New Jersey: Elys submits betting platform for certification ahead of launch with Ocean Casino

Gaming and sports betting technology company Elys Game Technology has submitted its betting platform for certification in New Jersey ahead of planned deployment in the state, the business announced on Wednesday.

In addition to submitting its US Gameboard sports betting platform to the New Jersey Division of Gaming Enforcement, the company has also applied for a Transactional Waiver which, once approved, would permit the business to begin installation procedures in the state.

The procedures and the Transactional Waiver are vital steps towards the official launch in New Jersey with partner Ocean Casino Resort, remarks the company. A deal was struck last year through wholly-owned subsidiary US Bookmaking with the gambling venue.

$Elys submits betting platform for New Jersey certification https://t.co/9eNqyByJn8 pic.twitter.com/Jtx6eLuvqz

— Elys Game Technology (@ELYS_Gaming) January 26, 2022

“We are continuing to put full measures in place towards our launch with Ocean Casino Resort located in the heart of Atlantic City, and submission of our platform for certification to the New Jersey Division of Gaming Enforcement is a key milestone in achieving this objective,” said Michele Ciavarella, Executive Chairman of Elys Game Technology.

The Executive Chairman further describes the company’s anticipated entry into New Jersey as building on Elys’ “multi-pronged revenue strategy” of expansion in the traditional casino business, development of the small business sportsbook market, and growth of the mobile iGaming market. 

Ocean Casino Resort first unveiled its partnership with Elys in November. Under the agreement, USBookmaking is set to provide the casino trading management services and retail solutions, according to a press release.

“We are excited to partner with USBookmaking to capitalize on their expertise, offering a best-in-class experience,” said Bill Callahan, Interim Chief Executive Officer for Ocean Casino Resort at the time. “The addition of a renowned organization such as USBookmaking should only serve to bolster our land-based wagering product.”

Earlier this month, Ocean Casino Resort provided details of its upcoming $4 million entertainment venue, which is set to include sports betting provided by Elys. The new facility is expected to debut “by summer.”

Construction on the new space, which will also feature a bar, lounge, and gaming offerings is expected to start in March. During construction, there will be one betting window and one kiosk available for sports wagering.

Further information on the brand-new concept, including the name, timeline and design details, will be released “later in 2022.” This project is part of the previously announced resort reinvestment of more than $75 million over this year, which also included 460 new guest rooms and suites.

$Elys This agreement will allow Lottomatica to accelerate its plans for North America by leveraging on Elys’ deep knowhow and strong technology in this segment, Giuseppe Portoricco, Lottomatica SVPN. We are excited to collaborate with Elys on these developments. pic.twitter.com/05rndni48R

— Elys Game Technology (@ELYS_Gaming) January 25, 2022

Meanwhile, Elys announced earlier this week that the company has entered a binding term sheet with Lottomatica S.p.A. for the development of a customized sportsbook platform with a focus on North America.

Elys will contribute a commercial partition of its betting technology to integrate within the Lottomatica environment, and will also assure the functional operation of the product through dedicated engineering and technical service teams.

Moreover, the company is set to earn “tiered license fees” from the operation of the product, explains a press statement. In addition, subject to regulatory approvals where applicable, the parties “may also collaborate on additional growth initiatives.”