Elray Gaming Acquires an Additional Stake in Golden Galaxy
Casino
NEW YORK, NY - January 7th, 2015 - Elray Resources Inc.
(OTCPK:ELRA)
trading as Elray Gaming announced today that it has acquired a
further interest in Golden Galaxy Casino (www.goldengalaxy.com).
Elray has exercised an option to acquire an additional 23% of
Golden Galaxy bringing its total ownership of the business to
48%.
Golden Galaxy Casino is an established and licensed online
casino operating in multiple jurisdictions across the globe.
Mr Goodman, CEO of Elray Gaming stated that “This is a valuable
acquisition. The casino has exceeded expectations and is achieving
excellent growth. The revenues in Golden Galaxy Casino for the
month of December increased by113% over November and the Gaming
Income in December was up 65% on that of November. We will continue
to add revenue generating casino operations to our portfolio and I
am confident that Elray will benefit as a result of increased
revenues and reducing debt.“
Golden Galaxy Casino has generated over $8.7 Million Dollars of
turnover in the last 12 months, 7,667,529 games have been played by
over 24,268 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
In consideration for the purchase Elray will issue Preferred
Series C stock with a 24 month restriction on conversion. The
acquisition will be concluded on pre-defined profit benchmarks set
for the operational Online Casino.
www.ElrayGaming.com
About Elray
Elray is an established Gaming entity which owns and licenses
Gaming Intellectual Property, Gaming Domains, Trademarks and Player
Databases. Whilst Elray is a US company, we have a global presence
with offices in London, South Africa, Sydney and Curacao, homes of
the largest gaming operators, 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: Elray Gaming
Email: info@elraygaming.com