Interactive
US – Elray increases share in Golden Galaxy
By Phil - 12 January 2015
Elray Resources, trading as Elray Gaming, has acquired a further interest in Golden Galaxy Casino (www.goldengalaxy.com).
Elray has exercised an option to acquire an additional 23 per cent of Golden Galaxy bringing its total ownership of the business to 48 per cent.
Golden Galaxy Casino is an established and licensed online casino operating in multiple jurisdictions across the globe.
Mr Goodman, CEO of Elray Gaming stated that “This is a valuable acquisition. The casino has exceeded expectations and is achieving excellent growth. The revenues in Golden Galaxy Casino for the month of December increased by113 per cent over November and the Gaming Income in December was up 65 per cent on that of November. We will continue to add revenue generating casino operations to our portfolio and I am confident that Elray will benefit as a result of increased revenues and reducing debt.”
Golden Galaxy Casino has generated over $8.7m of turnover in the last 12 months, 7,667,529 games have been played by over 24,268 registered Players. Golden Galaxy Casino offers over 250 state of the art casino games including Blackjack, Roulette, Baccarat and Slots.
The acquisition is in line with Elray’s gaming strategy. In consideration for the purchase Elray will issue Preferred Series C stock with a 24 month restriction on conversion. The acquisition will be concluded on pre-defined profit benchmarks set for the operational Online Casino.
