In a significant development for the world of sports betting, Elys Game Technology has announced its conditional approval for a Type C sports gaming proprietor license from the Ohio Casino Control Commission. The five-year approval period commences on January 1, ushering in a new era of mobile sports betting in the state.
Elys Game Technology’s Strategic Advancements
Elys Game Technology’s achievement of securing a conditional approval for a Type C sports gaming proprietor license in Ohio marks a pivotal moment for the company and the sports betting landscape at large. This conditional approval sets the stage for the launch of mobile sports betting on the first day of the new year. However, this achievement is merely the first step towards fully realizing the potential of online sports betting in Ohio.
To bring online sports betting to fruition, Elys will need to meet further prerequisites, including obtaining essential certifications and fulfilling license fees. The company is dedicated to adapting its technology platform to align with the specifications outlined by the Ohio Lottery, demonstrating its commitment to compliance and seamless integration within the state’s regulatory framework.
Strategic Partnerships for Market Penetration
Collaboration is key in the rapidly evolving world of sports betting, and Elys Game Technology understands this well. Through its partnership with Wright Bet, Elys has successfully enlisted over 100 host locations for its land-based sportsbook services in Ohio. This strategic move not only expands Elys’ footprint in the region but also lays a strong foundation for its online sports betting platform.
Furthermore, Elys has recently entered into an exciting partnership with Bookmakers, a move that could further cement its position in the market. This collaboration aims to bring sportsbook services to the Top Hat Sports Bar & Grill in Parkville, Maryland. Pending final regulatory approval from the Maryland Lottery and Gaming Control Commission, Elys stands to gain a percentage of the revenue generated from sports betting activities at this establishment.
Ohio’s Gambling Revenue Landscape
The success story of Elys Game Technology unfolds against the backdrop of Ohio’s dynamic gambling revenue landscape. According to the Ohio Casino Control Commission, the state’s casinos and racinos achieved a noteworthy $192 million in gambling revenue in October. This figure represents a 1.8% increase compared to the previous month’s revenue of $188.6 million. While slightly lower than the $192.7 million reported in October 2021, this consistency highlights the resilience of the industry.
Ohio’s four casinos contributed significantly to this revenue surge. With a gain of $2.1 million compared to the previous year and a staggering $15 million compared to 2019, pre-pandemic levels, these establishments underscore the industry’s potential for growth. Hollywood Columbus emerged as the leader with $23.7 million in revenue, closely followed by Jack Cleveland Casino with $21.2 million. Hard Rock Casino Cincinnati and Hollywood Toledo reported $20 million and $18 million, respectively.
Elys Game Technology’s conditional approval for a Type C sports gaming proprietor license in Ohio opens the door to a new era of mobile sports betting in the state. While the company’s strategic partnerships and technological adaptations demonstrate its commitment to the market, the broader context of Ohio’s gambling revenue showcases the industry’s resilience and potential. As January 1 approaches, all eyes are on Elys and its journey toward transforming Ohio’s sports betting landscape.