Earnings Performance3Q23 results with revenue of $8.5M and adjusted EBITDA loss of ($2.1M), which were below expectations.
Market PresenceMaintain Hold rating due to the company's recent Nasdaq delisting and its impact on share price volatility, market liquidity, and trading volume.
Revenue DeclineDecline in revenue, 11.8% year over year, was due to better sports wagering results for Ely’s customers and the temporary removal of some casino games in Italy.