Elys Game Technology Corp and New York State Restaurant Association (NYSRA) announced the entry into a Memorandum of Understanding (MoU) that expresses a joint interest in promoting and facilitating opportunities for food and beverage establishments to participate in the State’s sports betting industry.

The purpose and scope of the MoU is to create a partnership that provides the cornerstone and structure for any and all future opportunities that benefit members of the restaurant association and the State of New York. Elys and NYSRA will endeavor to work together to develop and establish policies and procedures to advance sports wagering-related opportunities for food and beverage establishments. The joint efforts are expected to include, but are not limited to, collective advocacy on the benefits and security of offering leisure betting entertainment within small business venues, and intent to maintain a product and/or service that meets or exceeds all business and industry standards.

Michele Ciavarella, Executive Chairman of Elys Game Technology, said: “We are delighted to work with the NYSRA to advance a strong, coordinated effort that could effectively permit restaurant industry operators to offer sports betting in a vibrant and exciting environment where friends and family often gather to watch and enjoy a wide range of sports events. Together with our partner Grand Central Restaurant and Bar, Elys has successfully obtained the first Class B and Management Service Provider licenses in Washington D.C. We expect to open at Grand Central in early October 2021 and believe that this will be the first restaurant to be licensed to offer sports betting in North America and a showcase for the U.S. sports betting market in the future. Elys will provide affordable, turn-key sports betting technology and products to Grand Central utilizing our sophisticated, highly scalable and customizable software developed specifically for the US market. We have always stated that small businesses like restaurants and bars are the most suited venues to offer sports betting and our technology makes the most practical economic sense. This sound business proposition could allow restaurant owners to attract customers to their establishments and retain their loyalty through the generous number of sports events and promotional opportunities around them.”

“Our long-standing experience with this business model in Italy, our first-mover efforts in Washington D.C., and our partnership with the NYSRA are aimed at getting restaurant and bar owners the opportunity to offer legal sports betting in their establishments and to quickly become operational. Additionally, this model could drive a potential ancillary revenue center alongside food and beverages for their businesses, as well as generating significant tax resources for the State of New York and other states across the nation going forward. We strongly believe that the low setup cost of our highly scalable Elys retail and mobile on-premise platform is a win-win for small businesses and could lend a major boost to a key industry that makes up the core of the New York vibe,” Ciavarella added.

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“The New York State Restaurant Association is excited to be working with Elys Game Technology to bring sports betting to the restaurant industry here in New York. Our bars and restaurants have been devastated over the last 18 months and are in desperate need of additional revenue streams. Elys Game Technology is experienced in bringing premier sports betting to bars and restaurants all around the world and has shown how beneficial this can be to the bottom line of many,” Melissa Fleischut, President and CEO of New York State Restaurant Association, said.