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Elys Selected by Rod ‘N’ Reel Resort to Provide its Land-Based Sportsbook Service
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Elys Game Technology has partnered with Rod ‘N’ Reel Resort in Chesapeake Beach, MD, to offer land-based sportsbook services, pending regulatory approval. Elys will earn a percentage of sports betting revenue generated at the resort. The Maryland Lottery and Gaming Control Agency have approved new rules for sports betting, with Rod ‘N’ Reel being one of seven entities granted a sportsbook license. This partnership aligns with Elys' North American expansion strategy and supports local community development.
Positive
Partnership with Rod ‘N’ Reel Resort to provide sportsbook services, expanding market presence.
Maryland regulatory approval enhances revenue potential from sports betting.
Positioning as a premier destination for local community and visitors.
Negative
Dependence on regulatory approval before sportsbook operations commence.
Risks associated with Rod ‘N’ Reel's renovation project completion and operational readiness.
NEW YORK--(BUSINESS WIRE)--
Elys Game Technology, Corp. (“Elys” or the Company”) (Nasdaq: ELYS), an interactive gaming and sports betting technology company, today announced a partnership with Rod ‘N’ Reel Resort in Chesapeake Beach, MD to provide its land-based sportsbook services. Under the agreement, for providing the sportsbook platform and services, Elys will receive a percentage of all sports betting revenue generated at the resort pending final regulatory approval.
The Maryland Lottery and Gaming Control Agency recently approved new rules for Maryland sports betting. Rod ‘N’ Reel Resort was one of just seven named ‘class B’ entities in the state of Maryland guaranteed a sportsbook license. Rod ‘N’ Reel Resort is currently undergoing a significant three-phase renovation project and expects to commence land-based sportsbook betting upon regulatory approval.
Mary Lanham, President of Rod ‘N’ Reel Resort, commented, “Prior to selecting Elys as our sportsbook provider, we evaluated a number of potential solutions. Elys’ platform and team clearly stood out based on the ease of use and integration with our existing operations, their proven track record with major casinos, as well as their decades of experience in the regulated sportsbook market. We look forward to offering sports gaming as an amenity to the resort experience, establishing Rod ‘N’ Reel Resort as a premier destination for the local community and visitors along the Chesapeake Bay. We also appreciate the support of the Maryland Gaming Commission in granting us this license and believe this major initiative will support the local community by providing quality jobs and maintaining gaming revenue within the state.”
Michele Ciavarella, Executive Chairman of Elys Game Technology, stated, “We are excited to enter this partnership with the Rod ‘N’ Reel Resort in Maryland, and to provide an end-to-end, first-in-class “Build-a-Bet” sportsbook solution consistent with the amazing experience that Rod “N” Reel Resort currently offers its guests, and we look forward to working with management to fulfil their inaugural sportsbook goals. This is yet another example of how we are executing on our North American expansion strategy, by providing a proven and unique retail sportsbook solution to a variety of business operators ranging from restaurants and sports bars to premier resorts around the country. We believe our unique auxiliary Build-a-Bet mobile platform is an industry first and a key tool for operators to attract and maintain their loyal customers.”
About Rod ‘N’ Reel Resort
Located on Maryland’s picturesque Chesapeake Bay western shore, Rod ‘N’ Reel Resort is a family-friendly, waterfront destination just a short drive from Washington, D.C., Baltimore, and Annapolis. With over 300 boat slips, three full-service restaurants, Gaming, Charter Fishing, Salon and Spa, Barber Shop, Water Sport Rentals, and 71 hotel rooms, Rod N Reel Resort is the best entertainment venue on the Chesapeake Bay. Gaming at Rod ‘N’ Reel Resort features over 275 pull tab machines, live bingo sessions with a year-round calendar of special events, from progressive jackpots to HOT SEAT drawings. Additional information is available at: https://www.rnrresortmd.com/
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 Company’s plans to provide Rod ‘N’ Reel Resort in Chesapeake Beach, MD land-based sportsbook services, Rod ‘N’ Reel Resort commencing land-based sportsbook betting upon regulatory approval, establishing Rod ‘N’ Reel Resort as a premier destination for the local community and visitors along the Chesapeake Bay, the Maryland licensing initiative supporting the local community by providing quality jobs and maintaining gaming revenue, the Company working with management at Rod ‘N’ Reel Resort to fulfil their inaugural sportsbook goals, the Company executing on its North American expansion strategy and the Company’s auxiliary mobile Build-a-Bet platform being an industry first and key tool for operators to attract and maintain their loyal customers. 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 provide its land-based sportsbook services to Rod ‘N’ Reel Resort as planned, Rod ‘N’ Reel’s ability to complete its renovation project and secure regulatory approvals as planned, the Company’s ability to execute on its North American expansion strategy, the Company’s ability to enhance product performance, 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, 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.
