Elray Resources Signs Up First Online Crypto Gaming Operator

Rhea-AI Summary

Elray Resources Inc. (OTCPK:ELRA) has signed its first operator, Maxibet Technology N.V., to launch a blockchain casino. This platform, expected to operate globally under the brand name Maxibet, taps into the growing crypto gambling sector, which is forecast to reach $93 billion by 2024. Elray's cofounder, Cathy Feng, expressed confidence in the potential success of Maxibet and its offerings. The announcement also highlighted an exclusive agreement with Golden Matrix Group to provide top-tier gaming content. This marks a significant advancement for Elray as it commercializes its crypto gaming technology.

Positive

• Elray has secured its first operator, Maxibet Technology N.V., enhancing its market presence.
• The global crypto gambling industry is projected to reach $93 billion by 2024, indicating strong growth potential for Elray.
• The exclusive agreement with Golden Matrix Group ensures high-quality gaming content for Elray's platforms.

Negative

• None.

LAS VEGAS, NV, March 14, 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 signed up its first operator, Maxibet Technology N.V., and is in the process of finalizing the operator’s blockchain casino under the brand name Maxibet, licensed in Curaçao and to be operated globally.

According to ICON, Crypto payments represent 25% of all online gambling payments and is the fastest growing sector in gaming; and the global crypto gambling industry is predicted to reach $93 Billion by 2024 (MBN Market Business News).

“It’s apparent that the online gambling business has evolved to embrace crypto currency, and crypto casinos have been capturing a significant share of the worldwide gambling market – a trend expected to continue at a rapid rate,” said Elray cofounder Cathy Feng. “We are extremely pleased with Maxibet’s decision to be the first operator to adopt our crypto technology gambling platform, with its dynamic content for casino games and sports betting; and we are confident that Maxibet and additional online crypto gaming operators who utilize Elray’s turnkey platforms will be highly successful and generate substantial revenues for themselves and Elray.”

Ms. Feng said she expected the Maxibet platform to launch shortly, and that the company is currently in discussions with additional crypto operators to adopt Elray’s technology. “This is an exciting time as Elray enters the commercial phase of our business. Now that we have a dynamic B2B platform offering participants vast and exciting content, we believe our offerings will be well-received and successful in multiple regions.”

Elray announced in December 2022 that it had entered into an exclusive distribution agreement with Golden Matrix Group (NASDAQ: GMGI) to acquire all its gaming content from GMGI. As a result, gambling platforms created by Elray for Maxibet and other B2B online crypto casino operators will feature world-class gaming content provided only by Golden Matrix.

Elray Resources Inc., based in Las Vegas, owns Blockchain/Crypto gaming technology and will provide online crypto casinos and crypto gaming technology to online crypto casino operators.

Ms. Feng and GMGI CEO Brian Goodman are related parties, board members of Elray Resources Inc. and Golden Matrix Group Inc.

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
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FAQ

What recent development has Elray Resources Inc. announced regarding operator partnerships?

Elray Resources Inc. has signed its first operator, Maxibet Technology N.V., to launch a blockchain casino.

What is the projected growth of the global crypto gambling industry?

The global crypto gambling industry is expected to reach $93 billion by 2024.

Who is Elray's first operator and what brand will they operate under?

Elray's first operator is Maxibet Technology N.V., and they will operate under the brand name Maxibet.

What kind of gaming content will Elray provide through its platforms?

Elray will offer world-class gaming content through an exclusive agreement with Golden Matrix Group.