Elys Game Technology, a prominent sports betting supplier, has forged a strategic joint venture with Cloakbook to establish a sportsbook in Washington DC. The collaboration has received official recognition and approval from the District of Columbia’s Office of Lottery and Gaming (DCOLG), obtaining a standard class B joint venture sports wagering operator license.
Empowering Local Communities:
Michele Ciavarella, Executive Chairman of Elys Game Technology, expressed enthusiasm about the joint venture’s significance. He highlighted that the partnership with Cloakbook will enable the launch of sports wagering services within the Cloakroom Gentlemen’s Club and the Over Under rooftop lounge. This marks the establishment of Elys’ second small business sportsbook installation in Washington DC.
Ciavarella further emphasized Elys’ belief in the potential of retail sports betting within neighborhood establishments to drive local employment and economic recovery in communities across the United States and Canada. This retail distribution model, which offers an alternative to mobile betting, has the potential to contribute positively to local economies.
Expanding the Entertainment Experience:
Tony Cavasilios, Managing Member of Cloakbook, shared his excitement about the upcoming sportsbook operations. He conveyed anticipation for launching sports wagering services within the Cloakroom and the newly introduced Over Under lounge on the club’s rooftop. This innovative venture aims to provide patrons in Washington DC with a fresh and engaging experience.
Cavasilios emphasized the additional value created by this collaboration, highlighting the creation of 15 new jobs in the city. He detailed how patrons can enjoy an immersive evening, including dining and beverages in the Over Under lounge, while simultaneously placing wagers on their favorite sports teams. The venture seeks to offer a comprehensive entertainment experience, combining sports excitement with a celebratory atmosphere at the award-winning Cloakroom Gentlemen’s Club.
New Horizons in Sports Betting:
Elys Game Technology’s partnership with Cloakbook represents a pioneering approach to sports betting, particularly within local neighborhoods. The official grant from the District of Columbia’s Office of Lottery and Gaming underscores the commitment to responsible and regulated sports wagering in the region. By introducing a unique entertainment blend of sports betting, dining, and celebration, the joint venture aims to enrich the entertainment landscape of Washington DC.
The collaboration between Elys Game Technology and Cloakbook symbolizes a strategic step towards revitalizing entertainment options within Washington DC. By establishing a sportsbook within established neighborhood venues, the joint venture aims to provide not only an engaging sports wagering experience but also contribute to local job creation and economic development. As the partnership unfolds, it stands as a testament to innovation in the gaming industry and a commitment to enhancing the overall entertainment ecosystem in the nation’s capital.