{"id":250163,"date":"2022-12-28T14:26:05","date_gmt":"2022-12-28T20:26:05","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=250163"},"modified":"2022-12-28T15:51:11","modified_gmt":"2022-12-28T21:51:11","slug":"elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/","title":{"rendered":"Elys Game Technology Says Markets Aren\u2019t Giving Stock Adequate Appreciation"},"content":{"rendered":"

Elys Game Technology (NASDAQ: ELYS), a gaming technology provider, entered Wednesday\u2019s trading session with a market capitalization of just $7.61 million and a year-to-date loss of 87.79%. But the company says those statistics indicate financial markets don\u2019t fully appreciate the underlying investment thesis.<\/p>\n

\"Elys
Elys Executive Chairman Michele Ciavarella in 2021 interview. He believes the stock is undervalued. (Image: Radius Research)<\/figcaption><\/figure>\n

In a letter to investors today, Elys Executive Chairman Michele Ciavarella highlights a variety of issues, including the company\u2019s path to profitability<\/a>, and why its tiny market cap belies what it frames as an attractive fundamental outlook.<\/p>\n

The current value of our capital stock lacks credit for the value of our cutting-edge betting technology and engineering talent, our growing and profitable Italian operations, or our future growth potential, particularly in the US market, and in other global markets,\u201d<\/strong> wrote Ciavarella.<\/p><\/blockquote>\n

He added that Elys’ share price remains depressed \u201cdue to circumstances beyond our control,\u201d and that\u2019s affecting shareholder value. Shares of Elys are volatile. The stock came into Wednesday trading at around 36 cents. At this writing, it\u2019s off 27.65% in late trading, but higher by 184.62% over the past week, and up 84% over the past month.<\/p>\n

Expansion, Kiosks Key for Elys Game Technology<\/h2>\n

Elys Game Technology is a tech provider, but it\u2019s lumped in with sports wagering equities because the company provides sports betting kiosks<\/a> to businesses such as bars and restaurants that hold permits to offer sports wagering to customers.<\/p>\n

We currently have 7 signed locations in Washington D.C., 2 in Maryland, 1 in New Jersey and 6 tribal casino clients in 4 other states, and through our agreement with the Ohio Lottery, have already signed over 100 retail host locations to offer sports betting alongside their existing lottery kiosks in Ohio,\u201d<\/strong> according to Ciavarella’s letter.<\/p><\/blockquote>\n

Elys is also providing sports betting kiosks and the related technology to a Washington, DC strip club<\/a>, which will become the first such venue in the city to offer sports wagering to patrons. While that represents new business, the US capitol city hasn\u2019t enthused Elys investors to date, though it\u2019s possible Ohio will. Sports wagering is slated to go live there early in 2023.<\/p>\n

\u201cWith our planned Ohio project getting underway over the coming months, we believe that the Company is at a key inflection point for future success and revaluation, Ciavarella wrote. “Indeed, we believe there could be significant opportunity in current and future operations that is not currently baked into our market valuation.\u201d<\/p>\n

Other Points in Elys’ Favor<\/h2>\n

With its stock trading below $1, Elys could be a candidate for receiving a delisting notice<\/a> from Nasdaq, and could also face the specter of a reverse split. But there are some potentially attractive fundamentals that could support upside for the shares, including international exposure.<\/p>\n

Through an agreement inked with Italy\u2019s Lottomatica, Elys has geographic diversity. Perhaps more importantly, the company isn\u2019t saddled with massive debt obligations, as are so many gaming operators.<\/strong><\/p>\n

\u201cNotably, the company\u2019s strength lies in the lack of significant debt on our balance sheet and successful strategic execution of our cost containment exercises,\u201d concluded Ciavarella.<\/p>\n","protected":false},"excerpt":{"rendered":"

Elys Game Technology (NASDAQ: ELYS), a gaming technology provider, entered Wednesday\u2019s trading session with a market capitalization of just $7.61 million and a year-to-date loss of 87.79%. But the company says those statistics indicate financial markets don\u2019t fully appreciate the underlying investment thesis. In a letter to investors today, Elys Executive Chairman Michele Ciavarella highlights […]<\/p>\n","protected":false},"author":46,"featured_media":250165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074,16693],"tags":[81903,80968,82041],"acf":[],"yoast_head":"\nElys Executive Chairman Ciavarella Says Stocks Isn't Getting Credit<\/title>\n<meta name=\"description\" content=\"Elys Executive Chairman Ciavarella believes company's shares are undervalued.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elys Executive Chairman Ciavarella Says Stocks Isn't Getting Credit\" \/>\n<meta property=\"og:description\" content=\"Elys Executive Chairman Ciavarella believes company's shares are undervalued.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-28T20:26:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-28T21:51:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/\",\"url\":\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/\",\"name\":\"Elys Executive Chairman Ciavarella Says Stocks Isn't Getting Credit\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MC.jpg\",\"datePublished\":\"2022-12-28T20:26:05+00:00\",\"dateModified\":\"2022-12-28T21:51:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Elys Executive Chairman Ciavarella believes company's shares are undervalued.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/elys-executive-chairman-ciavarella-says-stocks-isnt-getting-credit\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MC.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/MC.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Elys Executive Chairman Michele Ciavarella in 2021 interview. 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