NEW YORK, July 15, 2014 (GLOBE NEWSWIRE) -- Elray Resources Inc. (OTCBB:ELRA) announced today that it has begun generating considerable gaming activity in a Licensed Live Dealer Casino Facility located in Manila as a result of its Joint Venture with its Junket Operators, Mr. Qi Xiaolong and Associates.
The JV has resulted in gaming revenues (Wagering) of greater than $68,000,000 over a 45 Day period and average of over 1.5 Million USD per day and a day high of $9,296,568 USD.
Brian Goodman, CEO stated that, "Whilst Elray only receives a small percentage of the net win that is generated within the Licensed Casino Facility the magnitude of wagering generated in such a short period of time is very encouraging and will now pave the way for Elray to enter into further relationships with other Junket operators in Asia creating exponential growth within the world's largest gaming arena. The dominant game which is Baccarat generates a net win to the casino of around 1.75% of monies wagered."
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.
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Source:Elray Resources, Inc.