Replies to post #27795 on Elray Resources Inc (ELRA)

[Tadaaa]

Actually, it is double that.....lets do it again



$1.5 million x 1.75% = 26,250.00 per day x 48% = 12,600.00 per day x 365 days = $4,599,000.00 in annual revenue for ELRA.

Did see the 1.75% from Baccarat but where did we get the 48% of the 1.75% ??

Thank you and GLTA !!!

:-)

[integral]

The problem is, the last correspondence was the following:

NEW YORK, May 05, 2014 (GLOBE NEWSWIRE via COMTEX) --

Elray Resources Inc. announced today that it has entered into a Letter of Intent to form a Joint Venture with one of Asia's most experienced Junket Operators, Mr. Qi Xiaolong and Associates.

The JV will result in Elray holding a profit share agreement with VIP Rooms in Macau, under which Elray will receive an up to 48% share of profits generated by the Licensed Casino Operations. Mr. Qi and his team currently participates in the revenue streams of many major luxury VIP gaming facilities in Macau, China the largest and most lucrative gaming market in the world.

VIP gaming operations in Macau consist of VIP rooms that cater exclusively to high-limit Baccarat table games. Gaming Promoters in Macau have historically maintained the majority of VIP customer relationships. The Promoters secure VIP rooms through agreements in which they receive either a commission on turnover or a percentage of the casino net gaming win or loss on a pre-gaming tax basis.

Mr. Qi will appoint an executive director to the board of Elray with Brian Goodman remaining as Chief Executive.

Upon signing the agreement, Mr. Qi commented, "I am excited to be part of this new venture which will enable us to capitalize on the largest gaming market in the world and the benefits provided by Elray and its experienced management team will enable me to exponentially grow my existing gaming business and raise the additional capital to make acquisitions and open multiple licensed VIP rooms in Macau."

Brian Goodman, CEO stated that, "Elray has been working hard to participate in this lucrative and rapidly growing market and whilst it has had some interim setbacks it will now be free to enter this lucrative arena. It has been a steep learning curve but Elray is well positioned to add value to Mr. Qi's existing gaming business. The Macau opportunity together with the US listing will enable the company to raise growth capital, acquire other gaming promoters in Macau as well as in other jurisdictions and create a profitable company, creating enormous institutional worth, whilst aggressively increasing the brand value on a global scale returning excellent returns for shareholders, overall an excellent result for Elray shareholders." "This partnership will result in immediate revenues for Elray."

Mr. Qi Xiaolong and Associates

Mr. Qi's and his team have over 20 years of gaming experience and have a large network of successful agents throughout China. Mr. Qi has a valuable Network of High Wealth Players that will continue to support this business and the new VIP Gaming Rooms that will be opened. Mr. Qi is an educated Chinese Citizen and his team of professional gaming operators will be leading the future development and growth of Elray within Asia.

How did it become the issuers only source of revenue and never announced that the LOI was executed into a material agreement, and why was it not in the 10Q under subsequent events, nor was it disclosed with the agreement as an exhibit on Form 8K under Item 1.01?

What happened? Where is the directorship appointment? How did the LOI signed 66 days ago, have 45 days of operations with no material agreement formalized or disclosed?

REG FD VIOLATION?

[1990Flstf]

This news is great!!! Just a slice of the gaming pie that Elray Gaming has in the oven!! Bring on the Macau news!!!!!!
Elra

[OptimusPrime]

I line this post and potential !! ELRA

[BottomzUpp]

Gapper coming pre market PR?!?!?

[cashwallet]

Re: Wagering Revenues

Yes liodog! In all honesty, things are in full swing. ELRA is taking in large amounts of profits as you quoted 4 months ago!! We know what side of the bread the butter is on. No one in ELRA owns a 'laughing stock'. And the moves executed by ELRA just keep getting better!

ELRA

[trustme]

Yes. I hope here make me some money. Otherwise i will cut couple tree.