Elys Gaming Technology has acquired American Betting Services (USB), a sports wagering firm situated in Nevada.
The initial payment for USB, which was split equally between cash and Elys stock, amounted to $12 million. Elys now possesses USB. The total value of the agreement could reach $41.8 million if USB achieves certain objectives.
USB will become a part of Elys but will maintain its own identity and operate autonomously.
Elys stated that the agreement grants them a presence in four states: New Mexico, Colorado, Michigan, and North Dakota. They also have a presence in Washington, D.C., and Iowa.
Elys declared that this transaction is a significant stride in their strategy to expand into the US and Canadian sports betting markets.