Home > Finance > Half year results > Elys sees revenue grow in H1 despite retail declines

Elys sees revenue grow in H1 despite retail declines

| By Daniel O'Boyle
US and Italy-facing operator and supplier Elys Game Technology recorded revenue of $25.8m for the first half of the year, a 72.3% increase from 2020, as it prepares to launch its US B2B operations.

The revenue came from turnover of $463.3m, up 120.2%.

The vast majority of this turnover was online at $451.2m, a 247.8% increase, while retail brought in the other $12.0m, a decline of 56.9%.

Michele Ciavarella, Elys’ executive chairman, said the land-based division continued to be affected by the novel coronavirus (Covid-19) pandemic, but that he hoped for stronger results from that segment in H2.

“We are very pleased with the remarkable growth Elys achieved during the first six months of this year, particularly since the Covid pandemic continues to restrict certain business activities affecting our land-based operations,” he said. “We expect that some land-based betting shops could re-open by the beginning of the 2021-22 European soccer season which may provide additional B2C growth in Italy for the remainder of 2021.” 

Read the full story on iGB North America

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