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.
Gambling in the USA
Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia
Bruce Smith Enterprise and The Cordish Companies celebrated the groundbreaking of the new LIVE! CASINO & HOTEL VIRGINIA in Petersburg. The milestone officially commences construction on a transformative project that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs, and set a new standard for gaming, hotels, and entertainment in the Commonwealth. Live! Casino & Hotel Virginia is part of a larger $1.4 billion master plan by the partnership, scheduled to be developed in phases, that will bring a world-class mixed-use resort destination to Petersburg.
Executives from Bruce Smith Enterprise, The Cordish Companies, and Cordish Gaming were joined by Petersburg City Mayor Sam Parham and members of Petersburg City Council, Virginia State Senator Lashrecse Aird, Virginia State Delegate Kim Taylor, and many other business and community leaders at the project site in Petersburg. The development site, ideally located on Brasfield Parkway at the intersection of Wagner Road and Interstate I-95 just 20 miles south of Richmond, will provide easy access on and off the East Coast’s major north-south interstate.
“It has been a source of immense satisfaction and pride to partner in this incredible development. For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination. This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families. As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come,” said Bruce Smith, founder of Bruce Smith Enterprise.
Live! Casino & Hotel Virginia is slated to open in 2027. A temporary gaming facility will open by the end of 2025 to immediately begin creating an estimated 500 new jobs, vendor opportunities and economic benefits for the City. In its first 10 years, the project is expected to generate $2.8 billion in economic stimulus to the region; $504 million in tax revenues including $240 million to the City of Petersburg; $802 million in economic benefits during construction; $201 million in annual economic benefits each year after opening; and 7500 new jobs including 6100 during construction and 1400 new permanent jobs.
“Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia. Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country. Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations. We look forward to making an immediate impact on the region with the construction of a temporary gaming facility that will be operational before the end of 2025, so that we can begin creating jobs, vendor opportunities and economic benefits for the City,” said Zed Smith, Chief Operating Officer for The Cordish Companies.
PENN Entertainment announced that its stand-alone Hollywood Casino app has launched in New Jersey. The new Hollywood Casino platform is available on Android, iOS, and desktop and can also be accessed via the ESPN BET app. Customers can login to Hollywood Casino using their ESPN BET credentials, allowing for a seamless experience across PENN’s online betting and casino platforms.
Ranked by Eilers & Krejcik as the #2 overall iCasino product in the US, Hollywood Casino offers a variety of online slots, table games, and live dealer content, including original titles from PENN Game Studios, the company’s in-house casino game development studio. Hollywood Casino also includes bespoke live dealer tables and exclusive games such as the recently launched Devils Blackjack, an original title leveraging PENN’s partnership with the New Jersey Devils.
“We’re thrilled to introduce our dedicated, casino-first experience to customers across New Jersey. Hollywood Casino delivers a best-in-class experience with an extensive game library, seamless gameplay, and exclusive content from our in-house studio. This launch builds on the strong momentum we’ve gained since introducing our enhanced standalone app in December,” said Aaron LaBerge, Chief Technology Officer of PENN Entertainment.
The stand-alone Hollywood Casino platform debuted in Pennsylvania last December and is also available in Michigan.
Gambling in the USA
Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development
Bitline, the only provider for casino chip access directly from cryptocurrency, has announced its first major collaboration in the U.S. casino market, teaming up with Choctaw Casinos & Resorts through its collaboration with Everi, a premier provider of financial technology and gaming solutions. This collaboration introduces cryptocurrency and digital assets as a new source of liquidity for casino patrons and marks the first time that such a functionality has been enabled within the American gaming industry.
Leveraging Everi’s CashClub’s comprehensive payment infrastructure, Bitline’s solution is able to efficiently board, screen and verify patrons looking to leverage their digital assets whilst also allowing patrons to move screened assets into custody within minutes. Bitline’s integration with Everi Cash Club, the leading financial access services suite for casino payments, will enable the technology for the benefit of Choctaw Casinos & Resorts, and is the first time that such a functionality has been possible in the U.S. regulated casino market.
Catering to the growing demand for greater cryptocurrency and digital asset integration within the casino industry, the collaboration between Bitline and Everi’s forms a transferable blueprint that offers casino operators and their patrons an alternative way to manage funds, access liquidity, and leverage the benefits of cryptocurrency and other digital assets.
This milestone reflects a strategic shift in how casino operators view and manage financial interactions with their guests. The introduction of cryptocurrency as a liquidity solution provides additional options for guests and lays the foundation for Choctaw Casinos & Resorts as it looks to the future of gaming sector finance, setting a new standard in financial accessibility and convenience.
“Working with Choctaw Casinos & Resorts and Everi to make this a reality is a historical moment for both the casino and blockchain industries. Bitline was conceptualized to advance the gaming sector and offer a wider variety of financial options for the casino industry,” said Richard Jones, CEO at Bitline. “We’re entering an era where digital assets can fundamentally enhance the gaming experience, providing casino operators with a future-ready financial framework that can expand and evolve as the industry does. This collaboration is just the beginning of our vision to modernize casino payment capabilities on a global scale.”
Victor Newsom, SVP Product Management, Payments Solutions at Everi comments “This unique integration combines BitLine’s additional payment accessibility options with Everi’s ability to enable seamless, secure, and regulatory compliant financial transactions for casino patrons. Designed from the ground up to exceed the rigorous compliance demands of the industry as well as the discerning expectations of gaming VIPs around the world, Choctaw’s patrons are now no longer limited to the access, times, amount, and speed constraints of the legacy financial systems. This also significantly reduces risk for our casino customers, such as Choctaw.”
“We are excited to be the first casino in North America to offer our guests another way to play,” said Thomas McDonald, Senior Director of Cage and Credit at Choctaw Casinos & Resorts. “Through our long-term relationship with Everi, a leader in fintech solutions, we will continue to invest in innovative offerings that provide the discerning gaming VIP access to funds in a safe and secure manner.”
The Choctaw Casinos & Resorts integration represents only the first phase of Bitline’s broader mission to bring cryptocurrency solutions to casinos and casino patrons worldwide. As cryptocurrency and digital assets continue to gain traction in the gaming sector, Bitline’s easy to integrate and patented payment model stands poised to become a key player in transforming gaming finance. Future plans include expanding services across other major casinos and gaming markets, both domestically and internationally, establishing cryptocurrency as a new standard feature of the gaming experience.
The solution is to be formally rolled out on March 7, 2025, with the first transaction taking place at Choctaw’s Durant, Oklahoma, location.
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