NasdaqCM:ELYS) acquired 100% stake in Engage It Services Srl for €1.08 million. Elys Game Technology, Corp. (NasdaqCM:ELYS) agreed to acquire 100% stake in Engage It Services Srl for €1.08 million on January 29, 2023. Pursuant to the Agreement, Elys will issue approximately 3,018,462 shares of common stock (“Shares”), valued at €1.08 million, which purchase price may be increased or decreased dependent upon the net financial position of Engage as determined by due diligence, on or prior to June 30, 2023. Subject to the repurchase option set forth in the Agreement, the Sellers will be restricted from disposing of the Shares for 36 months and the Company may repurchase the Shares issued for €1.08 million in cash up to June 30, 2023. The current Engage and Elys leadership and management team will remain in their current roles and their interest are aligned with that of our shareholders due to the equity nature of this transaction. Engage employs 30 experts.
Elys Game Technology, Corp. (NasdaqCM:ELYS) completed the acquisition of 100% stake in Engage It Services Srl on February 2, 2023. Announcement • Jan 26
Elys Game Technology Receives Written Notification from Nasdaq As previously reported, on July 25, 2022, Elys Game Technology Corp. received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC notifying the Company that for the preceding 30 consecutive business days (June 9, 2022 through July 22, 2022), the Company's common stock did not maintain a minimum closing bid price of $1.00 (Minimum Bid Price Requirement") per share as required by Nasdaq Listing Rule 5550(a)(2). The Company was provided 180 calendar days, or until January 23, 2023, to regain compliance. The Company did not regain compliance with the Minimum Bid Price Requirement by January 23, 2023; however, on January 24, 2023, the Company received written notification from Nasdaq granting the Company's request for a 180-day extension to regain compliance with Nasdaq Listing Rule 5550(a)(2). Compliance may be achieved automatically and without further action if the closing bid price of the Company's common stock is at or above $1.00 for a minimum of ten consecutive business days at any time prior to July 24, 2023, Nasdaq will notify the Company that it has regained compliance with the Minimum Bid Price Requirement and the matter will be closed. If the Company does not regain compliance with the Minimum Bid Price Requirement by July 24, 2023, Nasdaq will provide written notification to the Company that its common stock will be delisted. At that time, the Company may appeal the relevant delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the hearings panel, that such appeal would be successful. The Company intends to actively monitor the bid price of its common stock and will consider available options to regain compliance with the Nasdaq listing requirements, including such actions as effecting a reverse stock split to maintain its Nasdaq listing. Nasdaq's extension otice has no immediate effect on the listing or trading of the Company's common stock, which will continue to trade on the Nasdaq Capital Market under the symbol ELYS". Major Estimate Revision • Nov 21
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$49.2m to US$44.0m. Forecast losses increased from -US$0.30 to -US$0.39 per share. Hospitality industry in the US expected to see average net income growth of 11% next year. Consensus price target of US$2.00 unchanged from last update. Share price fell 18% to US$0.23 over the past week. Reported Earnings • Nov 17
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.14 loss per share. Revenue: US$9.59m (up 19% from 3Q 2021). Net loss: US$3.82m (loss widened 8.8% from 3Q 2021). Revenue missed analyst estimates by 19%. Earnings per share (EPS) also missed analyst estimates by 87%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Hospitality industry in the US. Breakeven Date Change • Nov 16
No longer forecast to breakeven The 2 analysts covering Elys Game Technology no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$179.5k in 2023. New consensus forecast suggests the company will make a loss of US$914.7k in 2023. Recent Insider Transactions • Sep 09
Executive Chairman recently bought US$59k worth of stock On the 6th of September, Michele Ciavarella bought around 103k shares on-market at roughly US$0.58 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Michele has been a buyer over the last 12 months, purchasing a net total of US$872k worth in shares. Breakeven Date Change • Aug 23
Forecast to breakeven in 2023 The 2 analysts covering Elys Game Technology expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 67% to 2022. The company is expected to make a profit of US$179.5k in 2023. Average annual earnings growth of 125% is required to achieve expected profit on schedule. Reported Earnings • Aug 16
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: US$0.16 loss per share (down from US$0.13 loss in 2Q 2021). Revenue: US$10.3m (down 12% from 2Q 2021). Net loss: US$3.82m (loss widened 38% from 2Q 2021). Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 60%. Over the next year, revenue is forecast to grow 47%, compared to a 58% growth forecast for the Hospitality industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Board Change • Jul 31
