We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Elys Game (ELYS) Q3 Earnings and Revenues Lag Estimates
Read MoreHide Full Article
Elys Game Technology, Corp. (ELYS - Free Report) reported dismal third-quarter 2023 results, with earnings and revenues missing the Zacks Consensus Estimate. Although the top line declined year over year, the bottom line improved due to its effective cost management.
Q3 Earnings & Revenues
In the third quarter, Elys Game recorded an adjusted loss per share of 10 cents, missing the Zacks Consensus Estimate of a loss of 6 cents. The company reported an adjusted loss per share of 14 cents in the prior-year quarter.
Elys Game Technology, Corp. Price, Consensus and EPS Surprise
Quarterly revenues of $8.5 million missed the consensus mark of $11.1 million. The top line declined 11.8% year over year. The downside was primarily caused by higher payouts and decreased web-based turnover due to a reduction in online casino and poker offerings, reducing its blended revenue conversion.
During the quarter, total handle (turnover) declined 2.4% year over year to $162.6 million from $166.5 million in the prior-year quarter.
Operating expenses dropped 10.2% year over year to $11.4 million due to a decline in general and administrative and reduced technology development costs.
Other Operational Highlights
During the third quarter of 2023, Elys established a multi-year market access agreement with Caesars Entertainment to gain access to the Colorado sports betting market.
The company unveiled its new online and mobile sports betting brand for the United States market.
Balance Sheet
As of Sep 30, 2023, cash and cash equivalents amounted to $2.6 million compared with $2.5 million in the previous quarter. Operating lease liability was $1.1 million, slightly down from $1.2 million in the prior quarter.
Zacks Rank & Other Consumer Discretionary releases
Las Vegas Sands Corp. (LVS - Free Report) reported third-quarter 2023 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. During third-quarter 2023, LVS reported adjusted earnings per share (EPS) of 55 cents, surpassing the Zacks Consensus Estimate of 53 cents by 3.8%. In the year-ago quarter, it incurred an adjusted loss of 27 cents per share.
Caesars Entertainment, Inc. (CZR - Free Report) reported impressive third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Also, the top and the bottom line increased on a year-over-year basis. During the quarter, CZR recorded adjusted EPS of 34 cents, beating the Zacks Consensus Estimate of 27 cents by 25.9%. In the prior-year quarter, it reported adjusted EPS of 24 cents.
Red Rock Resorts, Inc. (RRR - Free Report) reported third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Earnings beat the consensus mark for the 14th straight quarter. Yet, the metrics declined on a year-over-year basis.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Elys Game (ELYS) Q3 Earnings and Revenues Lag Estimates
Elys Game Technology, Corp. (ELYS - Free Report) reported dismal third-quarter 2023 results, with earnings and revenues missing the Zacks Consensus Estimate. Although the top line declined year over year, the bottom line improved due to its effective cost management.
Q3 Earnings & Revenues
In the third quarter, Elys Game recorded an adjusted loss per share of 10 cents, missing the Zacks Consensus Estimate of a loss of 6 cents. The company reported an adjusted loss per share of 14 cents in the prior-year quarter.
Elys Game Technology, Corp. Price, Consensus and EPS Surprise
Elys Game Technology, Corp. price-consensus-eps-surprise-chart | Elys Game Technology, Corp. Quote
Quarterly revenues of $8.5 million missed the consensus mark of $11.1 million. The top line declined 11.8% year over year. The downside was primarily caused by higher payouts and decreased web-based turnover due to a reduction in online casino and poker offerings, reducing its blended revenue conversion.
During the quarter, total handle (turnover) declined 2.4% year over year to $162.6 million from $166.5 million in the prior-year quarter.
Operating expenses dropped 10.2% year over year to $11.4 million due to a decline in general and administrative and reduced technology development costs.
Other Operational Highlights
During the third quarter of 2023, Elys established a multi-year market access agreement with Caesars Entertainment to gain access to the Colorado sports betting market.
The company unveiled its new online and mobile sports betting brand for the United States market.
Balance Sheet
As of Sep 30, 2023, cash and cash equivalents amounted to $2.6 million compared with $2.5 million in the previous quarter. Operating lease liability was $1.1 million, slightly down from $1.2 million in the prior quarter.
Zacks Rank & Other Consumer Discretionary releases
Elys Games currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Las Vegas Sands Corp. (LVS - Free Report) reported third-quarter 2023 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. During third-quarter 2023, LVS reported adjusted earnings per share (EPS) of 55 cents, surpassing the Zacks Consensus Estimate of 53 cents by 3.8%. In the year-ago quarter, it incurred an adjusted loss of 27 cents per share.
Caesars Entertainment, Inc. (CZR - Free Report) reported impressive third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Also, the top and the bottom line increased on a year-over-year basis. During the quarter, CZR recorded adjusted EPS of 34 cents, beating the Zacks Consensus Estimate of 27 cents by 25.9%. In the prior-year quarter, it reported adjusted EPS of 24 cents.
Red Rock Resorts, Inc. (RRR - Free Report) reported third-quarter 2023 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Earnings beat the consensus mark for the 14th straight quarter. Yet, the metrics declined on a year-over-year basis.