NEW YORK, Sept. 22, 2014 (GLOBE NEWSWIRE) -- Elray Resources Inc. (OTCPK:ELRA) trading as Elray Gaming announced today that it has finalized a Master Software Reseller Agreement with Moorgate Commercial Limited.
In terms of this agreement Elray Gaming will be permitted to Resell and Operate the Playtech Ltd. Gaming Software in Asia.
Playtech is the world's largest online gaming and sports betting software supplier. Founded in 1999 by entrepreneurs from casino, software engineering and multimedia industries, the company has become the strongest player in the market of gaming solutions.
Playtech Ltd (www.Playtech.com) has a market capitalization of over 2 Billion Pounds (3.3 Billion USD) and a Net Income of over 489 Million Pounds (815 Million USD).
In terms of this agreement, Elray Gaming now has the rights to Resell and operate the Playtech Software in defined territories in Asia.
Elray will work closely with Moorgate and Playtech Ltd to build its Asian business and capture a slice of the Global market expected to reach USD 117.9 Billion USD in 2015*
*Transparency Market Research
The License Agreement will allow Elray to build on its Junket Operator relationships and existing business and will generate ongoing revenues in Asia the world's most lucrative Gaming market.
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.