- Elys Game Technology (ELYS +22.2%) shoots higher on strong volume after the company officially lands a sports betting license from the District of Columbia.
- The District of Columbia Council approved legislation back in December of 2018 to allow its lottery to administer legal sports betting within the boundaries of the federal jurisdiction. Other companies have moved in, with William Hill (NASDAQ:CZR) the current sports betting market share leader.
- Following the development, ELYS moved to as high as $5.75 in the morning session to carve out a four-month high.
- Looking ahead, the company plans to grow in the U.S. as it leans on two decades of experience operating sports betting platforms in Italy. While Wall Street analysts are not covering Elys Game Technology (NASDAQ:ELYS) in force, Seeking Alpha author Debra Fiakas is an early bull.