ELRA to expand into Forex market?
I just found this from other day. Sent an email in to company to see if we can get an update on this. With what is going on in the world now Forex trading is big!
Elray Gaming (OTC:ELRA) to Expand into the Forex Trading Market
Last Updated: September 15, 2011 - 8:45am EST
(NEW YORK) --Elray Gaming, Inc, which is traded under the name Elray Resources, Inc (OTC:ELRA) is currently in process of expanding its online gaming business into the active world of Forex currency trading.
Elray Gaming, a pure play online gambling turn-key stock, announced it will be expanding its online gaming portfolio to now cover online Forex trading under its international footprint. In addition to its online casinos, and poker websites, Elray Gaming will expand its operations into currency trading, which trades around $4 trillion each day world-wide.
As currencies fluctuate wildly on news out of Europe, US, and Japan, traders are finding big gains trading through the Forex market, and Elray Gaming will explore how to harvest this growing market. Areas to be explored are online Forex trading, turn-key platform solutions, and managed Forex accounts for institutional investors.
The Company is expected to provide greater detail of their new expansion into Forex and other gaming divisions, like fantasy sports, mobile apps for sport fans, and social networking opportunities in the coming weeks.
International Operations
With new regulations in the US Forex market, the Company will explore launching its new Forex division for non-US players. Forex is a global operation, and Elray will look to leverage its current international operations to expand its business into the currency trading market, even if missing out on US customers in the beginning.
US Online Poker Bill
With the US 'Super Committee' set to begin meeting this week, the prospects of a possible bill to legalize online poker has increased. By legalizing and regulating online poker the committee would be able to use those additional tax revenues for their planned budget cuts, and tax revenue generation. Since online poker would be a new industry, the Republicans would still be able to say they have stuck to their plan to not to raise taxes, as this would be the creation and tax of a whole new industry. This could position Elray Gaming well with their now offline Nuts Poker (www.nutspoker.com) as it awaits clarity of US gaming laws, which could be expected sometime by the end of this current year.
About Elray Gaming
Elray is an established Global Online Gaming entity which owns and licenses Gaming Intellectual Property, Gaming Domains, Trademarks and Player Databases. Operations are headquartered in Curacao, Netherland Antilles and maintain offices, representatives and support facilities in the United States, United Kingdom, Australia, South Africa, Mauritius, Israel and the Philippines. Elray's business model is to offer Internet Gaming Products to non-US players in jurisdictions where online gaming is permitted. www.elraygaming.com
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