NEW YORK, Sept. 16, 2014 (GLOBE NEWSWIRE) -- Elray Resources Inc. (OTCPK:ELRA)
2014 has been a year marked with challenges for Elray but it has also been a year of remarkable accomplishments, as we progress towards our vision of being a Globally Recognized and Successful Gaming Company.
We remain focused on building our own Intellectual Gaming property as well as continuing to be a global gaming service provider with particular emphasis son the rapidly growing Online Gaming segment of the marketplace.
PROFITABLE GROWTH OVER THE LONG TERM
In the last twelve months we have made some considerable achievements, we have generated the company's first revenue streams via contractual relationships with strategic gaming operators, we have built unique, valuable gaming technology including a fully operational Virtual Horse Racing System www.simVracing.com and we are in the midst of deploying this technology into the lucrative online gaming arena which will result in additional revenues, we have concluded a JV agreement with a major Junket operator in Asia leading to large wagering activity, we have raised considerable investment via a private placement of stock.
MULTIPLE REASONS TO 'BET ON US' (ELRAY'S BUSINESS SLOGAN)
MILLIONS OF DOLLARS OF WAGERING
Elray is already 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.
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.
Elray will continue to develop and grow this segment of the business.
BILLION'S OF POTENTIAL CONSUMERS AND A MULTI BILLION DOLLAR MARKETPLACE
The Global Gaming market was worth USD 70.5 billion in 2011 and is expected to reach USD 117.9 billion in 2015, growing at a CAGR of 13.7% from 2011 to 2015. In the overall global market, the Asia pacific region is the fastest growing geographical segment till 2015. The demand is forecasted to increase in the upcoming years worldwide due to advanced gaming features and increasing number of internet users. * Transparency Market Research.
Elray is focused and already actively involved on the Emerging Markets and China and these markets present massive opportunities for Elray.
ONE UNITED LEADERSHIP TEAM
We have built an experienced team with extensive gaming expertise. This multilingual team has a broad capability covering all aspects of the business including technology development, marketing, customer support and compliance.
The team brings tremendous passion, energy and experience to the company's future and will continue to drive revenues and resultant value in Elray.
Elray is currently finalizing numerous projects that will add considerable value to the company as a whole:
- A master distributor agreement with the world's largest gaming software provider
- An agreement to promote a licensed High Roller Slot facility in Macau with over 100 of the world's latest Slot Machines
- The acquisition of an established and reputable licensed Global Online Casino with thousands of active players and a Multi-Million turnover.
As we look back on 2014, and forward to the rest of 2014 and 2015, it becomes increasingly clear that our ability to create shareholder value is shaped by three essential and core strategies:
- Continuing to develop and deploy our own valuable intellectual property,
- Increasing our customer base with respect to Online Gaming Services and Support,
- Continuing to build our operational gaming businesses and JV partnerships and acquiring additional gaming businesses that generate revenues.
These three essential strategies comprise our corporate strategy, define our standard for assessing performance, and shape all of our thinking.
Chief Executive Officer
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.