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    Tagged Elray Gaming

    Elray Gaming Completes Acquisition Requirements of Golden Match, a Macau Gaming Company

    Posted on June 20, 2012 by

    June 20, 2012 – Elray Resources Inc. (ELRA), announced today that it has completed all of its obligations and requirements to acquire the outstanding shares in the Macau gaming company, Golden Match.

    Macau Gaming Merger

    Golden Match is an investment holding company, who’s principal business activity is to hold a profit share agreement with VIP Room Gaming Promoters, from whom they receive a profit stream. These VIP Room operations are within Major Casino’s in Macau, the largest gaming market in the world. The VIP Room Gaming Operators are duly incorporated under the laws of the Special Administrative Region of Macau and promotes Casinos in Macau SAR, pursuant to a license issued by the Gaming Inspection and Coordination of Bureau of the Government of Macau (DICJ).

    Elray has now met all conditions with respect to its recent “Public Stock for Private Acquisition Agreement”, dated May 4th 2012 (the “Purchase Agreement“) The completion of the conditions of the transaction by Elray now positions the company to take advantage of the explosive growth in Macau gaming and continue its growth.

    VIP gaming operations in Macau consist of VIP rooms that offer exclusively high-limit baccarat table games. Baccarat is the largest source of gaming revenue in Macao. The Promoters secure VIP rooms through agreements in which they receive either a commission on turnover or a split of the casino net gaming win or loss on a pre-gaming tax basis. Gaming Promoters in Macau have historically maintained the majority of VIP customer relationships.

    Macau is part of the territory of the Peoples Republic of China, located on China’s southeast coast to the west of the Pearl River delta. The Macau Special Administrative Region (“MSAR”) was established on December 20, 1999, after Macau was administrated by Portugal for more than 400 years.

    Macau is one of the most rapidly growing economies in Asia and is the only territory within China where casino operations has been legalized. In 2011, total revenues generated by casinos in Macau were approximately $33.5 billion, more than four times the revenues generated by the Las Vegas strip during the same period (source:Macau Gaming Inspection and Coordination Bureau). The Macau gaming industry has grown at an average of 37.5% per annum over the last 5 years. (2007 to 2011, source: Macau Statistics and Census Bureau) Read the rest of this entry »

    Ludlow Issues $0.04+ Target on ELRA Based on Macau Gaming Merger

    Posted on June 18, 2012 by

    ELRALudlow Issues $0.04+ Target on ELRA Based on Macau Gaming Merger Last Updated: June 15, 2012 – 7:15am EST

    (NEW YORK)–Ludlow Capital, an equity research firm based out of New York City, issued research upgrades on Elray Gaming, Inc, which is traded under the name Elray Resources, Inc (OTC:ELRA), based on the acquisition of Macau gaming company, Golden Match, with a near-term target of $0.04 to $0.05, and longer-term target of $0.10 per share.

    Elray Gaming announced a definative agreement to complete the acquisition of Macau gaming company, Golden Match. The company’s principal business activity is a profit sharing agreement with a VIP Room Gaming Promoter, the terms of which they receive 80% of the profit stream from the Promoters, which currently participates in the promotion of many major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world.

    The company has negotiated a profit sharing agreement with Cali Promocao de Jogos Sociedade Unipessoal Lda. (CALI), a company duly incorporated under the laws of the Special Administrative Region of Macau, and promotes Casinos in Macau SAR pursuant to a license issued by the Gaming Inspection and Coordination of Bureau of the Government of Macau SAR.ELRA

    Over the past 5 months, CALI generated approximately $17 million (US) in profit, after tax. ELRA Merger Valuation

    Taking that $17 million profit into consideration, a rough fiscal year net profit for CALI would be in the range around $37 million, after taxes. If given a 80% profit sharing bases, that would give Golden Match, and thus ELRA, a yearly net profit of around $29.6 million, before operating expenses.

