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Elys Game Technology Announces Approval to Expand Washington DC Restaurant Sportsbook
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Elys Game Technology announces that the Grand Central Restaurant in Washington D.C. has received approval from the DC Office of Lottery and Gaming to expand its betting operations. This expansion includes more ticket window terminals and self-service kiosks, enhancing customer experience and wager velocity. Elys aims to boost growth in the small business sector and is optimistic about its U.S. market retention rates. The company reported a significant increase in betting handle at Grand Central and anticipates continued economic benefits for local businesses.
Positive
Approval to expand betting operations at Grand Central Restaurant enhances customer experience.
Significant growth in betting handle indicates strong performance of Elys' technology.
Partnerships with small businesses may boost revenue and market presence in the U.S.
Negative
Risks associated with competition in the U.S. gaming market may impact growth.
Forward-looking statements are subject to uncertainties, including economic factors.
Grand Central Restaurant Granted Approval to Expand Betting Operations.
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 announces that Grand Central Restaurant and Sportsbook in Washington D.C. (“Grand Central”) has been granted approval by the DC Office of Lottery and Gaming, Regulation and Oversight Division to increase the number of authorized ticket window terminals and self-service betting kiosks. The expansion allows for increased traffic to each terminal improving customer experience and wager velocity.
“Our partnership with Grand Central has been mutually successful and we are confident that the onboarding rate for our small business deployment will increase significantly through 2022. Elys’ growth in the small business sector is one part of our three-pronged approach to drive revenue and expand into the North American gaming market that includes progress at the Ocean Casino Resort in Atlantic City and the ongoing development of the Company’s U.S. digital and mobile channel,” stated Michele Ciavarella, Executive Chairman of Elys Game Technology. “With our fast moving U.S. deployment, we have continued to prove our cutting-edge betting technology by performing well against recognized industry leaders,and with the strong belief that we will continue to have a better retention rate, we expect to gain a stronghold in the U.S. marketplace.”
The Company recently announced significant progressive growth in betting handle served at Grand Central, situated in the Adams Morgan district of Washington D.C., the first Class B small business location of its kind in the U.S. The performance of Elys’ technology and expert trading services through US Bookmaking reflects the potential economic advantage and employment opportunities that the model brings to small businesses establishments.
Elys Game Technology, Corp., is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. Elys offers its clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slots in Italy and has operations through its wholly owned subsidiary under the US Bookmaking brand in 5 states in the U.S. market.
The Company’s innovative wagering solution, services online operators, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.
Investors may also find us on Twitter @ELYS_gaming.
Forward-Looking Statements
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. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements and include statements regarding increased traffic to each terminal improving customer experience and wager velocity, our onboarding rate for our small business deployment, belief that we will continue to have a better retention rate, gaining a stronghold in the U.S. marketplace, potential economic advantage and employment opportunities. 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 that could cause actual results to differ materially from current expectations and assumptions from those set forth 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 ability to increase traffic to each terminal improving customer experience and wager velocity as planned, onboard small businesses as planned, having a better retention rate and gaining a stronghold in the U.S. marketplace as expected, reflect economic advantage and employment opportunities in small business establishments as expected, the duration and scope of the COVID-19 outbreak worldwide, including the impact to state and local economies, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly 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 unanticipated events, except as required by law.
