NEW YORK, June 19, 2015 /PRNewswire/ -- Elray Resources Inc. (OTCPK: ELRA) trading as Elray Gaming announced today that Revenues are up substantially Quarter over Quarter.
Photo - http://photos.prnewswire.com/prnh/20150618/224252
Revenues for Q1 2015 over Q4 2014 were up 49%.
Brian Goodman, CEO stated that, "Elray is making exceptional progress and will post another Q/Q Revenue Increase for Q2, 2015 coupled with a further reduction in debt. Elray has assisted its clients in generating additional revenues and profitability as a result of its unique IP/Technology, skilled team and its customer retention and marketing tools. Online gambling is a global phenomenon. The North America market is beginning to show solid growth and certain states are already allowing regulated activity. Elray is currently developing specific tools for the US market and will play a part in this lucrative market and provide its 'state of the art' technology to licensed operators."
About Elray
Elray is an established Gaming entity that 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 and Sydney, homes of the largest gaming operators, which helps us actively manage and serve our clients. Our sophisticated software automatically declines any gaming requests from within the United States, in strict compliance with current US law.
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.
Our sophisticated software systems automatically decline and denies any gaming requests from within illegal gaming jurisdictions including but not limited to the United States, Hong Kong, Singapore, United Kingdom, France, Italy and Israel and prevents any access to the products that we support from any of these jurisdictions ensuring that residents of these countries cannot participate and are in strict compliance with the laws of these countries.
We comply with all regulations, rules and directives of governmental authorities and agencies applicable to online gaming. Regulations relating to online gaming vary significantly in different jurisdictions. Various sophisticated methods are utilized prior to acceptance of deposits to ensure that funds are only accepted from gamers in jurisdictions in which we are legally entitled to provide services.
The Unlawful Internet Gambling Enforcement Act of 2006 ("UIGEA") became United States ("U.S.") law in late 2006 and effectively curtailed legal participation by U.S. players in online gambling. The UIGEA prevented financial transactions related to online gaming in the U.S. Players in the U.S. are currently legally precluded from participating in online gambling. Elray's online gaming products are not available to U.S. players and also not available to residents of Hong Kong.
Contact:
Jacqui Hawksworth
Phone: (917) 775-9689
Email
SOURCE Elray Resources Inc.
Share this article