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Elys Game Technology Bets Big on U.S. Market with Third Location

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Elys Game Technology Corp. is a growing sports betting and iGaming platform globally in regulated B2B and B2C markets. In particular, the online gaming platform has achieved success in the robust Italian market in part by bringing sports betting to small business venues, and it is now aggressively expanding across North America and setting up new trends in the evolving U.S. sports betting landscape.

The small business sportsbook model could provide Elys with the leverage to be a significant challenger to more established players like DraftKings, FanDuel, and BetMGM.

Whenever a new company enters a market, it’s important for investors to look at its competitive advantages. These advantages are what will attract customers and help the company win market share away from its competitors. In Elys’ case, it has two key advantages.

Advantage 1: Small Business Sportsbooks

Elys Game Technology offers a convenient way for small businesses to offer cost-effective sports gambling to their most loyal customers.

This model has already proved successful at Elys’ first U.S. location – Grand Central Sportsbook in Washington D.C. The 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 D.C.

While major companies like DraftKings and FanDuel are spending hundreds of millions to dominate the national conversion, Elys is winning customer loyalty by going local.

Advantage 2: The “Best Odds” Model

Elys Game Technology has also won favor among bettors due to its unique “best odds” approach. The “best odds” 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 is another example of how Elys is going against the grain of the industry.

Most major players in the industry have won market share by spending millions on marketing campaigns and offering steep customer promotions. But, while promos might drive short-term signups, they do not always lead to long-term customer loyalty.

If Elys Game Technology’s “best odds” model proves to offer a better customer experience, then it could help the company dethrone larger competitors as America’s preferred sports betting platform.

Sports Betting in the US

In 2018, the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA). This paved the way for each state to determine its own sports betting laws. Since then, legal sports betting has taken off in the US.

30 states have already legalized sports betting in some capacity. Revenue from legalized online sports betting is projected to hit $7.62 billion this year, according to Statista.

By 2027, this market is expected to reach $31.09 billion, growing at a compounded annual growth rate (CAGR) of 12.89% over 2023-2027.

Statista estimates that just under 50 million Americans will participate in sports gambling by 2027, roughly 19% of the adult population.

To understand the popularity of sports betting in the US, investors should look no further than the success of the National Football League (NFL). The NFL Championship – the Super Bowl – routinely draws in around 100 million viewers. And, of the 50 most valuable sports franchises in the world, 30 are NFL teams.

Sports betting will likely continue to grow in America, thanks in large part to the popularity of the NFL. As sports betting becomes more mainstream, providers like Elys, with their extensive experience in the industry, appear well positioned to join in the success.

Elys Game Technology U.S. Expansion Plans

Elys Game Technology recently announced plans to expand its footprint in Washington D.C. by adding a third location on H Street. This new location will build on the success of Elys’ other two D.C. locations: Grand Central Sportsbook and the Cloakroom Gentlemen’s Club Over Under Sportsbook Lounge.

Elys plans to use this D.C. base to expand sequentially into the following states:

New Jersey

Louisiana

Kentucky

Colorado

Indiana

Illinois

Michigan

Once it has established a foothold in local bars/restaurants, Elys will have plenty of room to expand its offering outside of just sports betting. This 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.

Compliance Updates

NJDGE Closes its Investigation of Evolution AB with No Further Action

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Evolution AB has been informed by the New Jersey Division of Gaming Enforcement (NJDGE) that it has conducted an investigation into allegations of misconduct by Evolution AB and that its investigation has been closed with no further action taken.

In November 2021 the NJDGE received a report prepared by an unidentified firm alleging misconduct by Evolution AB. Following receipt of the report, the NJDGE commenced a thorough investigation into the allegations to determine their validity.

The NJDGE found no evidence that Evolution sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction.

Evolution also conducted an internal review, while concluding that its due diligence and compliance processes were sufficient, Evolution took the opportunity to enhance its processes. The NJDGE supports the enhancements that Evolution has made. The enhancements did not relate to any jurisdictional violations.

