Elys Game Technology expands fifth Washington, DC location with Sportsbook at Entitlement Restaurant and Cigar Lounge
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 the agreement with Petworth Wagering, LLC to operate a bookmaker at the Entitlement Restaurant and Cigar Lounge (“Right”) located at 829 Upshur Street NW, Washington D.C. The Company’s wholly-owned subsidiary, USBookmaking, is expected to provide sports betting and bet origination services to manage risk associated with sport bets.
Entitlement is a full-service neighborhood restaurant and lounge located in one of DC’s trendiest communities in the Petworth District of Washington, DC. The venue serves traditional American cuisine and a range of beverages in an inclusive environment designed for socializing and networking. If licensed, Entitlement will become the fifth restaurant and bar in Washington, D.C. where patrons can enjoy the excitement of sports betting on the Elys sports betting system in the comfort and ambience of their favorite social establishment. . The agreement has an initial term of three years from the date of issue of the license with two possible extensions of 2 years each.
In October 2021, Elys launched its small business strategy to place a white label bookmaker in restaurants and bars across the Grand Central Restaurant and sports betting in the Adams Morgan neighborhood of Washington, DC.
“We look forward to launching our fifth sportsbook with our latest partners and management team at Entitlement Restaurant and Cigar Lounge in the Petworth District of Washington, DC. and to further expand our sports betting footprint in restaurants and bars in DC and surrounding states over the coming months,” commented Michele Ciavarella, Executive Chairman of Elys. “We believe that adding sports betting in an exciting environment where customers can enjoy their favorite food and drink could bring a whole new vibe to the establishment and could generate ancillary revenue and foster employment opportunities for small businesses. businesses. The partnership with Entitlement further confirms the scalability and flexibility of Elys’ retail sports betting solution and is a key driver on our path to profitability and developing long-term shareholder value in Elys gaming technology.
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 right to become Washington, D.C.’s fifth Restaurant on the Elys sports betting system, launching sports betting with our latest partners and management team at Entitlement Restaurant and Cigar Lounge, expanding our restaurant sports betting footprint and bars in DC and surrounding states over the next few months, belief that sports betting could bring a whole new vibe to establishments, generate ancillary revenue and fav Drive employment opportunities for small businesses, with the law providing further affirmation of the scalability and flexibility of Elys’ retail sports betting solution, driving profitability and long-term shareholder value. 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 license and launch the fifth restaurant in Washington, D.C. on the Elys sports betting system, the company’s ability to expand its sports betting footprint in restaurants and bars in DC and surrounding states over the coming months, the company’s belief that the addition of sports betting could bring a whole new vibe to establishments , the Company’s ability to generate ancillary revenue and foster small business employment opportunities, the Company’s ability to further assert the scalability and flexibility of Elys’ retail sports betting solution through partnership with Entitlement, the company’s ability to generate long-term profitability and shareholder value, 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 subsequent periodic 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.