High number of new directors Independent Director Vic Salerno was the last director to join the board, commencing their role in 2021. Board Change • Jul 01
High number of new directors Independent Director Vic Salerno was the last director to join the board, commencing their role in 2021. Recent Insider Transactions • Dec 15
Executive Chairman recently bought US$79k worth of stock On the 13th of December, Michele Ciavarella bought around 24k shares on-market at roughly US$3.28 per share. In the last 3 months, they made an even bigger purchase worth US$201k. Michele has been a buyer over the last 12 months, purchasing a net total of US$881k worth in shares. Recent Insider Transactions • Nov 27
Executive Chairman recently bought US$103k worth of stock On the 26th of November, Michele Ciavarella bought around 30k shares on-market at roughly US$3.40 per share. This was the largest purchase by an insider in the last 3 months. Michele has been a buyer over the last 12 months, purchasing a net total of US$966k worth in shares. Breakeven Date Change • Nov 26
Forecast to breakeven in 2023 The 4 analysts covering Elys Game Technology expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 44% per year to 2022. The company is expected to make a profit of US$8.10m in 2023. Average annual earnings growth of 97% is required to achieve expected profit on schedule. Reported Earnings • Nov 17
Third quarter 2021 earnings released: US$0.15 loss per share (vs US$0.084 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$8.03m (down 17% from 3Q 2020). Net loss: US$3.52m (loss widened 190% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Board Change • Nov 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Paul Sallwasser is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Executive Departure • Oct 12
VP of Technology & CTO Luca Pasquini has left the company On the 4th of October, Luca Pasquini's tenure as VP of Technology & CTO ended after 5.2 years in the role. As of June 2021, Luca still personally held 853.00k shares (US$3.5m worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.29 years. Board Change • Oct 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Paul Sallwasser is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Oct 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Paul Sallwasser is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.13 loss per share (vs US$0.20 loss in 2Q 2020) The company reported a solid second quarter result with improved revenues and control over costs, although losses increased. Second quarter 2021 results: Revenue: US$11.7m (up 143% from 2Q 2020). Net loss: US$2.77m (loss widened 9.7% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Breakeven Date Change • Aug 02
Forecast breakeven pushed back to 2023 The 4 analysts covering Elys Game Technology previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 84% per year to 2022. The company is expected to make a profit of US$5.60m in 2023. Average annual earnings growth of 68% is required to achieve expected profit on schedule. Major Estimate Revision • Jul 30
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 expected loss increased from -US$0.11 to -US$0.30 per share. Revenue forecast of US$50.0m unchanged since last update. Hospitality industry in the US expected to see average net income growth of 91% next year. Consensus price target of US$8.17 unchanged from last update. Share price rose 11% to US$4.48 over the past week. Executive Departure • Jul 13
Independent Director Philippe Blanc has left the company On the 1st of July, Philippe Blanc's tenure as Independent Director ended after less than a year in the role. We don't have any record of a personal shareholding under Philippe's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 4.08 years. Price Target Changed • Jul 02
Price target increased to US$7.56 Up from US$5.89, the current price target is an average from 3 analysts. New target price is 85% above last closing price of US$4.09. Stock is up 47% over the past year. Major Estimate Revision • Mar 03
Analysts increase EPS estimates to -US$0.28 The 2020 consensus revenue estimate increased from US$34.9m to US$37.2m. Analysts raised their EPS forecasts from -US$0.34 to -US$0.28 in 2020. The Hospitality industry in the US is expected to see an average net income growth of 91% next year. The consensus price target increased from US$5.89 to US$8.39. Share price is up 13% to US$6.80 over the past week. Is New 90 Day High Low • Feb 18
New 90-day high: US$7.21 The company is up 426% from its price of US$1.37 on 19 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 15% over the same period. Price Target Changed • Feb 17
Price target lowered to US$5.89 Down from US$9.50, the current price target is an average from 2 analysts. The new target price is close to the current share price of US$5.65. As of last close, the stock is up 41% over the past year. 