Elys Game Technology Expands to Fifth location in Washington, DC with Sportsbook at Entitlement Restaurant and Cigar Lounge
June 02 2022 - 9:00AM
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 the Petworth
Wagering, LLC to operate a sportsbook at Entitlement Restaurant and
Cigar Lounge (“Entitlement”) located at 829 Upshur Street NW, in
Washington D.C. The Company's wholly owned subsidiary USBookmaking
is expected to provide sport wagering and bookmaking services to
manage the sportsbook risk.
Entitlement is a full service neighborhood restaurant lounge
situated in one of DC’s trendiest communities in the Petworth
district of Washington, DC. The venue serves traditional American
food and an array of beverages in an inclusive environment designed
for socializing and networking. If successfully licensed,
Entitlement will become the fifth restaurant and bar in Washington,
DC where patrons could enjoy the excitement of sports wagering on
the Elys sportsbook system in the comfort and ambiance of their
favorite social establishment. 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.
In October 2021, 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.
“We are looking forward to launching our fifth sportsbook with
our latest partners and management team at Entitlement Restaurant
and Cigar Lounge in the Petworth district of Washington, DC. and to
further expanding our sportsbook footprint within restaurants and
bars in DC and neighboring states over the coming months,”
commented Michele Ciavarella, Elys Executive Chairman. “We believe
that adding sports wagering within an exciting environment where
patrons can enjoy their favorite food and beverages could bring an
entirely new vibe to the establishment and could drive ancillary
revenue and foster employment opportunities for small businesses.
Partnering with Entitlement provides further affirmation of the
scalability and flexibility of the Elys retail sportsbook solution
and is a key driver in our pathway to profitability and development
of long-term shareholder value in Elys Game Technology.
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 Entitlement becoming the fifth Washington, DC
restaurant on the Elys sportsbook system, launching the sportsbook
with our latest partners and management team at Entitlement
Restaurant and Cigar Lounge, expanding our sportsbook footprint
within restaurants and bars in DC and neighboring states over the
coming months, belief that sports wagering could bring an entirely
new vibe to the establishments, driving ancillary revenue and
foster employment opportunities for small businesses, Entitlement
providing further affirmation of the scalability and flexibility of
the Elys retail sportsbook solution, driving profitability and
long-term shareholder value. 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 license and launch
the fifth Washington, DC restaurant on the Elys sportsbook system,
the Company’s ability to expand its sportsbook footprint within
restaurants and bars in DC and neighboring states over the coming
months, the Company’s belief that adding sports wagering could
bring an entirely new vibe to the establishments, the Company’s
ability to drive ancillary revenue and foster employment
opportunities for small businesses, the Company’s ability provide
further affirmation of the scalability and flexibility of the Elys
retail sportsbook solution through the partnership with
Entitlement, the Company’s ability to drive profitability and
long-term shareholder value, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220602005440/en/
Elys Game Technology, Corp. Michele Ciavarella, Executive
Chairman Tel: 1-628-258-5148 Email: m.ciavarella@elysgame.com
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