Newgioco Group, a sports betting technology company, has completed the establishment of Elys Gameboard Technologies LLC, a wholly-owned subsidiary to expand its sports betting operations in the US.
The company is pursuing the first sports betting licence in Washington DC and plans to launch the new US sports betting site in the historic Capitol Hill area of Washington DC by the third quarter of 2020 with its first U.S. operator customer, Handle 19 Inc.
Newgioco said in a statement that it is currently coding its US certification Elys betting platform, and will provide investors with timely updates as this key development progresses.
Newgioco Group CEO Michele Ciavarella said: “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.”