Elys Game Technology Obtains JV Approval from the DC Department of Small & Local Business Development for its Planned Sportsbook at the Ozio Lounge in Washington, DC
New York, NY, September 27, 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 the approval by the DC Department of Small & Local Business Development (DSLBD) of BetDupont, LLC (“BetDupont”) Certified Business Enterprise Joint Venture (“CBEJV”) between the Company and District Hospitality, LLC (“District Hospitality”) in Washington, DC. This approval follows the previously announced sports betting partnership with District Hospitality, which operates the Ozio Lounge located at 1813 M St. NW in Washington DC The agreement has an initial term of three years from date of license issuance with a minimum of two planned extensions of 2 years each. Subject to regulatory approval from the DC Office of Lottery and Gaming (DCOLG), the BetDupont CBEJV would allow the company to operate the third location in Washington, DC for its white-label sports betting solution at the Ozio Lounge.
Following the launch of its small business strategy, Elys has already placed its sports betting solution at the Grand Central Restaurant and sports betting and expects to receive regulatory approval to open its second sports betting operation in Gentlemen’s Club locker room under the Cloakbook brand located at 476 K St NW, Washington, DC. In April 2022, the company also announced its CBEJV with AllBets Inc., and in June 2022, the company announced its planned fourth sports betting site in Restaurant and Law Lounge in Washington, DC, both of which are pending approval by the DSLBD.
“While this approval is the first in a two-step process to obtain the license required to operate our sports betting solution at the Ozio show, we believe the increasing pace of approvals demonstrates our momentum for expansion in the United States, as well as our ability to operate sports betting as an ancillary product for restaurants, bars and other small business establishments in a fully compliant manner,” commented Michele Ciavarella, Executive Chairman of Elys. “We are delighted to partner with District Hospitality and believe that the launch of our sports betting solution will help further establish the Ozio Lounge as a destination of choice for local customers and tourists.We also appreciate the support of DSLBD, which demonstrates their commitment to helping the both small businesses and the local DC economy Our sports betting solution is not only attracting attention within DC, but we think interest is growing rapidly in this sector across the country. We look forward to announcing additional outlets in the near future and replicating this success in other markets, including our recently announced expansion into the state of Ohio.”
The Ozio Lounge is located in the prestigious Dupont Circle neighborhood of Washington, DC, and is a chic lounge bar offering table and cigar service and a full-service Mediterranean/American fusion dining experience. The location is advertised as one of Washington’s best salons easily accessible from all areas of DC, Maryland and Virginia.
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 receipt of approvals from the DC Office of Lottery and Gaming and the DC Department of Small & Local Business Development to operate certain sportsbooks, the partnership with District Hospitality representing the Company’s execution of its sportsbook solution for restaurants, partnering with District Hospitality to operate BetDupont in Washington, DC’s Dupont Circle, continuing our US sports betting expansion into restaurants. urants and bars in DC and surrounding states over the next few months. 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 statements. 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 Office of Lottery and Gaming to permit the operation of certain sportsbooks, the receipt of DC Department of Small & Local Business Development approval to operate certain sportsbooks, ability to run its sportsbook solutions in restaurants, ability to operate BetDupont in the Dupont Circle area of Washington, DC. , ability to continue its expansion of sports betting in the United States in restaurants and bars in DC and surrounding states over the coming month, and the risk factors described in the company’s annual report on Form 10-K for fiscal year ended December 31, 2021 and its subsequent filings with the United States Securities and Exchange Commission, including quarterly reports subsequent 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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