Elys Game Technology has completed the acquisition of the US Bookmaking Company (USB).
This week, Elys closed a deal to acquire a 100% stake in USB, becoming a wholly-owned subsidiary of Elys. The purchase price of USB shares was $12 million, paid in 50% cash installments, and the second half was 1,265,823 million shares of common stock of the company.
Potential revenue amounts to $41.8 million by December 31, 2025.
The merger of the two companies USB has become a central part of Elys’ American brand. It also provided Elys with operations in New Mexico, Michigan and North Dakota. Two additional locations, Washington DC and Iowa, are also in the works.
This status guarantees a large increase in the client base along with an increase in revenue when transactions are fully integrated. This acquisition, along with Elys’ mission to build the US and Canadian sports betting markets, will help expand its reach.
USBBookmaking President Vic Salerno said: “USB realized it needed a sportsbook platform built for the US market to grow its client base. We’ve looked at almost every sports betting technology that exists over the past three years and have come to the conclusion that the Elys platform is superior to all other platforms.
“We expect USB’s combination of its highly skilled bookmaking team and its technologically advanced, state-of-the-art software platform to have a strong impact on the sports betting market, and we are eager to bring these strengths to our audience’s pipeline. “