Elys Game Technology and Grand Central Announce Joint Venture to Establish Second Sports Betting Site in Washington DC
NEW YORK, NY, Oct. 03, 2022 (GLOBE NEWSWIRE) — Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq: ELYS)(BER:3UW), an interactive gaming and sports betting technology company, today announced that it has reached an agreement to extend its current partnership with the Grand Central Restaurant and sports bettingby forming a new joint venture (JV) to open a second sports betting site in Washington DC The specific location has not yet been disclosed and is subject to approval by the DC Department of Small & Local Business Development (DSLBD) and from the DC Office of Lottery and Gaming (DCOLG).
Michele Ciavarella, Executive Chairman of Elys Game Technology, said, “Our Management Service Provider (MSP) license with Grand Central Restaurant and sports betting (Grand Central), marked the first small business Class B sports betting site of its kind in the United States. We are extremely satisfied with the strong performance from this prime location in DC’s Adams Morgan neighborhood, as illustrated by the betting handful’s continued growth. Given this joint success, we are proud to now announce plans for a second sports betting site with ownership of Grand Central in Washington DC We believe our sports betting solutions could play an important role in supporting the recovery of bars, restaurants and other small businesses post-pandemic, and are seeing very strong interest and demand for our solutions and our hugely popular Create your bet feature for sports bettors. We appreciate DCOLG’s support in establishing and developing our first MSP location and, together with DSLDB, we now look forward to working closely with district officials and the property to advance plans for this second location and others in progress thanks to this new model of implementation.
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a global B2B gaming technology company operating in multiple countries around the world, with B2C online and land-based gaming operations in Italy. Elys offers its customers a full range of leisure gaming products and services, such as sports betting, electronic sports, virtual sports, online casino, poker, bingo, interactive games and slot machines. in Italy and is present in five States as well as in the District. of Columbia in the US market. Elys’ vision is to become a world leader in the gaming industry through the development of pioneering and innovative technology.
The Company provides betting solutions, online operator services, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.
Investors can also find us on Twitter @ELYS_gaming.
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. Such statements are identified by the use of the words “may”, “believe”, “anticipate”, “have intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential”, “project” and similar expressions which are intended to identify forward-looking statements and include statements regarding receiving approvals from the DC Department of Small & Local Business Development and the DC Office of Lottery and Gaming, with our sportsbooks playing an important role in supporting post-pandemic recovery, advancing plans for this second site and others underway thanks to this new delivery model. 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, which could cause actual results differ materially from current expectations and assumptions from those expressed or implied by any forward-looking statement. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s receipt of regulatory approval from the DC Department of Small & Local Business Development and the DC Office of Lottery and Gaming, the ability to play an important role in the post-pandemic recovery for bars, restaurants and other small businesses, the ability to advance plans for this second location and others underway through this new delivery model implementation, and the risk factors described in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and its subsequent filings with the United States Securities and Exchange Commission, including reports subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. The information in this release speaks only as of the date of this release, and the Company undertakes no obligation to publicly update or revise 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 unforeseen events, except as required by law.
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