Elys Game Technology and Grand Central Announce JV to Establish Second Sportsbook Location in Washington D.C.
October 03, 2022 at 09:00 AM EDT
NEW YORK, NY, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Elys Game Technology, Corp. (“Elys" or the “Company") (Nasdaq:ELYS)(BER:3UW), an interactive gaming and sports betting technology company, today announced it has entered into an agreement to expand its current partnership with the Grand Central Restaurant and Sportsbook, by establishing a new joint venture (JV) to open a second sportsbook location in Washington D.C. The specific location has not yet been disclosed and is subject to approval by the DC Department of Small & Local Business Development (DSLBD) and DC Office of Lottery and Gaming (DCOLG).
Michele Ciavarella, Executive Chairman of Elys Game Technology, commented, “Our Management Services Provider (MSP) license with Grand Central Restaurant and Sportsbook (Grand Central), marked the first Class-B, small-business sportsbook location of its kind in the U.S. We are extremely pleased with the strong performance of this first location in the Adams Morgan district of DC, as illustrated by the continuous growth in betting handle. Given this joint success, we are proud to now announce plans for a second sportsbook location with the ownership of Grand Central in Washington D.C. We believe our sportsbook solutions could play an important role in supporting the recovery of bars, restaurants and other small businesses post pandemic, and are witnessing very strong interest and demand for our solutions and our highly popular Build-Your-Bet feature for sports bettors. We appreciate the support of the DCOLG in establishing and developing our first MSP location and together with DSLDB we now look forward to working closely with District officials and ownership to advance plans for this second location and others underway through this new implementation model.”
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.
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 receipt of approvals of the DC Department of Small & Local Business Development and the DC Office of Lottery and Gaming, our sportsbooks playing an important role in supporting post pandemic recovery, advancing plans for this second location and others underway through this new implementation model. 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 receipt of regulatory approval of the DC Department of Small & Local Business Development and the DC Office of Lottery and Gaming, ability to play an important role in post pandemic recovery for bars, restaurants and other small businesses, ability to advance plans for this second location and others underway through this new implementation model, 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 quarterly 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.
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