In order to facilitate and promote opportunities for catering establishments to participate in sports betting, Elys Game Technology has signed a memorandum of understanding with the New York State Restaurant Association. The key collaboration is expected to provide unique opportunities for these companies, increasing their revenue streams, as well as state tax revenues.
Elys Game Technology Signs Key Memorandum of Understanding with NYS Restaurant Association
Interactive gaming and sports betting technology company Elys gaming technology announced on Tuesday that it had signed a memorandum of understanding with the New York State Restaurant Association (NYSRA), the voice of the restaurant industry in the state. By working together, the duo will seek to promote and facilitate opportunities for beverage and dining venues to participate within the state’s sports betting industry.
In addition, the partnership aims to create a cornerstone and structure for future opportunities that can be captured by New York State and Restaurant Association members. NYSRA and Elys will work to “develop and establish policies and procedures to advance sports betting opportunities for catering establishments.” The collaboration should collect information regarding benefits as well as safety to offer and maintain entertaining bets in catering establishments.
Bars and restaurants need new sources of income
Melissa Fleischut, president and CEO of NYSRA, said that The Association is delighted to collaborate with Elys. She acknowledged that restaurants and bars across the state have felt the devastating impact of the COVID-19 pandemic over the past 18 months.
“The New York State Restaurant Association is excited to work with Elys Game Technology to bring sports betting to the restaurant industry here in New York.”
Melissa Fleischut, President and CEO of the NYS Restaurant Association
Fleischut pointed out that now, more than ever, these sites needed additional sources of income. In conclusion, she pointed out that Elys already has experience in bringing sports betting to restaurants and bars around the world and this has brought many benefits to these sites.
Bringing bets to bars and restaurants will increase income and taxes
Executive Chairman of Elys, Michele Ciavarella, revealed that the company is excited to be working with NYSRA. He pointed out that the collaboration could indeed bring sports betting into an exciting environment where family and friends often watch sports together.
Ciavarella did not fail to point out that Elys successfully obtained its first American sports betting license in Washington DC in collaboration with the Grand Central Restaurant and Bar. He added that the first restaurant to be licensed to offer sports betting in North America is opening scheduled for early October 2021. By using turnkey and affordable sports betting products and technologies, specially designed for the US market, Grand Central will be able to benefit from sports betting. In addition, according to Ciavarella, the site will be a “showcase for the US sports betting market in the future”.
“We are convinced that the low cost of installing our highly scalable on-premise retail and mobile platform Elys is a win-win solution for small businesses and could give a major boost to a key industry that is the core of the New York atmosphere.”
Michele Ciavarella, Executive Chairman, Elys Game Technology
Another point raised by the executive chairman of Elys is that the company has always believed that small businesses such as bars and restaurants are most suitable for performing sports betting. Ciavarella said the partnership with NYSRA presents a unique opportunity for restaurateurs and restaurateurs offer legal sports betting. He pointed out that in addition to increasing the site’s revenue, the business model will also generate significant tax revenues for New York State.