    ELRA currently has around 700 million shares issued and outstanding, but for the sake of closing the merger, and estimating for dilution to close the deal, even at high-range of 3 billion shares issued and outstanding, that would still give ELRA an EPS estimate of around $0.01 EPS. Read the rest of this entry »

    Elray Gaming announces that it has concluded a definitive agreement to Acquire Golden Match, a Macau Gaming Company

    Posted on May 4, 2012 by

    ELRANEW YORK, May 4, 2012 — Elray Resources Inc. (ticker ELRA.OB) announced today that it has entered into an agreement to acquire all of the outstanding shares of Golden Match, a company incorporated in the British Virgin Islands, following a letter of intent which was signed on March 22, 2012.
    Golden Match is an investment holding company. Its principal business activity is to hold a profit share agreement with a VIP Room Gaming Promoter, under which it receives 80% of the profit stream from the Promoters. The Promoter currently participates in the promotion of many, major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world.

    VIP gaming operations in Macau consist of VIP rooms that cater exclusively to high-limit Baccarat table games. Baccarat is the largest source of gaming revenue in Macau, Gaming Promoters in Macau have historically maintained the majority of VIP customer relationships. The Promoters secure VIP rooms through agreements in which they receive either a commission on turnover or a percentage of the casino net gaming win or loss on a pre-gaming tax basis.

    About Golden Match:

    Golden Match is a company that has negotiated a profit sharing agreement with CALI Promocao de Jogos Sociedade Unipessoal Lda. (CALI), a company duly incorporated under the laws of the Special Administrative Region of Macau.
    CALI promotes Casinos in Macau SAR, pursuant to a license issued by the Gaming Inspection and Coordination of Bureau of the Government of Macau (DICJ).

    With immediate effect Mr. Lao Sio I. is appointed Chairman of the Board of Directors with Brian Goodman remaining as Chief Executive.

    Upon signing the agreement, Mr. Lao Sio I. commented “I am excited to be part of this new venture which will enable us to take advantage of exciting growth opportunities specifically in Asia and the benefits provided by Elray will enable me to exponentially grow the gaming business. Macau has become the Gambling Capital of the World and continues to grow at a rapid rate, new casinos are opening, existing ones are expanding with more and more people visiting Macau, we will now be able to pursue these opportunities.”

    Brian Goodman, current CEO stated that “Elray will now be well positioned to develop and grow as a gaming entity internationally. The Macau opportunity together with the US listing will enable the company to raise growth capital, acquire other gaming promoters in Macau as well as in other jurisdictions and create a profitable company, creating enormous institutional worth whilst aggressively increasing the brand value on a global scale returning excellent returns for shareholders, overall an excellent result for Elray shareholders.” Read the rest of this entry »

    Obama Gives A Huge Gift To The Online Gambling Industry

    Posted on December 27, 2011 by

    ELRAA Justice Department opinion made public this week provides a huge opening for the online gambling industry.

    Online gambling in all forms has been prohibited by the Wire Act of 1961, which forbids gambling via telecommunications across state lines.

    The new opinion, however, says that the act applies only to sports betting.

    Online lotteries in New York and Virginia are on the table now. This could open the door for online gambling — which was slammed by the DoJ only months.

    Online gambling provides an easy revenue source for beleaguered states. Similarly the DoJ has pursued new revenue by authorizing new powers for investigating tax dodgers from California to Switzerland.

    Read more: http://www.businessinsider.com/obama-gives-a-huge-gift-to-the-online-gambling-industry-2011-12#ixzz1hkuPhWJr

    This is great for companies like Elray Gaming (ELRA) Read below:

    Based on our research and the company’s recent increase in revenue projections, The Stock Wizards believes ELRA could be a dominating force in the Online Casino space and we encourage our subscribers to keep ELRA on their radar!

    Research ELRA

    www.elraygaming.com

    ELRA gaming operations are based in Sydney, Australia. The company is managed by its online gaming founder, Brian Goodman, and gaming operations are carried out by a multi-lingual team of gaming professionals.

    ELRA has offices in the USA, London, South Africa and Mauritius and has support facilities in Israel, Curacao and the Philippines.

    ELRA is a developer of turnkey gaming products, and is currently developing a host of social networking and mobile applications for the investor community.

    ELRA is in the process of launching a Joint Venture product with one of the world’s largest global financial service providers and will provide a financial trading platform offering real money financial service trading facilities (non USA) as well as a Fantasy Trading / Social Networking products in Stock, Options and currency markets.

    ELRA will offer both web and mobile-based FOREX trading platforms to take advantage of the increased interest in currency trading from around the world. The Company will look to develop these platforms to comply with both local and international regulations.

