Newgioco Group has established a new US-facing operating subsidiary with the aim of expanding its sports betting operations throughout the country.
Elys Gameboard Technologies will run as a wholly owned subsidiary of the business, with Newgioco to code its Elys betting platform for US certification.
Newgioco is already in the process of applying for a sports betting license in Washington D.C. and, if successful this would be the supplier’s first license in the US market.
The supplier has a deal in place to launch its new US sports betting platform with Handle 19, its first US operator client, within the Capitol Hill area of Washington D.C. by the third quarter of this year.
“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,” Newgioco’s chief executive Michele Ciavarella explained.
“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.”
Last month, the DC Lottery announced the launch of its online sports wagering platform in Washington D.C. via a partnership with Intralot, with an app set to follow this month.
The state lottery has a monopoly on mobile betting, aside from exclusion zones around sporting stadiums – which can sign up their own partners – though the market will also allow smaller retailers, such as bars, to launch their own sportsbook offerings.