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Elys Game Technology Stock Rallies 43% After Appointing New CEO

Updated 27 Nov 2020
Elys Game Technology

Shares of gaming and sports betting company, Elys Game Technology (NASDAQ: ELYS), are rallying premarket after the company announced that it has appointed Matteo Monteverdi as its new Chief Executive Officer. 

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Monteverdi will take charge from January 1st 2021, he previously served as an independent strategic advisor to the company and was appointed President in September of this year. 

Elys’ current CEO, Michele Ciavarella, will continue his role as Executive Chairman once Monteverdi takes over. 

“Matteo brings over 20 years of industry experience, including an amazing track record in the betting, gaming and technology sectors. In the short time since joining the Company, he has already demonstrated his leadership and continuous innovation,” said Michele Ciavarella. 

“We believe his experience in driving organic revenue growth, combined with his background in M&A, will help accelerate growth in both our online and land-based retail channels,” Ciavarella continued. 

Monteverdi has been involved in the social gaming and digital betting industry for the past decade, bringing a wealth of experience to the new role. He previously served as Sportrada’s US President and was the SVP for Global Digital Products at International Gaming Technology (NYSE: IGT). 

Investors have taken kindly to the news with Elys shares rising 43.26% to $2.02 so far premarket on Friday after closing the previous session at $1.41. 

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