Under the deal, Elys will operate multiple sportsbooks across Ohio, with its USBookmaking subsidiary to provide sport wagering services to manage the sportsbook risk and provide bookmaking services.
Should the Ohio Casino Control Commission issue the relevant licence to Elys and Wright Bet, the partnership could offer up to 12 sportsbook locations throughout the state.
“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 (Wright Bet co-founder) and the entire team at Wright Bet,” Elys executive chairman Michele Ciavarella said.
“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.”
Elys said that the roll-out would be similar to its setup in Washington DC, whereby non-conventional gaming venues such as bars and restaurants could acquire licenses to offer a turnkey sportsbook to patrons within their 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,” Morar added.
“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.”
The deal comes after Elys last week posted an increased loss of $15.1m (£11.9m/€14.1m) for 2021, despite a 22.0% rise in revenue.
Original article: https://igamingbusiness.com/elys-to-expand-into-ohio-with-wright-bet-sportsbook-deal/
