Elys Game Technology Received Conditional Approval in Ohio

elys-game-technology-received-conditional-approval-in-ohio

Interactive gaming and sports betting technology company Elys Game Technology announced it has been granted conditional approval to operate in Ohio.

Preparations for Ohio Launch Continue

The Type C sports gaming proprietor licensure from the Ohio Casino Control Commission (OCCC) authorized Elys Game Technology to commence betting transactions in the state effective January 1, 2023, for a period of 5 years, subject to obtaining all further required certifications and licensing.

Besides paying the required licensing fees, the approval received by Elys Game Technology on November 16, 2022, is conditioned upon ongoing proprietor suitability and continuous maintenance of compliance requirements of the commission for the entire period of the license.

In anticipation of the approval by OCCC, Elys Game Technology has commenced programming of its technology platform to ensure compliance with the betting specifications of the Ohio Lottery and has moved to purchase 100 point-of-sale (POS) terminals and 100 self-service betting terminals to power sportsbooks at host locations throughout the state.

Last month, Elys announced that its partnership with Wright Bet expanded the number of sportsbook host locations in Ohio to over 100 ahead of the official launch of the sports wagering market in the state on New Year’s Day 2023 as the attractiveness of the partnership’s “proven, best-in-class, end-to-end sportsbook solution” continued to grow among restaurants, bars and other small businesses.

“Bars and restaurants are ideal locations for our sportsbook solution,” claimed Elys Game Technology executive chairman Michele Ciavarella at that time, pointing to how well sports betting complements food and beverages.

Committed to Host Location Partners and Bettors

Elys also stated its expectations then that it would be able to launch the land-based sportsbook service across all host locations alongside the official launch of the sports betting market in Ohio, and now it reiterated this commitment to process any further requirements and certifications to commence operations as soon as practicable, as well as to provide the best possible product for its host operator partners and Ohio sports bettors.

Outside of Ohio, Elys is already present across five US states and the District of Columbia, adding to its portfolio of sportsbook partners companies such as Maryland’s pool bar Top Hat Sports Bar & Grill, as well as announcing plans to open a second sportsbook location with Grand Central Restaurant and Sportsbook in Washington DC.

Earlier in the month, Elys Game Technology posted its financial results for the third quarter of 2022 in which the business performed strongly, registering a 19.4% increase in revenue despite the unfavorable dollar vs euro exchange rate. The revenue growth was paired with a decrease of 12.7% in operating expenses to mark an impressive quarter for the business.