Working partnership established to create
mutual approach to sports betting in New York State
Elys Game Technology, Corp. (“Elys” or the “Company”)
(Nasdaq:ELYS) (NEO:ELYS), an interactive gaming and sports betting
technology company, and the New York State Restaurant Association
(“NYSRA”), the voice of the restaurant industry in New York state,
advocating to further the business interests of restaurant owners
and providing valuable support services to members, today announced
the entry into a Memorandum of Understanding (“MOU”) that expresses
a joint interest in promoting and facilitating opportunities for
food and beverage establishments to participate in the State’s
sports betting industry.
The purpose and scope of the MOU is to create a partnership that
provides the cornerstone and structure for any and all future
opportunities that benefit members of the restaurant association
and the State of New York. Elys and NYSRA will endeavor to work
together to develop and establish policies and procedures to
advance sports wagering-related opportunities for food and beverage
establishments. The joint efforts are expected to include, but are
not limited to, collective advocacy on the benefits and security of
offering leisure betting entertainment within small business
venues, and intent to maintain a product and/or service that meets
or exceeds all business and industry standards.
“We are delighted to work with the NYSRA to advance a strong,
coordinated effort that could effectively permit restaurant
industry operators to offer sports betting in a vibrant and
exciting environment where friends and family often gather to watch
and enjoy a wide range of sports events,” stated Michele Ciavarella
Elys’ Executive Chairman. “Together with our partner Grand Central
Restaurant and Bar, Elys has successfully obtained the first Class
B and Management Service Provider licenses in Washington D.C. We
expect to open at Grand Central in early October 2021 and believe
that this will be the first restaurant to be licensed to offer
sports betting in North America and a showcase for the U.S. sports
betting market in the future. Elys will provide affordable,
turn-key sports betting technology and products to Grand Central
utilizing our sophisticated, highly scalable and customizable
software developed specifically for the US market. We have always
stated that small businesses like restaurants and bars are the most
suited venues to offer sports betting and our technology makes the
most practical economic sense. This sound business proposition
could allow restaurant owners to attract customers to their
establishments and retain their loyalty through the generous number
of sports events and promotional opportunities around them.”
Mr. Ciavarella continued, “Our long-standing experience with
this business model in Italy, our first-mover efforts in Washington
D.C., and our partnership with the NYSRA are aimed at getting
restaurant and bar owners the opportunity to offer legal sports
betting in their establishments and to quickly become operational.
Additionally, this model could drive a potential ancillary revenue
center alongside food and beverages for their businesses, as well
as generating significant tax resources for the State of New York
and other states across the nation going forward. We strongly
believe that the low setup cost of our highly scalable Elys retail
and mobile on-premise platform is a win-win for small businesses
and could lend a major boost to a key industry that makes up the
core of the New York vibe.”
“The New York State Restaurant Association is excited to be
working with Elys Game Technology to bring sports betting to the
restaurant industry here in New York. Our bars and restaurants have
been devastated over the last 18 months and are in desperate need
of additional revenue streams. Elys Game Technology is experienced
in bringing premier sports betting to bars and restaurants all
around the world and has shown how beneficial this can be to the
bottom line of many,” said Melissa Fleischut, President & CEO
of the NYS Restaurant Association.
About the New York State Restaurant Association
The New York State Restaurant Association (“NYSRA”), the
official voice of the restaurant industry in New York state, is a
non-for-profit the trade association for New York restaurants. We
work to further the business interests of restaurant owners and to
provide valuable support services to our members. The NYSRA
provides a platform for statewide cooperation and leadership on
advocacy issues, along with resources and support to help
restaurateurs succeed.
NYSRA provides value to members through access to powerful
resources and support. From advocacy and compliance, events and
education, to training and cost saving programs - our focus is on
helping our members grow their business and making their job
easier. Together with our members, we are shaping the future of the
restaurant industry.
Additional information is available on the NYSRA website at
www.nysra.org and can be followed on Twitter and Instagram at
@nysra.
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a B2B global gaming technology
company operating in multiple countries worldwide, with B2C online
and land-based gaming operations in Italy. In Italy, Elys offers
its clients a full suite of leisure gaming products and services,
such as sports betting, e-sports, virtual sports, online casino,
poker, bingo, interactive games and slots.
The Company’s innovative wagering solution services online
operators, casinos, retail betting establishments and franchise
distribution networks. Additional information is available on our
corporate website at www.elysgame.com.
Investors may also find us on Twitter @ELYS_gaming.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by the use of the words “could,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,”
“predict,” “potential,” “project” and similar expressions that are
intended to identify forward-looking statements and include
statements regarding partnering with the NYSRA to develop and
establish policies and procedures to advance sports
wagering-related opportunities for food and beverage
establishments, engaging in collective advocacy on the benefits and
security of offering leisure betting entertainment within small
business venues, maintaining a product and/or service that meets or
exceeds all business and industry standards, opening at Grand
Central Restaurant and Bar in early October 2021, Grand Central
being the first restaurant to offer licensed sports betting in
North America and a showcase for the U.S. sports betting market in
the future, and bringing legal sports betting to the restaurant
industry in New York. These forward-looking statements are based on
management’s expectations and assumptions as of the date of this
press release and are subject to a number of risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, the Company’s ability to develop and
establish policies and procedures to advance sports
wagering-related opportunities for food and beverage
establishments, the Company’s ability to engage in collective
advocacy on the benefits and security of offering leisure betting
entertainment within small business venues, the Company’s ability
to maintain a product and/or service that meets or exceeds all
business and industry standards, the Company’s ability to open at
Grand Central Restaurant and Bar in early October 2021 as planned,
the Company’s ability to establish Grand Central as the first
restaurant to offer licensed sports betting in North America and as
a showcase for the U.S. sports betting market in the future, the
Company’s ability to bring legal sports betting to the restaurant
industry in New York., the duration and scope of the COVID-19
outbreak worldwide, including the impact to state and local
economies, and the risk factors described in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2020 and its
subsequent filings with the U.S. Securities and Exchange
Commission, including subsequent periodic reports on Form 10-Q and
current reports on Form 8-K. The information in this release is
provided only as of the date of this release, and the Company
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210928005508/en/
Elys Game Technology, Corp. Michele Ciavarella, Executive
Chairman Tel: 1-628-258-5148 Email: m.ciavarella@elysgame.com
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