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

Elys Game Technology Corp 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.