Gambling in the USA
Elys Game Technology and Cloakbook DC Granted License to Open Sportsbook in Washington, D.C.
Elys Game Technology, Corp. (“Elys” or the “Company”) (Nasdaq: ELYS)(BER:3UW), an interactive gaming and sports betting technology company, and the Cloakbook, LLC (“Cloakbook”) a D.C. Certified Business Entity (“CBE”) joint venture established by the Company and the Cloakroom Gentlemen’s Club DC (“Cloakroom”) an independently owned business situated at 476 K St NW, in Washington, D.C., today announced the grant by the District of Columbia’s Office of Lottery and Gaming (“DCOLG”) of a Standard Class B Joint Venture Sports Wagering Operator License to commence sportsbook operations. A soft launch is expected ahead of the busy New Year’s Eve sports weekend with first wagers planned at the Cloakroom and Over Under Sportsbook Rooftop Lounge (“Over Under”) at 4:00 P.M. (EST) on Thursday, December 29, 2022.
“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.,” stated Michele Ciavarella, Executive Chairman of Elys Game Technology. “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. This retail distribution model offers an alternative to mobile betting that has not commonly existed in the United States other than very limited access in a few grandfathered states prior to the repeal of PASPA in 2018. We are very grateful for the patience and determination of our partners at Cloakbook and the detailed oversight of the Department of Small and Local Business Development (“DSLDB”) and DCOLG, and along with our experiences at Grand Central Restaurant and Sportsbook (“Grand Central”) that helped us identify areas of improvement needed to maintain compliance, public safety and provide an effective end-to-end sportsbook solution for our small business partners. 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.”
“We are eagerly looking forward to commencing our sportsbook operations within the Cloakroom and all-new Over Under lounge on the rooftop above the club, and to provide a whole new experience to our patrons in D.C.”, stated Tony Cavasilios, Managing Member of Cloakbook, LLC. “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. The Elys installation and technology teams were simply outstanding and walked us through the arduous process step-by-step, helping us to navigate the challenges of setting up this comprehensive sportsbook within our business establishment and we are thrilled to provide this ancillary service for our well-established patron relationships.”
The Cloakbook establishment ushers in a new licensing framework developed through extensive cooperation and collaborative efforts of Elys, Cloakroom, the DSLDB and the DCOLG and the experiences gained through the Grand Central operation. This licensing framework, pioneered in the District of Columbia, could set a precedent model for other states and jurisdictions to replicate economic opportunities of neighborhood sportsbooks in the community. In connection with the new licensing framework with Cloakbook, and to continue the success of our first small business deployment at Grand Central in the Adams Morgan district, Elys expects to play a key role in the community business ecosystem by hosting bi-annual seminars on the process of being licensed for sports wagering, dedicating a section of the Company’s website at www.elysgame.com to list subcontracting opportunities for D.C. Certified Business Entities directly related to management of the sportsbook, communication through e-mail alerts from Elys directly to the CBE community for relevant contract opportunities related to sports wagering, participating in events that the DSLBD may host throughout the year as it relates to sports wagering, and among other ancillary services – aid local businesses by serving a mentorship role for the duration of the partnerships to provide support and training to each establishment in D.C. concerning:
- An Introduction to the Gambling Industry;
- Regulatory Controls: From Applicant to Operator;
- Anti-Money Laundering (AML);
- Sports Betting Platform Technology and Operational Model;
- Responsible Gaming: Myths, Facts, and Where to Get Help;
- Problem Gambling and Player Protection;
- Fraud and Security Awareness: Anti-Bribery and Corruption;
- Regulatory Oversight: Walkthrough and General Guidance; and
- Risk Management and Player Engagement.
The three Detroit casinos reported $101.98 million in monthly aggregate revenue (AGR) for the month of September 2024, of which $101.23 million was generated from table games and slots, and $755,519 from retail sports betting.
The September market shares were:
• MGM, 47%
• MotorCity, 31%
• Hollywood Casino at Greektown, 22%
Monthly Table Games, Slot Revenue, and Taxes
The casinos’ revenue for table games and slots for the month of September 2024 increased 1.2% when compared to the same month last year. September’s monthly revenue was 8.6% lower when compared to the previous month, August 2024. From Jan. 1 through Sept. 30, the Detroit casinos’ table games and slots revenue increased by 1.0% compared to the same period last year.
