Gaming and sports betting tech company Elys Game Technology announced on Wednesday that Grand Central Restaurant and Sportsbook in Washington D.C. has been granted approval from the DC Office of Lottery and Gaming to expand its sports betting operations.
The Regulation and Oversight Division has given Elys and Grand Central permission to increase the number of authorized ticket window terminals and self-service betting kiosks within the venue. The expansion is expected to allow for increased traffic to each terminal, thus improving customer experience and wager velocity, according to a press statement.
“Our partnership with Grand Central has been mutually successful and we are confident that the onboarding rate for our small business deployment will increase significantly through 2022,” said Michele Ciavarella, Executive Chairman of Elys Game Technology.
According to the executive, Elys’ growth in the small business sector is a key part of a “three-pronged approach” to drive revenue and expand into the North American gaming market, which also includes progress at a previously announced deal with Ocean Casino Resort in Atlantic City, and the ongoing development of the company’s US digital and mobile channel.
$Elys This is another key step in @elys_gaming working closely with regulators to streamline regulation of licensed small businesses and allow more restaurants and bars to enjoy the success that @grandcentraldc is experiencing pic.twitter.com/VGHJGWJmxl— Elys Game Technology (@ELYS_Gaming) February 2, 2022
“With our fast-moving U.S. deployment, we have continued to prove our cutting-edge betting technology by performing well against recognized industry leaders, and with the strong belief that we will continue to have a better retention rate, we expect to gain a stronghold in the U.S. marketplace,” added Ciavarella.
The newly announced expansion comes after the company reported significant progressive growth in betting handle at the Grand Central venue. Elys partnered with the restaurant in October last year to offer sports betting through a Class B Operator license. It was described at the time as “the first sportsbook of its kind” to be operated within an independently owned business establishment in the country.
Elys provides Grand Central with the turnkey retail betting solution on POS and kiosks hardware, as well as managed services to operate the sportsbook, including back-office and business intelligence, odds and event offerings, risk management and trading services.
December, in particular, marked a highly-successful month for the Grand Central sportsbook, with revenues exceeding $90,000, as well as approximately $735,386 in total sports wagering handled by the venue.
$Elys. "With our fast moving U.S. deployment, we have continued to prove our cutting-edge betting technology by performing well against recognized industry leaders" The official numbers speak for themselves, expect to see operators recognize this performance. pic.twitter.com/506yzsKU29— Elys Game Technology (@ELYS_Gaming) February 2, 2022
November to December month-over-month bet tickets nearly doubled from 7,951 to 12,661 in the company’s third month of operation in the US. This represents a more than fivefold increase in bet tickets and more than three times the bets wagered from October, while the hold remained “firmly in double digits,” according to a press release.
In addition to its small business approach, Elys is taking crucial steps in its partnership with Ocean Casino Resort. Under an agreement reached last year, Ely’s subsidiary USBookmaking is set to provide the casino trading management services and retail solutions as part of a new $4 million entertainment venue to debut “by summer.”
Last month, the business submitted its betting platform for certification in New Jersey, ahead of the planned deployment in the state. The company has also applied for a Transactional Waiver which, once approved, would permit the business to begin installation procedures.