Elys Game Technology, an igaming and sports betting technology firm, has signed an exclusive partnership agreement in the state of Ohio with Wright Bet Ventures, a private equity-backed sports wagering solutions business based in Dayton.
The two firms will collaborate to operate up to 12 sportsbook locations in the Buckeye State if successfully licensed by the Ohio Casino Control Commission, with the sports betting tech firm rolling out the same model that was successful in its Washington DC launch.
Elys’ wholly-owned subsidiary, USBookmaking, will also supply sport wagering services to manage risk and provide bookmaking services.
“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,” stated Michele Ciavarella, Executive Chairman of Elys.
“We believe that our cutting-edge Gameboard technology puts Elys in a league of its own as a first mover and pioneer in the US small business sportsbook sector and continuing to support minority and women-owned businesses.
“We have also been very active with our multipronged approach to our operations in Europe as well as large land-based installations in tribal casinos and at the prestigious Ocean Casino Resort in New Jersey, along with plans to launch our unique digital solution with Lottomatica SpA.
Ciavarella continued: “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.”
Currently, Ohio has legalized sports wagering, but it isn’t yet operational in the state. Governor Mike DeWine signed HB 29, the state’s sports betting legislation, into law on December 22, 2021.
It is estimated that sports betting will launch in the state in January 2023, subject to the completion and assessment of public comments.
Dr Kamal Morar, Co-Founder of Wright Bet Ventures, added: “We are thrilled to enter into this partnership with Elys. 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.
“Our goal is to create the next level of interactive gaming experiences for Ohioans while we are enjoying events with friends and family in the comfort of places we already know and love,” Morar concluded.