Elys Game Technology says that markets aren’t appreciating stocks enough.

On Wednesday, Elys Game Technology’s (NASDAQ: ELYS) stock price dropped by 87.79% to $7.61 million. The company says that shows that the financial markets don’t understand how it plans to invest.

Michele Ciavarella, the Executive Chairman of Elys, wrote to investors today about the company’s plans to make money and why its small market cap doesn’t match its positive fundamental outlook.

“Our capital stock doesn’t reflect the value of our cutting-edge betting technology and engineering skills, our growing and profitable Italian operations, or our future growth potential, especially in the US market and other global markets,” said Ciavarella.

He also said that Elys’ share price is still low “due to things we can’t control,” which hurts shareholder value. Shares of Elys go up and down. On Wednesday, the stock was worth about 36 cents. At the time this was written, it was down 27.65% in late trading, but it was up 184.62% in the last week and up 84% in the last month.

Kiosks and growth are important for Elys Game Technology

Elys Game Technology, a tech firm, supplies sports betting kiosks to regulated clubs and restaurants, making it a sports betting equity.

“Seven locations are inked in Washington, D.C., two in Maryland, one in New Jersey, and six tribal casino clients in four states. We’ve signed over 100 Ohio lottery kiosks to offer sports betting through our partnership with the Ohio Lottery “Ciavarella’s letter.

A DC strip club is receiving sports betting kiosks and related technology from Elys. Also, the city’s first sports betting club will open. Ohio might modify Elys investors’ views of the US capital city, even though this is new company. Sports betting will begin early in 2023.

“We think the Company is at a significant turning point for future performance and revaluation,” commented Ciavarella. “We think there could be a lot of space for development in our existing and future businesses that isn’t already accounted for in our market value.”

Other Plans

In addition, Elys might be delisted by Nasdaq and reverse split if its stock falls below $1. However, international exposure could boost the stock in the long run.

Elys has many places according to Italy’s Lottomatica. Importantly, the company has little debt, unlike many gaming companies.

Ciavarella noted that the company’s strength is its low debt and low costs.