Elys BMG Group

ELYS

Gambling, Resorts & Casinos · Consumer Cyclical

Price

$0.00

+0.00 (+0.00%)

Market Cap

$3,744

Exchange

Other OTC

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Sep 30, 2023

Share count rising — dilution

+176.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 9.5M (2018) → 26.3M (2022)

Elys Game Technology (now operating as Elys BMG Group) is a sports betting and online gaming company. It provides a technology platform that lets people place bets on sports events and play casino-style games online. Its main customers are both individual bettors and licensed gambling operators who use Elys's software to run their own betting businesses, primarily in the United States and Italy.

The company makes money in two main ways: taking a small cut of every bet placed through its platform and charging operators fees to use its software. It operates mainly in the US and Italy, with Italy being its more established market. Despite a very high gross margin — meaning its software costs little to deliver — the company spends far more than it earns, resulting in deep operating losses and a negative return on capital. The biggest risk Elys faces is burning through cash before it can grow its US sports betting business large enough to compete against well-funded rivals like DraftKings and FanDuel.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-11.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+28.6% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

19.5%ownership

Insiders own a meaningful stake in the company

Cash Runway

~4 months

$3M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Elys BMG Group has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

95.8%

Premium pricing power — 95.8% gross margin

Operating Margin

-34.6%

Losing money on operations — -34.6%

ROCE

-45.7%

Weak — -45.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-2.5%

Shrinking sales (-2.5% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-19.0%

Burning cash (-19.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

1.37

Elevated debt (1.37)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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