In an effort to expand its sports betting presence in the United States, Elys Game Technology has partnered with Wright Bet Ventures in order to open and operate several sportsbooks across the state of Ohio.
Via its wholly owned subsidiary, USBookmaking, Elys will also provide sports wagering services and bookmaking options.
“We look forward to expanding our US footprint into the state of Ohio and importantly contribute to the grassroots economy by partnering with local businesses and passionate entrepreneurs like Dr. Kamal Morar and the entire team at Wright Bet," noted Michele Ciavarella, Executive Chairman of Elys.
“We expect our expansion to cover each potential sector of sports betting distribution in North America through 2022 and 2023 and believe this growth could result in strong corporate earnings, and extract value for our partner businesses like Wright Bet, investors and shareholders in the long-term."
While this deal could see Elys launch its offering in up to 12 sportsbooks, it still requires approval from the Ohio Casino Control Commission.
“We are thrilled to enter into this partnership with Elys," commented Dr. Morar, Co-Founder of Wright Bet Ventures.
“We were very surprised that there are actually very few companies in the industry that have the technology and focus primarily on this space. There are many in the online and large casino sectors, but very few are singularly focused on technology that is appropriate to be implemented into smaller more private facilities such as local establishments. Our vision with Wright Bet Ventures is to bring the sportsbook experience into our community without altering the identities of the local establishments with which we partner.”
Ohio’s Governor Mike DeWine passed HB 29 in December of 2021, allowing the market to move toward launch this year. Set to be one of the nation’s most profitable jurisdictions, predictions for annual revenue sit at around $1bn.
