Elray Resources and Kings of Sport Announce Strategic Joint Venture to Launch Kings of Sport Casino

Rhea-AI Summary

Elray Resources Inc. (ELRA) announced a strategic joint venture with Kings of Sport (KOS) to launch the Kings of Sport Casino, incorporating Elray’s crypto gaming technology. The global blockchain in gaming market was valued at $4.9 billion in 2022, and the global casinos market is expected to grow to $224.1 billion by 2030.

Positive

• Strategic joint venture with KOS to launch Kings of Sport Casino
• Incorporating Elray’s innovative crypto casino and sports betting technology
• Opportunities to build brand recognition in new markets and gain access to high-level sports franchises and global brands

Negative

• None.

LAS VEGAS, NV, Nov. 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Elray Resources Inc. (OTCPK:ELRA), a developer and licensor of online crypto gaming technology and systems, today announced it has entered into a strategic joint venture with Kings of Sport (KOS) to launch the Kings of Sport Casino, licensed in Curacao and expected to operate globally in 15 countries.

The Casino will incorporate Elray’s innovative crypto casino, sports betting technology and exciting gaming content to provide a single wallet solution for customers to utilize crypto and traditional currencies in sportsbook markets and online casinos. This collaboration not only offers an immersive gaming experience to members of KOS’ vast sports and entertainment network, but also creates a platform to build brand recognition in untapped markets, facilitated by partnerships with prominent sports franchises and global brands.

The crypto casino market is witnessing exponential growth, driven by factors such as increased acceptance of cryptocurrencies, heightened security measures, and the growing demand for decentralized financial transactions. According to Allied Market Research, “The global blockchain in gaming market size was valued at $4.9 billion in 2022; and

MarketWatch reported that “the global casinos market, valued at US$157.5 billion in 2022, is expected to grow to US$224.1 billion by 2030, with a steady CAGR of 4.5% during the period from 2022 to 2030.”

The joint venture with Kings of Sport reflects Elray's commitment to being at the forefront of technological advancements in the gaming industry and capitalizing on the tremendous potential offered by the intersection of crypto and online casinos. In partnering with KOS, it also gives Elray extensive opportunities to build its brand recognition in new markets and gain access to high-level sports franchises and global brands.

Elray Resources Inc. owns Blockchain/Crypto gaming technology and provides online crypto casinos and crypto gaming technology to online crypto casino operators.

Forward-Looking Statements

This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, our disclosure report filed with OTC Markets for the period ended September 30, 2022. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.

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Elray Resources Inc.
Contact: Vincent Cai
Email: info@elraygaming.com 

FAQ

What is the joint venture announced by Elray Resources Inc. (ELRA)?

Elray Resources Inc. announced a strategic joint venture with Kings of Sport (KOS) to launch the Kings of Sport Casino.

What markets is the Kings of Sport Casino expected to operate in?

The Kings of Sport Casino is expected to operate globally in 15 countries.

What does Elray Resources Inc. provide?

Elray Resources Inc. owns Blockchain/Crypto gaming technology and provides online crypto casinos and crypto gaming technology to online crypto casino operators.

What was the global blockchain in gaming market size in 2022?

The global blockchain in gaming market size was valued at $4.9 billion in 2022.

What is the expected growth of the global casinos market by 2030?

The global casinos market is expected to grow to $224.1 billion by 2030.

What are the key factors driving the growth of the crypto casino market?

Increased acceptance of cryptocurrencies, heightened security measures, and growing demand for decentralized financial transactions are driving the growth of the crypto casino market.