Elys Game Technology has issued a letter to its shareholders, which was written by Executive Chairman Michele Ciavarella. The letter addressed the company’s direction and accomplishments in the wake of recent market turmoil in both the US and global commercial markets.
Ciavarella wrote: “Between 2018 and 2022, with the repeal of PASPA, we focused on developing a custom-built technology specifically for the US market based on best practices gleaned from our experience in the highly regulated Italian market.
"After a temporary slowdown due to Covid-19, we launched our leading-edge sports betting platform with our first US retail customer in Washington DC.
“Following directly on the heels of this successful launch, we developed a substantially new casino property sports betting platform with several unique features.”
In its latest move toward North American expansion, Elys Game Technology recently established a joint venture with Cloakbook, LLC. The interactive gaming and sports betting company expects a sportsbook soft launch in the DC area before New Year’s Eve weekend.
The Cloakroom Gentlemen’s Club DC has been granted an operating license by the District of Columbia’s Office of Lottery and Gaming, which will allow the location to feature Elys’ sportsbook.
Players will have access to sportsbook wagering at Cloakroom’s Over Under rooftop lounge as early as 4PM on December 29.
In regards to the upcoming launch, Ciavarella wrote: “These efforts have been rewarded with the recent approval to operate a joint venture sportsbook at the Cloakroom Gentlemen’s Club and in its rooftop venue the Over Under Sportsbook and Rooftop Lounge, our second location in Washington DC."
Ciavarella also focused on the company’s sustainability and commended the leadership team for its hard work.
In the conclusion, he said: “With our efficient US development team, extensive experience of our Italian operations and outstanding engineering team, coupled with our proven technology and unique build-your-bet product, Elys is poised for effective scaling of our global business.”
