Interactive gaming and sports betting technology company Elys Game Technology announced that it has been granted a Standard Class B joint Venture Sports Wagering Operator License in tandem with Cloakbook to commence sportsbook operations in Washington, D.C.

Cloakbook is a joint venture established by Elys and the Cloakroom Gentlemen’s Club DC, an independently owned business situated at 476 K St NW, in Washington, D.C. A soft launch took place on Thursday, December 29, at the Over Under Sportsbook Rooftop Lounge, where the first bets were placed.

Michele Ciavarella, Executive Chairman of Elys Game Technology, stated: “We are delighted to have been granted the first joint venture license with our partners at Cloakbook to commence sports wagering services within the Cloakroom Gentlemen’s Club and the Over Under rooftop lounge, our second small business sportsbook installation in Washington D.C.”

“Elys firmly believes that this segment of retail sports betting within neighborhood establishments could become a key driver for local employment and economic recovery at the community level throughout the United States and Canada,” the executive noted. 

He also expressed his gratitude towards the company’s partners at Cloakbook, “and the detailed oversight of the Department of Small and Local Business Development and DCOLG.”

“We look forward to scaling our U.S. expansion through ongoing collaborations with these partnerships to foster the viable and long-lasting economic advancement of the small and local business community,” Ciavarella concluded.

Cloakbook’s Managing Member Tony Cavasilios added: “This new venture has given us the opportunity to create 15 new jobs in D.C. and offer customers a chance to parlay an evening of enjoying a meal and beverage in the Over Under lounge while wagering on their favorite team, and to top it off with a celebration within the award-winning Cloakroom Gentlemen’s Club.”

“After a long process that started for us almost two years ago, we have gained a deep respect for the compliance framework of installing the sportsbook and the importance of working closely with regulators to provide not only a great product but also a safe environment for our customers to play their wagers,” he added. 

Back in October, Elys entered into a new agreement to expand its current partnership with Grand Central Restaurant and Sportsbook in Washington D.C. Under the terms of this new deal, the two parties will establish a new joint venture to open a second sportsbook location in DC.  Grand Central, in partnership with Elys, became the first D.C. restaurant to launch sports betting in October 2020.

Back in July, in an exclusive interview with Yogonet, Ciavarella explained: “With the innovative Elys “Build-a-Bet” platform, these locations will be able to offer unique and entertaining experiences for bettors, and essentially differentiate themselves from each other by giving patrons an opportunity to enjoy a meal or beverage while watching their favorite sports events within a vibrant environment.”

“It’s clear that Ely’s successful small business sportsbook installation at Grand Central Restaurant and Sportsbook has created considerable interest in this segment, not only in D.C., but also in nearby states,” he said at the time. “We feel that the Class B sports betting segment is very much in its early stages for all markets across North America. These partnerships could potentially provide small businesses additional ancillary revenue from sports betting along with core business sales which can combine to drive economic growth at the grassroots level.”

Original article: https://www.yogonet.com/international/news/2023/01/02/65547-elys-expands-small-businesses-sportsbook-model-in-dc-with-launch-at-cloakroom-gentlemens-club

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