NEW YORK, NY / ACCESSWIRE / February 14, 2022 / Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq: ELYS)an interactive gaming and sports betting technology company, today announced an agreement to operate a sports betting site with The Cloakroom (“Cloakroom”) located at 476 K St. NW, Washington DC, 20001 The Company’s wholly-owned subsidiary, USBookmaking, will provide sports betting services to manage sports betting risk and provide trading services.
The partnership with Cloakroom would represent the company’s second successful execution of its strategy to offer advanced betting technology through a white label sports betting solution in restaurants and bars. Elys launched its small business strategy in October 2021 with Grand Central Restaurant and Sportsbook (“Grand Central”) in the Adams Morgan area of Washington, DC. Since then, sequential metrics for October, November and December have shown significant period-over-period growth for Elys and Grand Central.
“We are thrilled to begin working with Elys Game Technology and their incredible team, and look forward to a profitable and successful partnership,” said Tony Cavasilios, co-owner of The Cloakroom. “We expect The Cloakroom’s new partnership with Elys and USBookmaking to generate revenue for both parties, as well as increase food and beverage sales and customer loyalty within our establishment. We believe The Cloakroom will be the first adult entertainment venue to operate a licensed Class B sports betting business in the United States, and we very proudly invite everyone to visit our new sports betting floor which will be opening soon.”
“We are very pleased with the commitment that Cloakroom’s owner and management team has made to drive forward this exciting opportunity with Elys and USBookmaking. We are also delighted to have worked closely with DC regulators to develop a streamlined application model that would allow multiple small business seekers in the District of Columbia to enjoy the business benefits that a professionally managed sports betting solution could add to their establishments,” commented Michele Ciavarella, Executive Chairman of ‘Elys.” This solution could provide an ancillary revenue stream, provide job opportunities, and significantly boost customer engagement and loyalty, while potentially increasing core business sales when customers come in for sporting events and stay for the energetic atmosphere. We believe that with their focus on customer service, the locker room could see a significant benefit to their overall business with Elys’ turnkey small business sports betting. With our strong portfolio of businesses in DC, Maryland and neighboring states, we anticipate rapid expansion into multiple locations and a trend of continued growth in gross gaming revenue from small business deployments for the foreseeable future. .
About Elys Game Technology, Corp.
Elys Game Technology, Corp., is a global B2B gaming technology company operating in multiple countries around the world, with B2C online and land-based gaming operations in Italy. Elys offers its customers a full range of leisure gaming products and services, such as sports betting, electronic sports, virtual sports, online casino, poker, bingo, interactive games and slot machines. in Italy and is present in five States of the American market. Elys’ vision is to become a world leader in the gaming industry through the development of pioneering and innovative technology.
The Company provides betting solutions, online operator services, casinos, retail betting establishments and franchise distribution networks. Additional information is available on our corporate website at www.elysgame.com.
Investors can also find us on Twitter @ELYS_gaming.
About the locker room
The Locker Room is a multi-level adult entertainment venue located in the heart of the Mount Vernon Triangle, NW Washington, DC. The venue is considered one of Washington’s most exclusive lounges and has been nominated by the industry for “Best Gentlemen’s Club in the Nation”. Cloakroom also has a year-round rooftop bar that will play a pivotal role in its unique betting operations. Additional information can be found on the venue’s website at www.cloakroomdc.com
Friends can follow Cloakroom on Instagram: @Cloakroom_DC and on Twitter: @CloakroomDC.
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. Such statements are identified by the use of the words “may”, “believe”, “anticipate”, “have intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential”, “project” and similar expressions intended to identify forward-looking statements and include statements regarding the second successful execution of the company’s advanced gaming technology, a profitable and successful partnership, generating revenue, increasing food and beverage sales, allowing small business candidates to enjoy the business advantages of a professional bookmaker, d ‘ancillary revenue stream, job opportunities and customer engagement and loyalty, increasing the core business, seeing a trend of continued growth in a foreseeable future. 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, which could cause actual results differ materially from current expectations and assumptions from those expressed or implied by any forward-looking statement. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to operate a sportsbook with the locker room as intended, the successful execution of the Company’s advanced gaming technology as planned, generating revenue as planned, increasing food and beverage sales as planned, enabling candidate small businesses to enjoy business benefits as planned, bring an ancillary revenue stream as planned, provide employment opportunities and drive customer engagement and loyalty as planned, grow core business as planned, see a continued growth trend for the foreseeable future as planned, duration and extent the global COVID-19 outbreak, including the impact on national and local economies, and the risk factors described in the company’s annual report on Form 10-K for the fiscal year ended December 31, 2020 and its subsequent reports filed with the United States Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8- K. The information in this release speaks only as of the date of this release, and the Company undertakes no obligation to publicly update or revise 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 unforeseen events, except as required by law.
Elys Game Technology, Corp.
Michèle Ciavarella, Executive President
Email: [email protected]
KCSA Strategic Communications
Valter Pinto or Jack Perkins
Email: [email protected]
THE SOURCE: Elys Game Technology, Corp.
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