Elys Game Technology, Corp., an interactive gaming and sports betting technology company, is pleased to announce that the Company has entered into an agreement with T & L Hospitality Inc. (“T & L”) to operate a sportsbook at a venue which could in the future be repurposed as a sportsbook within a hotel situated at 2700 New York Avenue NE in Washington, DC. The sportsbook will also be managed by M. Jones and Company, a DC Certified Business Enterprise (“CBE”) as part of the Company’s contribution to involving local businesses in sports betting opportunities in DC.
If successfully licensed, the partnership with T & L Hospitality would represent the Company’s seventh execution of its retail sportsbook solution in Washington, DC. The planned layout is expected to consist of an express betting area where patrons could use Elys’ Build-Your-Bet mobile booking tool to simply walk-in and scan the mobile QR code to complete their wager, and also potentially install a full-fledged 4,900 square foot sportsbook lounge, with an additional 6,990 square foot restaurant space including a VIP room and bar amenities. The location is ideally suited to conveniently service both drop-by bettors as well as sit-and-stay sportsbook patrons, with ample parking for at least 200 vehicles. The agreement has an initial term of three years from the commencement date of sports wagering at the location with two possible extensions of 2 years each.
“We are thrilled to partner with T & L Hospitality to operate this exciting new venue in Washington, DC, and being situated along the border of DC and MD, makes this venue accessible to players from both states. We look forward to continuing our sportsbook expansion within restaurants and bars in DC and neighboring states over the coming months,” commented Michele Ciavarella, Elys Executive Chairman. “The scaling of this distribution model is strongly gaining momentum in DC with the new JV model implemented as a result of a team effort and consultation with DC regulators. In addition, other jurisdictions such as Ohio and Maryland are quickly adopting this model in an effort to assist local neighborhood business decimated by the pandemic to leverage their loyal customers by providing an interactive on-site sports betting experience, while supplementing their post-pandemic revenue streams.
We continue to believe that Elys’ distributed model technology architecture and algorithmic trading platform puts us in the enviable position of becoming a market leader as the U.S. and Canada, where, we believe that legislators will continue to accelerate the approval for sports betting in small business venues rather than exclusively through mobile channels. This small-business retail model presents not only an opportunity for neighborhood business entrepreneurs to leverage their established customer relationships, but could also drive economic opportunities in grass roots businesses.”
