Sports betting technology firm Newgioco Group has completed the formation of Elys Gameboard Technologies LLC, a wholly owned subsidiary for the purpose of expanding its US sports betting operations.
The company is in the process of seeking its first sports betting license in Washington DC and anticipates launching its new US sports betting platform with its first US operator client, Handle 19 Inc, in the historic Capitol Hill area of Washington DC by the third quarter of 2020.
In a statement, Newgioco said it is currently coding its Elys betting platform for US certification and will provide investors with timely updates as this key development progresses.
CEO Michele Ciavarella stated: “As part of a long-term global expansion plan, Newgioco takes in a prudent and strategic approach for launching in new markets and we are executing our plan to enter into the US market in the same manner.
“Our 20-plus years of regulated sports betting experience has taught us that long-term success in the US market means thorough planning and preparation before taking steps to deploy a product that will work properly in this market. We are thrilled with the progress of the Elys US development program and look forward to launching our platform in the very near future.”