The NJDGE’s investigation into this matter is closed requiring no further action.

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Gen.G and University of Kentucky Bring Back Award Winning Conference “Campus Takeover” Designed to Drive the Future of Collegiate Esports

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Global esports and gaming organization Gen.G and the University of Kentucky (UK) are bringing back their award winning collegiate esports industry conference, Campus Takeover, on March 30 and April 6. This two-day event will bring together esports professionals with students and administrators from different universities. UK continues to pave the way as an esports ecosystem leader in the SEC and Midwest region.

Campus Takeover Day 1 is a student-focused event leading up to the professional conference, and will be live-streamed at twitch.tv/universityofky on March 30 starting at 4:30 PM EST. Campus Takeover Day 2, the flagship professional conference, will be hosted at the Don & Cathy Jacobs Science Building on the University of Kentucky campus on April 6, starting at 10:00 AM EST.

“Since we started this event, we had a responsibility to uphold what future students expect of the University of Kentucky when it comes to their budding esports careers. There’s a lot expected about the future of gaming and esports, and we want to make sure our students are well equipped to be that expected change for years to come,” Heath Price, Associate Chief Information Officer at University of Kentucky, said.

Additionally, many esports professionals hailing from different segments of esports business will participate in various panels during Campus Takeover. The panels and discussions will cover a bevy of topics, including how to maximize your time when looking for new jobs, a conversation around esports, influencers, business, and video games, a look at intersectionality in games, and much more. Other clubs and programs will also be welcome to have tables within the Atrium during Campus Takeover, so even newer students get to see everything UK has to offer.

“University of Kentucky has been our long term collegiate partner; their investment in this community allows us to have a small hand in making sure the future of gaming and esports is secure. We all want to see this industry thrive, and we hope Campus Takeover is a stepping stone for other schools to form their own ways to develop the collegiate esports ecosystem,” Martin Kim, Chief Revenue Officer at Gen.G, said.

Campus Takeover was recognized at the 2023 Esports & Gaming Business Summit Tempest Awards, where it won the award for the Collegiate Esports Program of the Year.

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Latest News

SCCG Spotlights Client Partner SlotZombie on the Verge of Hitting 10,000 Users, Showcasing SCCG’s Strategic Support and Expertise

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SCCG Management, a leading advisory firm in the gaming industry, spotlighted its successful partnership with SlotZombie as the platform nears a significant milestone of 10,000 users. SlotZombie, known for its innovative crowdsourcing platform, is changing the game in how casino visitors engage with slot machines, offering a dynamic voting and loyalty program, a comprehensive casino marketplace, and precision geotargeted advertising.

Under this partnership, SCCG Management has been instrumental in accelerating SlotZombie’s growth, facilitating its expansion across the US and into global markets. By leveraging SCCG’s extensive network and deep industry expertise, SlotZombie has been seamlessly integrated into the gaming ecosystem, connecting with key strategic partners and reshaping the casino experience for players everywhere.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Watching SlotZombie approach the 10,000-user mark is a testament to the innovative vision and hard work behind this platform. At SCCG, we are committed to championing disruptive technologies that elevate the gaming experience. SlotZombie’s success is a clear indication that the gaming community is ready for new ways to engage with casinos and each other. We’re proud to support SlotZombie’s journey and look forward to seeing its continued impact on the industry.”

SlotZombie’s mobile geolocation technology has revolutionized how players interact with casinos, allowing them to vote in real-time on-site at any casino to earn rewards. This unique approach not only enhances the player experience but also offers casinos a sophisticated tool to attract and retain visitors with targeted promotions and offers.

As SlotZombie continues to grow and evolve, SCCG Management remains dedicated to supporting its expansion and innovation, ensuring that both players and casinos benefit from the cutting-edge opportunities it presents. This partnership underscores SCCG’s role in fostering groundbreaking solutions within the gaming sector, further solidifying its position as a leader in the industry.

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