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Elys Game Technology Partners with District Hospitality To Expand Restaurant Sportsbooks in Washington, DC
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Elys Game Technology, Corp. (Nasdaq: ELYS) has partnered with District Hospitality to operate the BetDupont sportsbook in Washington D.C.'s Dupont Circle. This agreement represents Elys' fourth restaurant sportsbook solution, aiming to enhance the dining and gaming experience. The partnership includes an initial three-year term with two potential two-year extensions, contingent upon licensing. Elys plans to expand its sportsbook offerings in D.C. and surrounding states, leveraging low installation costs and established customer relationships to foster growth in local businesses.
Positive
Agreement with District Hospitality for BetDupont sportsbook signifies Elys' fourth restaurant sportsbook operation.
Initial term of three years allows for potential business growth through two additional two-year extensions.
Strategic expansion plans in D.C. and neighboring states could enhance revenue streams.
Negative
Partnership is contingent on successful licensing, which poses a potential risk to the operation.
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 to operate the BetDupont, LLC (BetDupont) sportsbook with District Hospitality, LLC (District Hospitality) located at 1813 M St. NW in Washington D.C.
BetDupont, situated in the prestigious Dupont Circle area of Washington, DC, is a chic lounge bar featuring table and cigar service and full-service Mediterranean/American fusion dining experience. The location is heralded as one of Washington’s premiere lounges easily accessible from all areas of DC, Maryland and Virginia.
If successfully licensed, the partnership with District Hospitality would represent the Company’s fourth execution of its restaurant sportsbook solution. Elys launched its small business strategy to place a white label sportsbook in restaurants and bar venues at the Grand Central Restaurant and Sportsbook in the Adams Morgan area of Washington, DC. The agreement has an initial term of three years from the date of issuance of the license with two possible extensions of 2 years each.
“We are delighted to partner with District Hospitality to operate BetDupont in the Dupont Circle area of Washington, DC. and look forward to continuing our sportsbook expansion within restaurants and bars in DC and neighboring states over the coming months,” commented Michele Ciavarella, Elys Executive Chairman. “This model puts Elys in the enviable position of being able to scale up rapidly with low incremental installation costs and brings a unique experience to small business entrepreneurs that can leverage their established customer relationships and drive economic opportunities in grass roots businesses.”
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 in five states as well as the District of Columbia in the U.S. market. Elys' vision is to become a global leader in the gaming industry through the development of pioneering and innovative technology.
The Company provides wagering solutions, 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 the partnership with District Hospitality representing the Company’s fourth execution of its restaurant sportsbook solution, partnering with District Hospitality to operate BetDupont in the Dupont Circle area of Washington, DC., continuing our sportsbook expansion within restaurants and bars in DC and neighboring states over the coming months, scaling up rapidly with low incremental installation costs, bringing a unique experience to small business entrepreneurs that can leverage their established customer relationships and driving economic opportunities in grass roots businesses. 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 execute its fourth restaurant sportsbook solution, the Company’s ability to operate BetDupont in the Dupont Circle area of Washington, DC., the Company’s ability to continue its sportsbook expansion within restaurants and bars in DC and neighboring states over the coming months, the Company’s ability to scale up rapidly with low incremental installation costs, the Company’s ability to bring a unique experience to small business entrepreneurs that can leverage their established customer relationships and drive economic opportunities in grass roots businesses, 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 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.
