Elray Gaming Acquires Virtual Horse Racing Platform From BetTek, Inc.
April 04 2014 - 9:15AM
Elray Resources Inc. (OTCBB:ELRA), through its online gaming and
turnkey solution subsidiary Elray Gaming, announced it has
finalized the acquisition of the
SimRacing virtual
horse racing platform.
The Company is already running a Beta version and will shortly
have a working version of the unique Virtual Horse Racing platform.
Races should be available within the next week for public viewing.
The Company is currently working with a large licensed gaming
partner in Hong Kong, with the intention of entering into a Joint
Venture, licensing the valuable technology and is aiming to
exhibiting the product at the Asian Gaming Show on the 20th May
being held in Macau. www.G2EAsia.com
Brian Goodman, the CEO of Elray Gaming Inc. commented, "Elray is
now showing benefits as a result of its focus and expertise in the
valuable and rapidly growing Gaming Segment. In addition to our
recent milestone of revenues generated as a result of a consultancy
agreement for $250,000 over 12 months with online casino operator,
Universal Technology Investments Limited (UTI), we are now very
excited to announce the acquisition of this new virtual horse
racing technology and this will further strengthen Elray Gaming's
portfolio and generate additional revenues. The Company will work
to deploy this virtual betting platform through joint ventures,
licensing agreements, and potentially have this real time virtual
betting game in such places as casinos, betting parlors, and sports
bars."
"At the end of last year the Macau gaming stocks, on average
were up over 22% over in 30 days, 45% over the previous three
months, and they doubled over the previous year. The Global Gaming
market still continues to be one of the strongest and most
resilient markets. The revenues of Mobile Gaming will surpass 70
Billion USD this year and the number of mobile gamers is expected
to surpass 1.2 Billion making this segment of the market one of the
most lucrative."
About SimRacing
The SimRacing platform was built in conjunction
with horse owners, breeders, trainers, jockeys, handicappers and
patrons of horse racing.
The unique user experience is unmatched by any other virtual
game on the market offering Real-time 3D texture-rich animated
races.
The SimRacing virtual world is the heart of the
game. Elray has re-created the world of live horse racing down to
every element from breeding, bloodlines, speed rating and track
conditions adding an element of skill and this all resulting in an
engaging real life experience.
SimRacing has over 7 years of history including
400,000 horses that have been bred through the characteristic
profiling and historical performance of the parents and
grandparents. The virtual blood-lining process ensures that horses
are unique by taking on the running style and characteristics bred
into them by their virtual parents. Some horses will be afraid of
the getting to close to the rail, some will lead the race and the
fall off, while others will come from behind. All of the excitement
you expect to see in live horse racing. Based on these bloodlines
and work outs, horses gravitate to different classes that they will
compete in, moving up or down in class depending on their race
results. This promotes organic behavior and produces a real horse
racing experience.
As of March 14, 2014, the Company has approximately 51,381,487
common shares issued and outstanding.
About Elray Gaming
Elray Gaming provides a complete turnkey solution for numerous
successful online gaming companies as well as performs strategic
marketing and consulting services for Online Gaming operators from
all parts of the world. While our US office is in New York, we are
a global company with offices in London, Sydney and Curacao, homes
of the largest online operators on the net, which helps us actively
manage and serve our clients. Our sophisticated patented software
automatically declines any gaming requests from within the United
States, in strict compliance with current US law. Our Sydney office
allows us to tap into skilled resources and some of the world's
largest client base, for regular, personal interaction. As our
active operations are in a jurisdiction that is friendly to online
gaming, our clients can rest assured that we are here to stay.
www.elraygaming.com
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, such as statements relating to financial results and plans
for future development activities, and are thus prospective.
Forward-looking statements include all statements that are not
statements of historical fact regarding intent, belief or current
expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control. Actual results may differ materially from those projected
in the forward-looking statements. Among the factors that could
cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties
associated with the Company's business and finances in general,
including the ability to continue and manage its growth,
competition, global economic conditions and other factors discussed
in detail in the Company's periodic filings with the Security and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statements.
CONTACT: Melissa Diaz
South Street Media, Inc
Phone: (917) 937-8968
Email: info@southstreetmedia.com
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