Elray Gaming Looks to Expand Operations With Acquisition of Maltese Online Gaming Company
April 20 2011 - 7:00AM
Marketwired
Elray Resources Inc (OTCBB: ELRA), through its subsidiary Elray
Gaming, announced it has entered negotiations to acquire an
established online gaming company in Malta for possible entry into
European Union (EU) gaming market.
Brian Goodman, CEO of Elray Gaming, commented, "This pending
acquisition is a strategic move that will result in Elray Gaming
not only obtaining a Malta Gaming License, but will assist in
expanding our current gaming operations for possible entry into
other EU member states."
Malta is regarded as one of the leading international hubs that
regulate remote gaming effectively and responsibly. The online
gaming sector in Malta is regulated by the Malta Lotteries and
Gaming Authority which governs all remote gaming activities
conducted in Malta, ranging from national lotteries to
international e-gaming.
The recent FBI shutdown of three major online gaming sites in
the USA has resulted in a positive effect for smaller compliant
gaming operators, such as Elray Gaming, to gain market share in
this market since it complies strictly with the UIGEA (The USA's
Unlawful Internet Gambling Enforcement Act of 2006).
Elray Gaming is an operational online gaming company, with
gaming brands currently available in English, French, German,
Italian, Japanese and Russian.
About Elray Gaming
Elray is an established Global Online Gaming entity which owns
and licenses Gaming Intellectual Property, Gaming Domains,
Trademarks and Player Databases. Operations are headquartered in
Curacao, Netherland Antilles and maintain offices, representatives
and support facilities in the United States, United Kingdom,
Australia, South Africa, Mauritius, Israel and the Philippines.
Elray's business model is to offer Internet Gaming Products to
non-US players in jurisdictions where online gaming is permitted.
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: Brian Goodman CEO Email Contact 917-775-9689
www.elraygaming.com
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