Elys Game Technology partners with Ohio-based group to expand into Ohio sports betting market
NEW YORK–(BUSINESS WIRE)–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 entered into agreements to establish an exclusive partnership with Wright Bet Ventures LLC (“Wright Bet”) to operate several sportsbooks in the State of Ohio. The Company’s wholly-owned subsidiary, USBookmaking (“USB”) will provide sports betting services to manage sports betting risk and provide bet origination services.
The company is looking to continue the successful Washington, D.C. model in the state of Ohio, which could allow unconventional gaming venues such as bars, restaurants and other similar businesses to acquire licenses for offer a turnkey bookmaker to customers of their establishments. If the license is successfully issued by the Ohio Casino Control Board (the “OCCC”), the Elys and the Wright Bet partnership could offer up to 12 sports betting sites across the state of Ohio.
“We look forward to expanding our American footprint in the State of Ohio and making a significant contribution to the basic economy by partnering with local businesses and passionate entrepreneurs like Dr. Kamal Morar and the whole community. ‘Wright Bet team’, said Michele Ciavarellaexecutive chairman of Elys. “We believe that our cutting-edge Gameboard technology puts Elys in a league of its own as an early mover and pioneer in the US small business sports betting industry and continuing to support minority and women-owned businesses. We have also been very active with our multi-pronged 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, as well as plans to launch our unique digital solution with Lottomatica Spa. We anticipate our expansion to cover every potential sports betting distribution sector in North America through 2022 and 2023 and believe this growth could translate into strong corporate earnings and extract value for our partner companies like Wright. Bet, long-term investors and shareholders. .”
“We are delighted to enter into this partnership with Elys“, said 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 company like Elys which has years of industry know-how, particularly in operating sports betting in more local venues. intimate places such as restaurants and bars. “We were very surprised that there are actually very few companies in the industry that have the technology and are primarily focused on this space. casinos, but very few are focused solely on technology that is suitable for implementation in smaller, more private facilities such as local establishments. Wright Bet Ventures is to bring the experience of sports betting to our community without altering the identity of the local establishments with which we collaborate. Our goal is to create the next level of interactive gaming experiences for Ohioans as we enjoy events with our friends and family from the comfort of places we already know and love,” continued Dr Morar.
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. Recently, the OCCC released updated regulations on house rules and license-specific owner obligations, as well as responsible gaming programs. Subject to completion and evaluation of public comment, the scheduled launch of sports betting in Ohio is scheduled for January 2023.
With its long experience of regulated markets, Elys strives to work with state regulators to bring the small business sports betting solution to the massive and underserved network of unconventional betting venues and establishments across the country. With initial launch in Washington D.C. and soon expected with Wright Bet in Ohio, Elys’ unique small business sports betting model could be a key driver of economic recovery, job growth and growth. increased visitor numbers for businesses hard hit by the pandemic.
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 support directly 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”, “have intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential”, “project” and similar expressions intended to identify forward-looking statements and include statements regarding the operating multiple sportsbooks in the state of Ohio, allowing unconventional gaming sites to acquire licenses to offer a turnkey sportsbook within their establishments, offering up to 12 sportsbooks in the entire state of Ohio, spanning Ohio State, contributing to the grassroots economy by partnering with local businesses and passionate entrepreneurs and supporting minority-owned businesses and to f emmes, plans to launch our unique digital solution, expanding to cover every potential ion sports betting distribution sector in North America through 2022 and 2023, resulting in strong business earnings and mining of value, bringing the sports betting experience into the community without changing the identity of local establishments, creating the next level of interactive gaming experiences for Ohioans, with the Ohio sports betting market being one of the largest in the nation and is expected to generate nearly $1 billion in gross gaming revenue, the planned Ohio sports betting launch scheduled for January 2023, bringing the small business sports betting solution to the massive network and poorly serviced from unconventional betting venues and establishments across the country, driving economic recovery, job growth and increased visitor numbers for hard-hit businesses ed 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, 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 operate multiple sportsbooks and expand its presence in the State of Ohio, the ability to the Company to acquire licenses to offer a turnkey sportsbook in small commercial establishments and offer up to 12 sports betting sites throughout the State of Ohio, the Company’s ability to contribute to the local economy by partnering with local businesses and passionate entrepreneurs and supporting minority and women-owned businesses, the Company’s ability to launch its unique digital solution, the Company’s ability to expand to cover every potential sports betting distribution business in North America through 2022 and 2023, the Company’s ability to deliver strong business earnings and extract value for its businesses. partner companies, its investors and long-term shareholders, the Company’s ability to bring the sports betting experience to the wi community without altering the identity of local establishments, the Company’s ability to create the next level of interactive gaming experiences for Ohioans, the ability of Ohio’s sports betting market to be one of the largest in the nation 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 sports betting solution to the massive and underserved network of unconventional betting venues and establishments across the countries, the company’s ability to drive economic recovery, job growth and increased customer visits to businesses hard hit by the pandemic, the duration and extent of the COVID-19 outbreak worldwide, including the impact on national 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 United States Securities and Exchange Commission, including subsequent period 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.