New York, NY, Sept. 27, 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 approval by the DC Department of Small & Local Business Development (DSLBD) of the BetDupont, LLC (“BetDupont”) Certified Business Enterprise Joint Venture (“CBEJV”) between the Company and District Hospitality, LLC (“District Hospitality”) in Washington, DC. This approval follows the previously announced sportsbook partnership with District Hospitality, which operates the Ozio Lounge located at 1813 M St. NW in Washington D.C. The agreement has an initial term of three years from the date of issuance of the license with a minimum of two anticipated extensions of 2 years each. Subject to regulatory approval of the DC Office of Lottery and Gaming (DCOLG), the BetDupont CBEJV would allow the Company to operate the third location in Washington, DC for its white label sportsbook solution at the Ozio Lounge.
Following the launch of its small business strategy, Elys has already placed its sportsbook solution at the Grand Central Restaurant and Sportsbook and expects to receive regulatory approval to open its second sportsbook operation at the Cloakroom Gentlemen’s Club under the Cloakbook brand situated at 476 K St NW, in Washington, DC. In April 2022, the Company also announced its CBEJV with AllBets Inc., and in June 2022, the Company announced its fourth planned sportsbook location at the Entitlement Restaurant and Lounge in Washington, DC, both of which are pending approval by the DSLBD.
“While this approval is the first in a two-step process to obtain the license required to operate our sportsbook solution at the Ozio Lounge, we believe the increasing pace of approvals demonstrates our U.S. expansion momentum, as well our ability to operate sportsbooks as an ancillary product for restaurants, bars and other small business establishments in a fully compliant manner,” commented Michele Ciavarella, Elys Executive Chairman. “We are excited to partner with District Hospitality and believe the launch of our sportsbook solution will help further establish the Ozio Lounge as a premier destination for both local guests and tourists alike. We also appreciate the support of the DSLBD, which illustrates their commitment to helping both small businesses and the local DC economy. Our sportsbook solution is not only garnering attention within DC, but we believe that interest is growing rapidly in this sector across the nation. We look forward to announcing additional retail locations in the near future, and to replicating this success in additional markets, including our recently announced expansion into the state of Ohio.”
The Ozio Lounge is situated in the prestigious Dupont Circle area of Washington, DC, and is a chic lounge bar featuring table and cigar service and a 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.
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 Office of Lottery and Gaming and the DC Department of Small & Local Business Development for the operation of certain sportsbooks, the partnership with District Hospitality representing the Company’s execution of its restaurant sportsbook solution, partnering with District Hospitality to operate BetDupont in the Dupont Circle area of Washington, DC., continuing our U.S. sportsbook expansion within restaurants and bars in DC and neighboring states over the coming months. 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 Office of Lottery and Gaming to allow operation of certain sportsbooks, receipt of approval of the DC Department of Small & Local Business Development for the operation of certain sportsbooks, ability to execute its restaurant sportsbook solutions, ability to operate BetDupont in the Dupont Circle area of Washington, DC., ability to continue its U.S. sportsbook expansion within restaurants and bars in DC and neighboring states over the coming months, 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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