Elys Game Technology, a prominent sports betting supplier, has revealed plans to inaugurate the Grand Central Sportsbook on H Street, specifically at 625D H Street NE. This exciting new addition to the sports betting landscape in Washington, D.C., is anticipated to open its doors in the fourth quarter of 2023, pending final approval by the DC Office of Lottery and Gaming (DCOLG).
Grand Central Sportsbook will join the ranks of the Grand Central Restaurant and Sportsbook, as well as the Cloakroom Gentlemen’s Club Over Under Sportsbook Lounge, enhancing the diverse offerings in the nation’s capital.
Advancing the Small Business Model
Michele Ciavarella, the Executive Chairman of Elys Game Technology, emphasized the compelling opportunity presented by the small business model. This model aims to provide customers with convenient access to betting on their favorite sports while enjoying a night out at their local social establishment. The company is optimistic about industry trends in the United States, and as more states adopt this model, they anticipate expanding their customer base rapidly with minimal upfront costs.
Innovative Online Sportsbook Platform
Earlier this year, Elys Game Technology announced the launch of its online sportsbook platform designed for the US and Canadian markets. This cutting-edge platform offers mobile apps built on a GLI-33-certified foundation, featuring customization tools and robust cybersecurity measures.
A Closer Look at Washington, D.C.’s Sports Betting Performance
In July, Washington, D.C.’s sports betting handle amounted to $7.7 million. This figure reflects a 31.9% decrease compared to July 2022 and a 31.3% decline from June 2023, when the handle stood at $11.2 million. In the same period, gross gaming revenue reached $1.4 million, marking a 16.7% year-on-year increase and a significant 188.3% surge from June’s revenue of $484,672.
Gambet, operated by the DC Lottery and powered by Intralot, reported earnings of $486,970 from a handle of $3.1 million.
Caesars Entertainment recorded $435,049 in revenue from a handle of $2.7 million.
BetMGM generated $318,222 in revenue from a handle of $1.2 million.
Grand Central Bar, in partnership with Elys Game Technology, reported $137,458 in revenue from a handle of $329,694.
FanDuel, which operates a retail sportsbook at Audi Field, earned $17,790 in revenue from a handle of $327,304.
Cloakbook achieved $627 in revenue from a handle of $11,272.
The launch of Grand Central Sportsbook adds to the diversity of offerings in the vibrant sports betting landscape in Washington, D.C., with Elys Game Technology spearheading this exciting venture.