Why Is Elys Game Technology Stock Increasing In Pre-Market Session Today?

Following the release of information on its annual general meeting, shares of Elys Game Technology Corp. (Nasdaq: ELYS) were up 26.50% at $0.3289 at the time of our last check in pre-market trading.

When will ELYS convene its meeting?

The annual meeting (the “Meeting”) of shareholders for Elys Game Technology (ELYS), is scheduled for Friday, December 30, 2022, at 8 a.m. (Eastern Standard Time) at the company’s Rome administrative offices at Villa Cavalletti, Via 24 Maggio, 73, 00046 Grottaferrata (Rome), received an update today.

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Elys Game Technology planned to take safeguards for social estrangement for individuals who attend the Meeting in person due to the daily evolution of the COVID-19 transmission that has recently increased. ELYS advised all Shareholders to cast their votes via proxy prior to the Meeting.

ELYS sent out a letter to its shareholders

As the firm nears the end of yet another year of formative advances, ELYS recently sent a letter to shareholders. In light of the recent unrest in both the global and American markets, ELYS used the occasion to highlight a number of noteworthy successes and allay any worries.

With regard to the upcoming annual meeting of shareholders, ELYS also spoke about the detrimental effects that unrest has had on the gaming industry, notably on its stock price. It also spoke about the company’s viability and the commitment of its founders and senior management.

ELYS receives funding

The District of Columbia’s Office of Lottery and Gaming (“DCOLG”) granted ELYS a Standard Class B Joint Venture Sports Wagering Operator License this week, allowing it to start operating a sportsbook.

The grant was announced for ELYS and the Cloakbook, LLC (“Cloakbook”), a joint venture between the Company and the Cloakroom Gentlemen’s Club DC (“Cloakroom”), an independently owned company located at 476 K St NW in Washington, D.C.

ELYS anticipates a modest debut in advance of the hectic New Year’s Eve sports weekend, with the first bets scheduled for today at 4:00 PM (EST) in the Cloakroom and Over Under Sportsbook Rooftop Lounge (“Over Under”).

How does ELYS envision that funding aiding its growth?

Elys Game Technology (ELYS), which opened its second small business sportsbook in Washington, D.C., was incentivized by the news that it had been given the first joint venture license with its partners at Cloakbook to start offering sports betting services inside the Cloakroom Gentlemen’s Club and the Over Under rooftop lounge. ELYS is adamant that this area of retail sports betting in local businesses may play a significant role in boosting local jobs and the economy at the neighborhood level across the United States and Canada.

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