Elys Game Technology Announces Expansion of Washington DC Restaurant Sportsbook Location
Elys Game Technology reported strong results from its first U.S. small business operations at Grand Central Restaurant and Sportsbook in Washington D.C. for Q1 2022. December revenues exceeded $90,000, with total sports wagering handled reaching $735,386. The company aims to expand its player terminals and anticipates continued month-over-month revenue growth. Elys also plans to open its first large venue retail location at Ocean Resort Casino in Atlantic City, showcasing the potential for scalability across the U.S. and Canada.
- December revenues exceeded $90,000.
- Total sports wagering handled reached $735,386.
- Bet tickets increased month-over-month from 7,951 to 12,661.
- Expectation of continued revenue growth in the new year.
- Plans to expand player terminals in successful small business location.
- None.
Elys reports strong results in first quarter of U.S. small business operations.
NEW YORK, NY / ACCESSWIRE / January 20, 2022 / Elys Game Technology, Corp. ("Elys" or the "Company") (NASDAQ:ELYS) (BER:3UW), an interactive gaming and sports betting technology company, today announces that promising results in the Company's first U.S. small business location at Grand Central Restaurant and Sportsbook in Washington D.C. accelerated expansion plans to increase the number of player terminals within the establishment.
Elys launched its small business strategy in October of last year with the Grand Central Restaurant and Sportsbook ("Grand Central"). December marked a highly successful month for Grand Central, with revenues exceeding
Brian Vasile, owner of Grand Central stated "We wanted to make a significant impact in sports betting in DC - and we are doing that with Elys as our Management Services Provider. Having a partner whose knowledge and experience in sports betting, complemented by their ability to efficiently resolve any situation, has been critical to Grand Central Sportsbook's success. Elys is a key factor in our growth in this market."
"2022 is shaping up to be a major inflection point as the Company continues to ramp up on a strong pipeline of clients both in Canada and the U.S. The Company's North American go-to-market strategy has been performing exceptionally well since the launch of its newly designed U.S. betting platform in October," said Michele Ciavarella, Elys' Executive Chairman.
Table 1: October through December Results
October | November | December | |
Bet tickets | 2,508 | 7,951 | 12,661 |
Handle | |||
Payouts | |||
GGR* | |||
Hold |
*Gross Gaming Revenue
November to December month-over-month bet tickets nearly doubled from 7,951 to 12,661 in the Company's third month of operation in the US. This represents a more than fivefold increase in bet tickets and more than three times the bets wagered from October, while the Hold remained firmly in double digits.
Mr. Ciavarella continued, "The early performance at Grand Central has been extremely encouraging for Elys and has garnered considerable attention from potential operators in nearby states. Remarkably, the results at Grand Central are generated from only one kiosk and one point of sale terminal (POS or Ticket Window) and is a testament to the strong relationship between small businesses and their patrons. With this success, Elys is actively working with Grand Central to double the number of access points which would increase capacity and customer convenience."
The Company anticipates continued revenue growth month-to-month and expects these trends to continue in the new year. The exceptional results of the Elys platform within a single small-business location represents the tremendous potential for scalability across the U.S. and Canada. In March, Elys also expects to expand with its first large venue retail location at the Ocean Resort Casino in Atlantic City, N.J. This growth in both small business and casino locations demonstrates the versatility of Elys servicing the full spectrum of brick-and-mortar locations.
About Elys Game Technology, Corp.
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 US 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 garnering considerable attention from potential operators in nearby states, doubling the number of access points to increase capacity and customer convenience, continuing to gain a strong presence in the U.S. sports betting market, continued revenue growth month-to-month and these trends continuing in the new year, small-business locations representing tremendous potential for scalability across the U.S. and Canada, expanding with its first large venue retail location at the Ocean Resort Casino in Atlantic City, and the versatility of Elys servicing the full spectrum of brick-and-mortar locations. 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 continue to garner considerable attention from potential operators in nearby states as expected, doubling the number of access points to increase capacity and customer convenience as planned, continue to gain a strong presence in the U.S. sports betting market as expected, continue revenue growth month-to-month and these trends to continuing in the new year as expected, small-business locations representing tremendous potential for scalability across the U.S. and Canada as expected, expand with its first large venue retail location at the Ocean Resort Casino in Atlantic City as planned, Elys servicing the full spectrum of brick-and-mortar locations as planned, 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.
Contacts:
Elys Game Technology, Corp.
Michele Ciavarella, Executive Chairman
Tel: 1-628-258-5148
Email: m.ciavarella@elysgame.com
Investor Contact:
KCSA Strategic Communications
Valter Pinto or Jack Perkins
Tel: 1-212-896-1254
Email: ELYS@KCSA.com
SOURCE: Elys Game Technology, Corp.
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