NEW YORK, July 14, 2015 /PRNewswire/ -- Elray Resources Inc. (OTCPK: ELRA) trading as Elray Gaming announced today that are up substantially Quarter over Quarter.
Revenues for Q2 2015 over Q1 2015 are up 66.9 %.
Revenues for Q2 2015 over Q2 2014 are up 382.0 %
Brian Goodman, CEO stated that, "Elray has now managed to achieve double digit Revenue increases month on month since the 3rd Quarter of 2014 coupled with a further reduction in debt in the last two Quarters.
A Revenue Increase of 66.9% over the last three months and an overall Revenue Increase of over 382.0% over the same Quarter in 2014 is an excellent achievement.
Elray's additional revenues and profitability are as a direct result of its continuing recognition in the industry backed by its unique IP/Technology and skilled team as well as its customer retention and marketing tools. Online gambling is one of them fastest growing segments of the gambling industry. The Online Gaming segment of the overall Gaming Market has shown particular strength progressively expanding and growing globally. The Company in recent months has focused on new and emerging markets including North America, which is beginning to show solid growth. 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."
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 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.
Synergy Business Consultants
SOURCE Elray Gaming