Elys Game Technology and Wright Bet Ventures Surpass Top 50 Localization Partners for Ohio Expansion
NEW YORK–(BUSINESS WIRE)–Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq:ELYS)(BER:3UW), an interactive gaming and sports betting technology company, today announced that the partnership with Wright bet in Ohio surpassed the 50 Type-C retail outlets that agreed to install Elys’ sports betting solution, exceeding the company’s initial expectations for the first month. Elys has submitted its Type C application and is currently following OCCC protocols to complete outstanding items. The launch of sports betting in the State of Ohio is subject to regulatory approval, and all required licenses must be approved by the Ohio Casino Control Board (the “OCCC”).
Michele CiavarellaExecutive Chairman of Elys, said, “We couldn’t be happier with the progress of our planned expansion into Ohio, as well as the tremendous on-the-ground efforts of our partners. Wright Bet Ventures. These efforts have resulted in agreements with more than 50 retail host sites, including bars, restaurants, delis, bowling alleys, truck stops and a variety of other similar businesses across the country. Condition within the first 30 days only. We believe our strategy of installing up to two POS kiosks or ticketing kiosks at each location is highly scalable and provides a compelling value proposition to retail businesses. Importantly, our sports betting solution not only provides small businesses with a new source of revenue, but also helps them attract a clientele, which is especially valuable as restaurants and bars seek to recover on the run. following the pandemic.
The Elys technology team remains committed to developing new customer interface and back-office features that will continue to improve our customers’ competitive advantage in their respective markets by providing a highly entertaining gaming experience. Additionally, we believe our unique Build-a-Bet feature gives retailers a distinct advantage over competing vendors in Ohio, as evidenced by our experiences at Grand Central Restaurant in Washington, DC and Ocean Casino. Resort in Atlantic City, New Jersey. Since the initial launch of our first sports betting site in Washington DC in October 2021, we have quickly expanded to other sites and have seen a significant increase in betting tickets and amounts wagered through these establishments. We look forward to replicating this success in Ohio on a much larger scale.
Governor Mike DeWine signed HB 29 enacted on December 22, 2021, where Ohio’s sports betting market could be one of the largest in the nation and is expected to generate nearly $1 billion in gross gaming revenue over the next three years. Recently, the Ohio Lottery released updated operating standards for prospective Type C owners, which include requirements for financial processing, wagering systems and devices, and other items. reviews for the launch of sports betting under the type C model in the Ohio market, with an expected universal. scheduled start date of January 1, 2023.
Additional information on the Ohio location host sports betting offering can be obtained by contacting Elys Partners Adam Stachler or Raj Shah of Wright Bet Ventures via their website at: Wright Bet Ventures.
About Wright Bet Ventures LLC
Wright Bet Ventures is a Dayton, Ohio-based private equity-backed sports betting solutions company with deep roots in the region. It is majority owned and operated by an underrepresented minority in the gaming industry and is very focused on inclusion and diversity in its businesses. The company sees its mission as twofold. One is to facilitate a unique sports betting experience for local restaurant and bar owners and potentially stimulate economic growth and employment opportunities in the region. The second mission is to use a portion of her proceeds to directly help local charities and non-profit organizations in addition to the state and local tax revenue she intends to generate with this venture. One of the local nonprofits he will work with and directly support is the Head Start program with the Miami Valley Child Development Program which focuses on pre-K education in our underserved communities of color.
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”, “” intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential”, “project” and similar expressions intended to identify forward-looking statements and include statements Regarding the Company’s strategy of installing up to two point-of-sale kiosks or ticketing terminals at each location being highly scalable and offering an attractive value proposition to retail businesses, the Company is developing new customer contact features and back office which will continue to enhance customers’ competitive advantage in their respective markets by providing a highly entertaining gaming experience, the Build-a-Bet feature of the company giving retail businesses a distinct advantage over competing vendors and the company replicating in Ohio on a much larger scale, its success at Grand Central in Washington, D.C. and Ocean Casino Resort in Atlantic City, New Jersey . 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 ability to provide a compelling value proposition to retail businesses, the Company’s ability to develop new features customer contact and back office skills that will enhance customers’ competitive advantage in their respective markets, the company’s ability to replicate its success at Grand Central in Washington, D.C. and Ocean Casino Resort in Atlantic City, New Jersey in the ‘Ohio on a much larger scale, the duration and extent of the COVID-19 outbreak around the world, including the impact on state and local economies, and the risk factors described in the annual report of the company 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 periodic reports ul 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.