Elys Game Technology comments on the status of legislation, Bills C-218 and C-13, to legalize single-event sports betting in Canada

Elys Game Technology, Corp. (NASDAQ:ELYS) (NEO:ELYS) has commented on the status of legislation, Bills C-218 and C-13, to legalize single-event sports betting in Canada.

The company said it is continuing to monitor legislative developments regarding Bill C-218 that passed on February 17, 2021, with overwhelming bi-partisan support by a margin of 303 votes in favor to 15 votes against.

Bill C-218 is now proceeding to hearings before the Justice Committee. Meanwhile, Bill C-13, an Act to Amend the Criminal Code, a similar bill regarding the legalization of single-event sports betting, is anticipated to be taken up by the House of Commons in the near future with additional hearings set for March 9 and 11.

READ: Elys extends strategic partnership with Sportradar ahead of US launch of its sports betting platform

Both of the proposed bills concern changes to the federal criminal code aimed at decriminalizing single-event sports betting. The proposed changes would allow provinces and territories to regulate and license single-event sports betting, potentially paving the way for lucrative opportunities for private businesses and service providers to access a legalized market in Canada.

“We are quite encouraged by the strong bi-partisan support that Bill C-218 received. Although there are a number of steps to be cleared before laws are enacted and an active open market can develop, this vote is another significant step towards being able to offer a safe and regulated product to the millions of sports and esports fans in Canada,” said Mike Ciavarella, executive chairman of Elys Game Technology in the statement.

“We expect that Canadian laws could emulate the open market approach taken in Europe over the past two decades. Regulation allows the government to open up the market and secure industry jobs for Canadians, as well as provide competitive wagering for Canadian players across the country. While this legislative process develops in Canada, Elys expects to continue to play an important role in assisting current Canadian operators and businesses to prepare their i-gaming and sports betting offerings through our well-established industry experience.”

Elys is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. In Italy, It offers its clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slots.

The company’s innovative wagering solution, services online operators, casinos, retail betting establishments and franchise distribution networks. It has completed the product regulatory requirements to commence B2B operations in the United States.

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