The casinos’ monthly gaming revenue results were mixed compared to September 2023:
• MGM, up 6.6% to $47.68 million
• MotorCity, up 0.5% to $31.17 million
• Hollywood Casino at Greektown, down 7.8% to $22.38 million
In September 2024, the three Detroit casinos paid $8.2 million in gaming taxes to the State of Michigan. They paid $8.1 million for the same month last year. The casinos also reported submitting $12.5 million in wagering taxes and development agreement payments to the City of Detroit in September.
Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $22.02 million in total retail sports betting handle, and total gross receipts were $771,751 for the month of September. Retail sports betting qualified adjusted gross receipts (QAGR) were down by 52.0% in September when compared to September 2023, and down by 55.4% when compared to August 2024.
September QAGR by casino was:
• MGM: $601,794
• MotorCity: $11,817
• Hollywood Casino at Greektown: $141,908
During September, the casinos paid $28,559 in gaming taxes to the state and reported submitting $34,905 in wagering taxes to the City of Detroit based on their retail sports betting revenue.
Fantasy Contests
For August 2024, fantasy contest operators reported total adjusted revenues of $613,448 and paid taxes of $51,530.
Gambling in the USA
Zula Casino Kicks Off its Spectacular 1-Year “Zula-versary” with a Month of Events and Promotions
Zula Casino launched its online social casino in the US exactly a year ago delivering more. More games. More rewards. More free-to-play entertainment through a personalized experience. Zula Casino marked its one-year launch by crossing the 1000 casino-game threshold – a milestone that positions it among the top platforms nationwide.
The month-long birthday bash intends to go over the top to give back to its amazing player community that helped make this first year so incredible. With its advent calendar format, players can unlock a special surprise each day ranging from a “Win-a-Vacation” event, a carnival event, free spins and new exclusive games, and a prize pool of over 25 billion Gold Coins (GC) plus 150,000 Sweeps Coins (SC) to be given out throughout the month. Over this period, Zula Casino will run other special events, including surprise happy hours with special coupons, various social media contests, and special giveaways.
“We’re incredibly proud of the player experience we’ve built over the last 12 months. The platform has garnered a substantial and loyal pool of players, and it’s not just because we offer one of the largest game selections from leading global providers, but also the exclusive experiences we’re providing, and the platform’s continued evolution with enhanced promotions, personalization, and seamless user experience,” said Tamar Laypan, Program Manager of Zula Casino.
Zula Casino has added over 1000 games across all categories over the past 12 months, including slots, jackpots, fish, table, plinko, megaways, crash, hold and win, tumble games, and more. These additions include top games like Big Bass Vegas and Fire Stampede, as well as branded exclusives like Gold Gold Gold 5000, supplied by Booming Games, and Sweet Bonanza 1000 by Pragmatic Play. With recent additions, Zula Casino now boasts 25 game providers, including Relax Gaming, Habanero, Evoplay, Pragmatic Play, RubyPlay, Gamzix, Let Us Entertain You Inc., to name a few.
Zula Casino flourished in a tough and highly competitive market, launching its proprietary-integrated platform in September of last year. With an average TrustPilot score of 4.6 and almost 9K reviews, the online social casino is among the highest-rated free-to-play sites in the market.
Zula Casino was also previously shortlisted for the prestigious Global SBC Awards in the category of “Rising Star in Casino”.
NCPG has announced the appointment of Diana Goode to the National Council on Problem Gambling’s Board of Directors. Diana, who has served as the Executive Director of the Connecticut Council on Problem Gambling (CCPG) since May 2018, brings over 25 years of nonprofit leadership experience to this role.
In her time with CCPG, Diana has championed initiatives that address problem gambling and promote responsible gaming across Connecticut. Additionally, she has played an active role on the NCPG Affiliates Committee, contributing valuable insights from her years of experience.
Before joining CCPG, Diana held executive roles in nonprofits focusing on poverty alleviation and financial literacy in Connecticut. Her academic credentials include a degree from Dartmouth College and an MBA in Finance and Marketing from the University of Connecticut. She resides in the Greater Hartford area, where she remains deeply engaged in her community.
Diana will serve an interim appointment in the Affiliates seat on the NCPG Board of Directors until Spring 2025.
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