ELRA GREAT NEWS CONTINUES NEW PR TODAY
9/19/2014
Elray Gaming Terminates Reverse Stock Split
NEW YORK, Sep 19, 2014 (GLOBE NEWSWIRE via COMTEX) -- Elray Resources Inc. (OTCPK:ELRA) trading as Elray Gaming announced today that it has lodged a Termination of Amendment namely the Reverse Stock Split 'Certificate of Change filed Pursuant to NRS 78.209 For Nevada Profit Corporations' filed with the Nevada Secretary of State on the 2 of September 2014.
Elray has determined, in the interest of shareholders, to cancel the originally planned Reverse Stock Split that was to be effective on the 22 of September.
This decision was reached as a result of positive opportunities and achievements by the company in recent weeks
9/22/2014
Elray Gaming Concludes a Master License / Reseller Agreement
NEW YORK, Sep 22, 2014 (GLOBE NEWSWIRE via COMTEX) -- Elray Resources Inc. (OTCPK:ELRA) trading as Elray Gaming announced today that it has finalized a Master Software Reseller Agreement with Moorgate Commercial Limited.
In terms of this agreement Elray Gaming will be permitted to Resell and Operate the Playtech Ltd. Gaming Software in Asia.
Playtech is the world's largest online gaming and sports betting software supplier. Founded in 1999 by entrepreneurs from casino, software engineering and multimedia industries, the company has become the strongest player in the market of gaming solutions.
Playtech Ltd (www.Playtech.com) has a market capitalization of over 2 Billion Pounds (3.3 Billion USD) and a Net Income of over 489 Million Pounds (815 Million USD).
In terms of this agreement, Elray Gaming now has the rights to Resell and operate the Playtech Software in defined territories in Asia.
Elray will work closely with Moorgate and Playtech Ltd to build its Asian business and capture a slice of the Global market expected to reach USD 117.9 Billion USD in 2015*
*Transparency Market Research
The License Agreement will allow Elray to build on its Junket Operator relationships and existing business and will generate ongoing revenues in Asia the world's most lucrative Gaming market.
9/23/2014
Elray Gaming Finalizes an Agreement to Acquire Golden Galaxy Casino
NEW YORK - September 23rd, 2014 - InvestorsHub NewsWire - Elray Resources Inc. (OTCPK:ELRA) trading as Elray Gaming announced today that it has finalized an agreement to acquire an operating and established online casino by the name of Golden Galaxy (www.goldengalaxy.com )
Golden Galaxy Casino is an established and licensed online casino operating in multiple jurisdictions across the globe.
Golden Galaxy has generated $6.9 Million Dollars of turnover in the last 12 months, 5,487,361 games have been played by over 21,142 registered Players. Golden Galaxy Casino offers over 250 state of the art casino games including Blackjack, Roulette, Baccarat and Slots.
The acquisition is in line with Elray’s gaming strategy and the recently concluded Reseller and Operating agreement with Moorgate Ltd.
In terms of the agreement Elray will initially acquire a 25% stake in the operating Casino with options to acquire additional percentages based on Golden Galaxy achieving profit milestones.
In consideration for the purchase Elray will issue Preferred Series C stock with a 24 month restriction on conversion.
The acquisition will generate additional revenues to Elray and will be concluded on the achievements or pre-defined profit benchmarks set for the operational Online Casino.
