![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Saturday, August 09, 2014 11:44:35 AM
The U.S.-listed company said in a press release “it has begun generating considerable gaming activity in a licensed live dealer casino facility located in Manila as a result of its joint venture”. The statement did not disclose where the facility is located.
Elray added that the joint venture has resulted in “gaming revenues (wagering)” of more than US$68 million in a 45-day period. The firm did not provide a definition of the term.
“Whilst Elray only receives a small percentage of the net win that is generated within the licensed casino facility, the magnitude of wagering generated in such a short period of time is very encouraging and will now pave the way for Elray to enter into further relationships with other junket operators in Asia,” company chief executive Brian Goodman said in a statement.
The joint venture between Elray and Mr Qi was first announced in May. Elray stated at the time that it would result in the company “holding a profit share agreement with VIP rooms in Macau, under which Elray will receive an up to 48 percent share of profits generated by the licensed casino operations”.
The statement added that Mr Qi and his team already participated in the revenue streams of “many major luxury VIP gaming facilities in Macau”, without providing further details. There was no mention of extending the partnership to the Philippines.
Recent ELRA News
- Form 253G1 - • Edgar (US Regulatory) • 01/10/2024 01:54:29 PM
- Form QUALIF - Notice of Qualification [Regulation A] • Edgar (US Regulatory) • 12/22/2023 05:15:21 AM
- Form 1-A - Offering Statement [Regulation A] • Edgar (US Regulatory) • 12/06/2023 07:22:35 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM