Elys Game Technology, Corp. (“Elys" or the “Company")
(Nasdaq:ELYS)(BER:3UW), an interactive gaming and sports betting
technology company, is pleased to announce today that the Company
has reached agreed terms to establish an exclusive partnership with
Wright Bet Ventures LLC (“Wright Bet") to operate multiple
sportsbooks in the state of Ohio. The Company's wholly owned
subsidiary USBookmaking (“USB") will provide sport wagering
services to manage the sportsbook risk and provide bookmaking
services.
The Company looks to continue the successful Washington, D.C.
model in the state of Ohio, which could allow non-conventional
gaming venues such as bars, restaurants, and other such businesses
acquire licenses to offer a turn-key sportsbook to patrons within
their establishments. If successfully licensed by the Ohio Casino
Control Commission (the “OCCC"), the Elys and Wright Bet
partnership could offer up to 12 sportsbook locations throughout
the state of Ohio.
“We look forward to expanding our U.S. footprint into the state
of Ohio and importantly contribute to the grassroots economy by
partnering with local businesses and passionate entrepreneurs like
Dr. Kamal Morar and the entire team at Wright Bet," stated Michele
Ciavarella, Executive Chairman of Elys. “We believe that our
cutting-edge Gameboard technology puts Elys in a league of its own
as a first mover and pioneer in the U.S. small business sportsbook
sector and continuing to support minority and women owned
businesses. We have also been very active with our multipronged
approach to our operations in Europe as well as large land-based
installations in tribal casinos and at the prestigious Ocean Casino
Resort in New Jersey, along with plans to launch our unique digital
solution with Lottomatica SpA. We expect our expansion to cover
each potential sector of sports betting distribution in North
America through 2022 and 2023 and believe this growth could result
in strong corporate earnings, and extract value for our partner
businesses like Wright Bet, investors and shareholders in the
long-term."
“We are thrilled to enter into this partnership with Elys,"
stated Dr. Morar, Co-Founder of Wright Bet Ventures, who sees this
as an opportunity for a locally owned and operated entity to
partner with a professional outfit like Elys that has years of
industry know-how specifically in operating sportsbooks out of
local, more intimate venues such as restaurants and bars. “We were
very surprised that there are actually very few companies in the
industry that have the technology and focus primarily on this
space. There are many in the online and large casino sectors, but
very few are singularly focused on technology that is appropriate
to be implemented into smaller more private facilities such as
local establishments. Our vision with Wright Bet Ventures is to
bring the sportsbook experience into our community without altering
the identities of the local establishments with which we partner.
Our goal is to create the next level of interactive gaming
experiences for Ohioans while we are enjoying events with friends
and family in the comfort of places we already know and love,"
continued Dr. Morar.
Governor Mike DeWine signed HB 29 into law on December 22, 2021,
where Ohio's sports betting market could be one of the country's
largest and is anticipated to generate nearly $1 billion in gross
gaming revenue. Recently, the OCCC released updated regulations on
house rules and license-specific proprietor duties as well as
responsible gambling programs. Subject to the completion and
assessment of public comments, the anticipated launch for sports
betting in Ohio is scheduled for January 2023.
With its extensive experience in regulated markets, Elys
endeavors to work with state regulators to bring the small business
sportsbook solution to the massive, underserved network of
unconventional betting locations and establishments throughout the
nation. With the initial launch in Washington DC and soon expected
with Wright Bet in Ohio, the unique Elys small business sportsbook
model could be a key driver for economic recovery, employment
growth and increase in visiting patrons for businesses hard hit by
the pandemic.
About Wright Bet Ventures LLC
Wright Bet Ventures is a private equity backed sports wagering
solutions business based out of Dayton, Ohio with deep roots in the
region. It is majority-owned and operated by a minority that is
underrepresented in the gaming industry and is very focused on
inclusion and diversity in its ventures. The company sees its
mission as two-fold. One is to facilitate a unique sportsbook
experience for local restaurant and bar owners and potentially
drive economic growth and job opportunities in the region. The
second mission is to use some of its proceeds to directly help
local charities and nonprofits in addition to the state and local
tax revenue it intends to generate with this venture. One of the
local nonprofits that it will be directly working with and
supporting is the Head Start Program with the Miami Valley
Childhood Development Program which is focused on pre-K education
in our underserved communities of color.
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. 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 in Italy and has operations in
five states as well as the District of Columbia in the U.S. market.
Elys' vision is to become a global leader in the gaming industry
through the development of pioneering and innovative
technology.
The Company provides wagering solutions, 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 operating multiple sportsbooks in the state of
Ohio, allowing non-conventional gaming venues acquire licenses to
offer a turn-key sportsbook within their establishments, offering
up to 12 sportsbook locations throughout the state of Ohio,
expanding into the state of Ohio, contributing to the grassroots
economy by partnering with local businesses and passionate
entrepreneurs and supporting minority and women owned businesses,
plans to launch our unique digital solution, expanding to cover
each potential sector of sports betting distribution in North
America through 2022 and 2023 resulting in strong corporate
earnings and extracting value, bringing the sportsbook experience
into the community without altering the identities of local
establishments, creating the next level of interactive gaming
experiences for Ohioans, Ohio’s sports betting market being one of
the country's largest and anticipated to generate nearly $1 billion
in gross gaming revenue, the anticipated launch for sports betting
in Ohio scheduled for January 2023, bringing the small business
sportsbook solution to the massive, underserved network of
unconventional betting locations and establishments throughout the
nation, driving economic recovery, employment growth and increase
in visiting patrons for businesses hard hit by the pandemic. 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 operate multiple sportsbooks and expand its footprint in the
state of Ohio, the Company’s ability to acquire licenses to offer a
turn-key sportsbook within small business establishments and offer
up to 12 sportsbook locations throughout the state of Ohio, the
Company's ability to contribute to the grassroots economy by
partnering with local businesses and passionate entrepreneurs and
support minority and women owned businesses, the Company's ability
to launch its unique digital solution, the Company's ability to
expand to cover each potential sector of sports betting
distribution in North America through 2022 and 2023, the Company's
ability to produce strong corporate earnings and extract value for
its partner businesses, investors and shareholders in the
long-term, the Company's ability to bring the sportsbook experience
into the community without altering the identities of local
establishments, the Company's ability to create the next level of
interactive gaming experiences for Ohioans, the ability for Ohio’s
sports betting market to be one of the country's largest and to
generate nearly $1 billion in gross gaming revenue, the ability to
launch sports betting in Ohio by January 2023, the Company's
ability to bring the small business sportsbook solution to the
massive, underserved network of unconventional betting locations
and establishments throughout the nation, the Company's ability to
drive economic recovery, employment growth and increase in visiting
patrons for businesses hard hit by the pandemic, 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, 2021 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/20220425005301/en/
Elys Game Technology, Corp. Michele Ciavarella, Executive
Chairman Tel: 1-628-258-5148 Email: m.ciavarella@elysgame.com
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