GGR declines despite turnover increase for Elys in Q3

| By Marese O'Hagan
Elys Game Technology reported a gross gaming revenue (GGR) of $10.3m, a decrease of 9.3% year-on-year, despite turnover rising in the third quarter of 2021.

A major reason for the decrease in GGR was due to the company’s hold percentage declining, primarily due to a change in the percentage of turnover that came from sports betting compared to online casino.  The company said that the closure of Elys’ Italian retail locations led to higher-margin sports betting declining, while turnover for the lower-margin vertical of online casino rose. As a result blended hold fell from 7.9% to 6.3% year-on-year.

In Q3 2020, sports betting made up 31.4% of turnover, compared to sports betting representing 19.2% of turnover in Q3 2021. Casino games, however, grew to represent 80.1% of turnover in the third quarter of 2021, compared to 67.8% in Q3 2020.

Read the full story on iGB North America.

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