A statement from Elys Game Technology, Corp. reveals that the company is awaiting certification from the New Jersey Division of Gaming Enforcement. The gaming operator that will be involved in interactive gaming and sports betting has a betting platform ready to do business. It is this gaming site that must be assessed by the regulator before a trading license is issued.
As part of the certification process, the operator will also be hoping to be granted a transactional waiver. The waiver is an important step in the process of launching any gambling related business in the United States. With this waiver, a company is at liberty to embark on procedures that will allow it to establish a gambling presence in any market.
Going through the right channels is necessary for Elys Game Technology because of strengthening the working partnership that exists between the company and Ocean Casino Resort in Atlantic City, NJ. The US bookmarking operator is a wholly owned subsidiary of Elys.
According to the Executive Chairman of Elys Game Technology, Michele Ciavarella, the management of Elys is committed to compliance as they prepare to take the next step in growing their business. The current measures being taken now are necessary to launching a product that the players of Atlantic City will be proud to be associated with. Ocean Casino Resort is already a big brand in Atlantic City and any operator wanting to associate with it must match up to its caliber.
For a gaming operator that is planning to enter the New Jersey market at a time when other operators have already established a clientele, the challenge lies in packaging. Customers want to see and feel their presence in a way that the other operators have not been able to offer. It is highly likely that Elys will entice players to sign up through generous bonuses and offers.
The great focus for Elys Game Technology right now is the launch with Ocean Casino Resort. Given that Ocean is an operator in AC, it makes sense that submission of platform certification documents be made to the casino licensing body of NJ.
Ciavarella explains the progression path that the company has taken with their current plans to establish an operation in NJ. In uncovering new and unchartered means of growing revenue, the management of Elys has been contemplating with expanding into the mainstream casino industry. They have so far managed to tap into the sportsbook and mobile iGaming market.
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The story of Elys Game Technology, Corp
The vigor with which Elys has come knocking on the New Jersey market is proof that the company is eager to impress the seasoned casino player. As a B2B global gaming technology company, they have a presence in multiple jurisdictions around the world. As a B2C operator, the company boasts of an established provider of land-based as well as online gaming operations in Italy. If the certification process goes as anticipated, the company will have been empowered to establish an additional operation base in the United States.
Registered clients playing on Elys platform enjoy a wide range of products and services including esports, sports betting, online casino, virtual sports, bingo and interactive games such as poker. Apart from a vibrant operation in Italy that offers all these, the company has bases in 5 states around the US regulated markets.
By providing games in both the modern digital player as well as the traditional casino categories, the gaming provider is creating a platform that all players will feel accommodated. Players do not need to scheme through the games database to find out if their preferences are offered here – just hop in and marvel at all the options available.
These efforts point toward the company’s vision of building a grand reputation as a world leader in the casino industry. Elys management is approaching this end through investing in innovation that will revolutionize the gaming scene. As a technology providing company, the company is creating avenues for supporting other operators in the market by offering them with wagering solutions. Additional services offered by the company include casino technology, retail betting outlets, online betting operations and networks for franchise distribution of gaming software.
What is a Transactional Waiver?
Most service providers and gaming operators will agree that the process of applying for and undergoing all the necessary license passes as required by the New Jersey Division of Gaming Enforcement can be a lengthy and demanding process. For companies that have done their due diligence and maintained the best conditions for their business, the entire process from start to finish can last multiple years.
What does an operator do over this period that helps their industry growth efforts? To allow them time to conduct thorough operations review without chocking life out of an operator, the NJ DGE introduced the transactional waiver model. Companies are fast tracked towards successful launches but the regulator is not pressured to relax it requirements for issuing a license.
When you receive a transactional waiver from the DGE, it means that you have been temporarily allowed to run your gambling operations in New Jersey after having satisfactorily met certain conditions. When granting the transactional waiver, the DGE will notify you in writing that the grant is subject to a preliminary investigation.
To demonstrate how transactional waivers work is the licensing of Central Account Management System (CAMS). The company, which is in the business of supplying, checks, financial processing and geolocation compliance services to gaming operators in NJ, received its full operating license in 2015, which is close to two years after the transactional waiver was granted. The fact that CAMS is a service provider ad not a gaming operator means that the waiting period increases depending on the level of interaction with customers.
Conclusion
The rate at which new betting operators are setting up shop in New Jersey is an indication of a promising market. The field is currently open to players from various parts of the world provided they follow the proper channels.
