Interactive gaming and sports betting technology company Elys Game Technology announced Monday it has entered into a new agreement to expand its current partnership with Grand Central Restaurant and Sportsbook in Washington D.C.
Under the terms of this new deal, the two parties will establish a new joint venture to open a second sportsbook location in DC. The specific location has not yet been disclosed, and is subject to approval by the DC Department of Small & Local Business Development and DC Office of Lottery and Gaming, noted Elys.
Michele Ciavarella, Executive Chairman of Elys Game Technology, pointed out that the brand's Management Services Provider (MSP) license with Grand Central marked the first Class-B, small-business sportsbook location of its kind in the U.S. Grand Central became the first D.C. restaurant to launch sports betting in October 2020.
"We are extremely pleased with theof this first location in the Adams Morgan district of DC, as illustrated by the continuous growth in betting handle. Given this joint success, we are proud to now announce plans for a second sportsbook location with the ownership of Grand Central in Washington D.C.," Ciavarella stated.
The CEO added that he believes the brand's solutions could play "an important role in supporting the recovery of bars, restaurants and other small businesses post-pandemic," as he noted they have been in high demand, especially the Build-Your-Bet feature for sports bettors.
"We appreciate the support of the DCOLG in establishing and developing our first MSP location and together with DSLDB we now look forward to working closely with District officials and ownership to advance plans for this second location and others underway through this new implementation model,” the executive concluded.
Back in July, in an exclusive interview with Yogonet, Ciavarella explained: "With the innovative Elys “Build-a-Bet” platform, these locations will be able to offer unique and entertaining experiences for bettors, and essentially differentiate themselves from each other by giving patrons an opportunity to enjoy a meal or beverage while watching their favorite sports events within a vibrant environment."
"It’s clear that Ely’s successful small business sportsbook installation at Grand Central Restaurant and Sportsbook has created considerable interest in this segment, not only in D.C., but also in nearby states," he said at the time. "We feel that the Class B sports betting segment is very much in its early stages for all markets across North America. These partnerships could potentially provide small businesses additional ancillary revenue from sports betting along with core business sales which can combine to drive economic growth at the grassroots level."