Replies to post #1061 on Elray Resources Inc (ELRA)

[sweet crude]

done!

good highlights in the post. I will listen to it again later this evening and make up a killer post highlighting all the great bullet points.

[sweet crude]

news article updated this morning

I may have to postthis on some trader boards for others to read.

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Elray Gaming Comments on Online Gambling Legalization in Investor Call (ELRA, CGAQ)
Last Updated: May 27, 2011 - 9:44am EST

(NEW YORK)--Elray Gaming, which is traded under the name Elray Resources (OTC:ELRA), conducted an investor conference call Thursday morning to dicusss current online gambling operations, and prospects of spinning-off their Gold assets as a dividend.

Gold Dividend Spin-off

In an investor call early Thursday morning, the Company announced there would be an announcement within the next week or so regarding the spin-off of their Cambodia Gold property assets, and have set a record date for this spin-off dividend at June 15th for shareholders of record.

Now that the Company has finalized its reverse merger process, the Company is now looking to move ahead with spinning-off the Gold property assets that were inside the shell pre-merger. This spin-off should give investors the opportunity to not only own a dynamic and profitable online gaming operation, but be able to gain themselves a dividend in a Gold property, all in one investment.

But investors need to be shareholders of record before the June 15th deadline, and with the stock attempting a bounce from a recent decline, shares for this post merger dividend may become harder and harder to obtain.

Operational and Revenue Guidance

For 2011, the Company is projecting total gaming proceeds of $100 million, of which the company would recognize $6.5 million in gross revenues, and $1.1 million in net income. For 2012, the Company is projecting total gaming proceeds to increase to $320 million, of which the company would recognize $8.8 million in gross revenues, or $3.4 million in net income.

Brian Goodman, the CEO of Elray Gaming commented that the prospects for some sort of legalization of online gambling is more a matter of when, not if, and spelled out their current online gaming operations, and structure of the company post reverse merger.

Conference Call Replay

To hear a replay of this call, and their outlook for the online gaming industry and potential legalization you can access if by calling [phone], then pass code 319620.

ELRA stock was last traded at around $0.014 per share. (see chart)