Elys obtains platform certification for operational deployment in Ohio

(PRESS RELEASE) -- Elys Game Technology, Corp., an interactive gaming and sports betting technology company, is pleased to announce that the company has received Gaming Labs International certification to the GLI 20 v.2.0: Standards for Kiosks and GLI-33 v1.1: Event Wagering Systems standards for the self-service betting terminal operation of its Elys sports betting platform in accordance with the testing, inspection and compliance standards of the Ohio Casino Control Commission.

SSBT’s are key to the retail or land-based sports betting market, which is a focal point of Elys’ initial U.S. implementation strategy. The retail sports betting market, outside of brick-and-mortar casino operations, is a largely under-served market which complements existing revenue sources for post-pandemic challenged businesses such as neighborhood restaurants and bars, which can offer socially interactive gaming opportunities to their patrons through licensed hosts in the state of Ohio, and where permitted in future, potentially a wide array of other hospitality establishments throughout the U.S.

“With the GLI 20 and GLI 33 certification of our retail betting platform under the OCCC standards, Elys is continuing to layer the foundational blocks of our expansion throughout the U.S.,” stated Mike Ciavarella, Executive Chairman of Elys Game Technology, Corp. “The U.S. market has grown significantly since the repeal of PASPA in May 2018 with about 37 states now allowing or having passed legislation to permit some form of regulated sports betting. Our internal analysis of available statistics estimates that the annual gross revenue in the U.S. could hit approximately $10 billion in 2023 and could potentially reach approximately $16 to $21 billion by 2026 assuming that the U.S. regulatory landscape expands to 42 states. As previously stated, we continue to hold our estimate that the addressable market for our Elys technology in the U.S. can significantly outsize that of our Italian core operations over the next few years, and thus scaling value creation for our long-term shareholders.

Based on our extensive experience in the highly regulated Italian market and the knowledge of our recently acquired Engage IT team, we apply the highest standards to our certification process to minimize the risk of errors and regulatory fines and instill a sense of confidence in our current and future hosts and customers. The innovative distributed model architecture of our cutting-edge betting technology certainly should make its mark on the global gaming industry in the coming years.”