{"id":300728,"date":"2023-11-28T11:27:35","date_gmt":"2023-11-28T17:27:35","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=300728"},"modified":"2023-11-29T21:52:57","modified_gmt":"2023-11-30T03:52:57","slug":"elys-game-technology-details-us-expansion-efforts","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/","title":{"rendered":"Elys Game Technology Rallies on DC, US Expansion Plans"},"content":{"rendered":"

Shares of Elys Game Technology (OTC PINK: ELYS), a gaming technology provider, rallied Tuesday after the company said it will add a third retail sportsbook in Washington, DC, adding that it plans to expand into several states.<\/p>\n

\"Elys
The Elys Game Technology logo. The company unveiled large-scale US expansion plans. (Image: Business Wire)<\/figcaption><\/figure>\n

The company provides sports betting kiosks<\/a> to businesses such as bars and restaurants that hold permits to offer sports wagering to customers. Currently, Elys provides sports wagering services at the Grand Central Sportsbook and the Cloakroom Gentlemen’s Club Over Under Sportsbook Lounge. The company\u2019s third location in the US capital city will be on H Street.<\/p>\n

This model has already proved successful at Elys’ first U.S. location — Grand Central Sportsbook in Washington DC,\u201d according to a statement. \u201cThe company reports that the location has been a significant revenue driver for the company, averaging $67,500 per month in Gross Gaming Revenue (GGR) for the operator, which is approximately 700% above initial expectations. Its success has also encouraged Elys to open two more locations in DC.\u201d<\/p><\/blockquote>\n

Shares of Elys, which were recently delisted by Nasdaq<\/a>, were higher by 5.15% in midday trading on the news.<\/p>\n

Elys Focusing on Odds, Local Approach<\/h2>\n

The current state of the US sports betting landscape is dominated by DraftKings (NASDAQ: DKNG) and FanDuel, operators with the financial resources to rapidly amass scale.<\/p>\n

\n

That\u2019s hard to compete with for smaller companies such as Elys. Still, the gaming firm believes it can win its market share by focusing on simple principles, including a local emphasis that encourages customer loyalty and attractive wagering odds.<\/p>\n<\/div>\n

\u201cThe \u2018best odds\u2019 model is an odds-making strategy aimed at attracting and retaining clients by providing the most competitive odds on various sporting events. This approach prioritizes long-term customer loyalty over short-term market share growth. It’s another example of how Elys is going against the grain of the industry,\u201d added the operator in the statement.<\/p>\n

That\u2019s somewhat similar to the low-hold model<\/a> other sportsbook operators employ that caters to sharp bettors.<\/p>\n

Elys Expansion Plans<\/h2>\n

Citing the popularity of the NFL, Elys sees an opportunity as the domestic sports wagering market is poised to expand rapidly. By some estimates, by 2027, nearly 20% of the US adult population will participate in sports betting in some form, with the market poised to reach $31.09 billion. That implies a compound annual growth rate of 12.89% from 2023 through 2027.<\/p>\n

With those factors in mind, Elys is planning to expand into New Jersey, followed by Louisiana and Kentucky. After that, the company hopes to enter Colorado, Indiana, Illinois, and Michigan in that order.<\/strong><\/p>\n

\u201cOnce it has established a foothold in local bars\/restaurants, Elys will have plenty of room to expand its offering outside of just sports betting,\u201d according to Elys. \u201cThis is because it offers a full suite of omnichannel leisure gaming products and services, including online casino and slot games, poker, bingo, lottery, and more interactive gambling games.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Elys Game Technology (OTC PINK: ELYS), a gaming technology provider, rallied Tuesday after the company said it will add a third retail sportsbook in Washington, DC, adding that it plans to expand into several states. The company provides sports betting kiosks to businesses such as bars and restaurants that hold permits to offer […]<\/p>\n","protected":false},"author":46,"featured_media":300729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,86432,86430,86438,1074],"tags":[81903,86697,86455,86457,80968],"acf":[],"yoast_head":"\nElys Game Technology Details US Expansion Efforts<\/title>\n<meta name=\"description\" content=\"Elys Game Technology unveils big expansion plans for US markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elys Game Technology Details US Expansion Efforts\" \/>\n<meta property=\"og:description\" content=\"Elys Game Technology unveils big expansion plans for US markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-28T17:27:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-30T03:52:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EGT.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/\",\"url\":\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/\",\"name\":\"Elys Game Technology Details US Expansion Efforts\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EGT.jpg\",\"datePublished\":\"2023-11-28T17:27:35+00:00\",\"dateModified\":\"2023-11-30T03:52:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Elys Game Technology unveils big expansion plans for US markets.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/elys-game-technology-details-us-expansion-efforts\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EGT.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EGT.jpg\",\"width\":1024,\"height\":512,\"caption\":\"The Elys Game Technology logo. 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