Elys Game sees over $20 mln in annual impairment charges, shares fall

Elys BMG

06/04/2023 15:23

** Shares of B2B global gaming technology co Elys Game
Technology Corp  ELYS.O  down 2.7% at ~$0.47
    ** Says 2022 non-cash impairment charges estimated at $20.6
mln
    ** Charges relate to recently acquired US Bookmaking (USB)
operation's goodwill of $14.5 mln and $6.1 mln related to
non-compete agreements and customer relationships - co
    ** Says it has taken action to address cost control
performance in USB division, which led to a dispute and legal
proceedings with its former management
    ** Sees gross gaming revenue from Euro based operations to
increase by ~3.7% to nearly 50.1 mln euros ($54.68 million)
    ** Including session losses, ELYS has gained 67.9% YTD
    

($1 = 0.9163 euros)

 (Reporting by Vaibhav Sadhamta in Bengaluru)
 ((Vaibhav.sadhamta@thomsonreuters.com))