    ELRA will launch a suite of products aimed at capitalizing on the rapidly growing Social Network and Fantasy Markets. All products will be accessible via the web as well as smart phones, and will allow a network of active investor community. These products will provide Elray Gaming an additional growth component in its online gaming portfolio, and develop an active network of customers interested in the financial markets.

    ELRA currently manages a comprehensive range of online gambling products including branded Online Casino’s and a Bingo room. Internet casinos and Bingo rooms are online versions of the traditional land-based casinos. Online casinos allow gamblers to play and wager on traditional casino games as well as play Bingo via the Internet.

    Elray Gaming (ELRA)

    Posted on by

    ELRA ChartElray Resources OTCQB: ELRA

    Current Price: .0139

    Elray gaming was formed in 2011 when a group of well established and successful Online Casino marketing specialists identified an opportunity: the market need for legally compliant, professional and qualified consultants to effectively manage, market and operate Online Casinos, Financial Products, Bingo Rooms, Social and Fantasy Games.

    Research ELRA
    www.elraygaming.com

    ELRA gaming operations are based in Sydney, Australia. The company is managed by its online gaming founder, Brian Goodman, and gaming operations are carried out by a multi-lingual team of gaming professionals.

    ELRA has offices in the USA, London, South Africa and Mauritius and has support facilities in Israel, Curacao and the Philippines.

    ELRA is a developer of turnkey gaming products, and is currently developing a host of social networking and mobile applications for the investor community.

    ELRA is in the process of launching a Joint Venture product with one of the world’s largest global financial service providers and will provide a financial trading platform offering real money financial service trading facilities (non USA) as well as a Fantasy Trading / Social Networking products in Stock, Options and currency markets.

    ELRA will offer both web and mobile-based FOREX trading platforms to take advantage of the increased interest in currency trading from around the world. The Company will look to develop these platforms to comply with both local and international regulations.

    ELRA will launch a suite of products aimed at capitalizing on the rapidly growing Social Network and Fantasy Markets. All products will be accessible via the web as well as smart phones, and will allow a network of active investor community. These products will provide Elray Gaming an additional growth component in its online gaming portfolio, and develop an active network of customers interested in the financial markets.

    ELRA currently manages a comprehensive range of online gambling products including branded Online Casino’s and a Bingo room. Internet casinos and Bingo rooms are online versions of the traditional land-based casinos. Online casinos allow gamblers to play and wager on traditional casino games as well as play Bingo via the Internet.

    According to Global Betting and Gaming Consultants (“GBGC”), the global gaming market, excluding the U.S., is expected to grow to approximately $13.9 billion per year by 2012.

    Internet gambling revenues for offshore companies was estimated to be $5.9 billion in 2008 from players in the United States and $21.0 billion from players worldwide, according to H2 Gambling Capital.

    The Unlawful Internet Gambling Enforcement Act of 2006 (“UIGEA”) became U.S. law in late 2006 and effectively curtailed legal participation by U.S. players in online gambling.

    As a result of the passing of the UIGEA, many online gaming companies had to shift their business models to prevent U.S. player participation. Complying with online gambling law requires sophisticated Internet and financial compliance techniques and many companies were unwilling or unable to comply.

    A number of companies have been unable to overcome the technical and financial challenges caused by the passing of the UIGEA with the result that they have been unable to replace lost revenues to the extent necessary to be viable operators.

    As a result, opportunities exist for acquisitions and joint ventures by the compaies such as ELRAY GAMING that are scalable and set to comply with U.S. online gaming laws.

    For smaller operators, the passing of the UIGEA effectively curtailed many operations as they were unable to make the transition to an off-shore dominated clientele. Elray Gaming believes that this has created opportunities for growth by acquisition and joint ventures.

    The activity of these sites could easily be absorbed into the operations of ELRAY GAMING without a significant proportional increase in costs. Additionally opportunities exist in acquiring operators currently using ELRA for management of their gaming operations.

    ELRA Managed Brands

    ELRA

    Based on our research and the company’s recent increase in revenue projections, The Stock Wizards believes ELRA could be a dominating force in the Online Casino space and we encourage our subscribers to keep ELRA on their radar! Read the rest of this entry »