Class B license model represents a potential
paradigm shift for the sports betting market across the United
States
Elys Game Technology, Corp. (“Elys” or the
“Company”) (Nasdaq:ELYS) (NEO:ELYS), an interactive gaming and
sports betting technology company, and Grand Central LLC (“Grand
Central”), an independently owned operator of the Grand Central
Restaurant & Bar located in the Adams Morgan area of
Washington, D.C., today announced the grant by the District of
Columbia’s Office of Lottery and Gaming (OLG) of a Class B Operator
license to Grand Central to operate a sportsbook within the Grand
Central Restaurant & Bar and of a provisional Class B Standard
Management Services Provider License to the Company in conjunction
with management services to be provided to Grand Central.
The Grand Central venue will offer sports betting alongside food
and beverages providing a unique customer experience and is
believed to be the first sportsbook of its kind to be operated
within an independently owned business establishment in the U.S.
The Class B license allows a full-service sportsbook with no
restrictions on maximum bets to be wagered and where all winnings
can be redeemed on-site. Elys will provide Grand Central with the
turn-key retail betting solution on POS and kiosk hardware as well
as managed services to operate the sportsbook, including
back-office and business intelligence, odds and event offerings,
risk management and trading services, while both Elys and Grand
Central will collaborate on customer-engagement campaigns,
marketing, and any co-branding ventures. To allow sufficient time
for staff training and hardware installation, it is expected that
wagering on sports will be offered at Grand Central in or around
October 2021 with the on-premise mobile app to be launched in
2022.
“We have been a part of the vibrant Adams Morgan neighborhood
since Grand Central opened in 2007,” stated Grand Central owner
Brian Vasile. “We are looking forward to offering our customers an
extraordinary experience to wager on their favorite teams while
enjoying our signature dishes and beverages for lunch, dinner or
gathering for team events and special games or even just dropping
in to place a wager. We are very honored to have been approved as
the first Class B licensed operator by the DC Office of Lottery and
Gaming and believe that our establishment will serve as a showcase
example for this operational model and a key role in the economic
growth of this rooted residential and commercial neighborhood, as
well as the greater DC area.”
“We are absolutely thrilled to be granted our first U.S. based
sports wagering license and are looking forward to launching our
Elys Gameboard U.S. platform at Grand Central Restaurant & Bar,
in Washington, DC. We also wish to recognise Brian Vasile, his
partners and staff who worked tirelessly with our engineering team
housed within our group technology subsidiary, Odissea, and our
U.S. operations team to achieve this significant accomplishment,”
stated Michele Ciavarella Elys’ Executive Chairman. “For ages,
sports events and championship games have been consumed and enjoyed
the most in restaurants and bars, and we believe that the unique
Class B classification established by the DC Office of Lottery and
Gaming will pioneer an entirely new and exciting vertical where
sports wagering could elevate the dining and gathering experience
at bars and restaurants throughout North America. We also believe
that this model could be adopted across multiple states to support
local and growing businesses, and that Grand Central can become the
quintessential model for operating a sportsbook within a business
that is accessible by all fans of sports.”
Mr. Ciavarella continued, “With a low-cost of deployment and
high scalability, our leading-edge micro-services technology is
perfectly suited to operate sportsbooks in the massive network of
small businesses across Canada and the U.S., and we believe small
businesses could be a major contributor to local and regional
economic development for years to come. The addition of US
Bookmaking is expected to serve a key role in the product offering
and bookmaking at Grand Central, as well as the potentially rapid
expansion expected by Elys at small businesses across the
country.”
Elys is operational in approximately 1,200 venues throughout
Italy, in both online and retail channels and is now live in 5
states with 6 tribal casinos and a restaurant bar. The Company is
planning to process applications to offer sports wagering through
its leading-edge betting platform to large and small casinos and
independent business venues in the U.S. and Canada representing one
of the most exciting long-term growth opportunities for Elys. The
provisional Standard Management Services Provider License granted
to the Company expires August 26, 2022.
The Sports Wagering Lottery Amendment Act of 2018 legalized
Sports Betting in the District of Columbia and it became law on May
3, 2019. OLG regulates privately-operated sports wagering
throughout the District, licensing and monitoring these operations
and their gaming-related suppliers for compliance with applicable
District and federal laws.
About Grand Central, LLC
Grand Central Restaurant & Bar, located at 2447 18th Street,
NW, Washington, DC, is an independently owned and operated bar and
grill founded in 2007. The establishment is well known for its
classic American pub fare and televised sports viewing. Food and
beverage service hours are 11:00 am to 2:00 am Sunday through
Thursday and 11:00 am to 3:00 am Friday and Saturday, while the
Grand Central sportsbook will open seven days a week, from 10:00 am
to 1:00 am.
Additional information is available on the Grand Central website
at www.grandcentraldc.com and can be followed on Twitter and
Instagram at @grandcentraldc.
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. 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.
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 the Class B license model representing a
potential paradigm shift for the sports betting market across the
United States, the Grand Central venue being the first sportsbook
of its kind to operate in an independently owned business
establishment in the U.S., wagering on sports being offered at
Grand Central in or around October 2021, the on-premise mobile app
launched by 2022, Grand Central serving as a showcase example for
the Class B license operational model and providing a key role in
economic growth of its neighborhood, the unique Class B
classification established by the DC Office of Lottery and Gaming
pioneering an entirely new and exciting vertical for sports
wagering throughout North America, adopting the sportsbook within a
business license model across multiple states to support local and
growing businesses, the small business market being a major
contributor to local and regional economic development for years to
come and the addition of US Bookmaking serving a key role in the
product offering and bookmaking at Grand Central, the potentially
rapid expansion expected by Elys at small businesses across the
country, and the Company’s plans to process applications to offer
sports wagering through its betting platform to large and small
casinos and independent business venues in the U.S. and Canada.
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 capitalize on the potential paradigm shift the
Class B license model represents for the sports betting market
across the United States, the Company’s ability to offer wagering
on sports at Grand Central in or around October 2021 and the
on-premise mobile app launched by 2022 as planned, the Company’s
ability to use the Grand Central venue as a showcase example for
the Class B license operational model, the Company’s ability to use
the Class B classification established by the DC Office of Lottery
and Gaming to pioneer an entirely new and exciting vertical for
sports wagering throughout North America, the Company’s ability to
implement the sportsbook within a business model across multiple
states, the ability of US Bookmaking to serve a key role in the
product offering and bookmaking at Grand Central, the Company’s
ability to process applications to offer sports wagering through
its betting platform to large and small casinos and independent
business venues in the U.S. and Canada 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210901005370/en/
Elys Game Technology, Corp. Michele Ciavarella, Executive
Chairman Tel: 1-628-258-5148 Email: m.ciavarella@elysgame.com
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