NEW YORK, April 15, 2014 (GLOBE NEWSWIRE) -- Elray Resources Inc. (OTCBB:ELRA), through its online gaming and turnkey solution subsidiary Elray Gaming, announced it has the SimRacing virtual horse racing platform available for viewing.
The Company now has a working version of the unique Virtual Horse Racing platform.
A visual of the platform can be seen at http://vimeo.com/91968721
The Company is currently working with a Multinational licensed Casino Operator based in Hong Kong, and is finalising a Joint Venture agreement to license the valuable technology which will result in substantial revenues to Elray.
Elray will seek to exhibit the product at the Asian Gaming Show on the 20th May being held in Macau. www.G2EAsia.com Macau is the hub of the world's most rapidly expanding gaming market and plays host to the gaming industry's leading edge companies and professionals.
Brian Goodman, the CEO of Elray Gaming Inc. commented, "We are now confident that the SimRacing IP recently acquired by Elray, has considerable value and our focus is currently on deploying the product into the lucrative Asian market."
"The global gaming industry is poised for another record year, with Asia leading the way once again. Asia is the world's largest and fastest growing gaming market and a driver of a significant portion of worldwide revenue. Horserace betting is one of the largest gambling industries in Asia. The Hong Kong's Jockey Club contributes 11.7% of Hong Kong's tax revenue and the organization is the largest taxpayer in Hong Kong, as well as the largest private donor of charity funds, contributing an average of over HK$1 billion (approximately US$130 million) annually over the past ten years."
Elray will work to deploy this virtual betting platform through joint ventures with licensed gaming operators, licensing agreements, and potentially have this real time virtual betting game in such places as casinos, betting parlors, and sports bars."
About SimRacing
The SimRacing platform was built in conjunction with horse owners, breeders, trainers, jockeys, handicappers and patrons of horse racing.
The unique user experience is unmatched by any other virtual game on the market offering Real-time 3D texture-rich animated races
The SimRacing virtual world is the heart of the game. Elray has re-created the world of live horse racing down to every element from breeding, bloodlines, speed rating and track conditions adding an element of skill and this all resulting in an engaging real life experience.
SimRacing has over 7 years of history including 400,000 horses that have been bred through the characteristic profiling and historical performance of the parents and grandparents. The virtual blood-lining process ensures that horses are unique by taking on the running style and characteristics bred into them by their virtual parents. Some horses will be afraid of the getting to close to the rail, some will lead the race and the fall off, while others will come from behind. All of the excitement you expect to see in live horse racing. Based on these bloodlines and work outs, horses gravitate to different classes that they will compete in, moving up or down in class depending on their race results. This promotes organic behaviour and produces a real horse racing experience
As of March 14, 2014, the Company has approximately 51,381,487 common shares issued and outstanding.
About Elray Gaming
Elray Gaming provides a complete turnkey solution for numerous successful online gaming companies as well as performs strategic marketing and consulting services for Online Gaming operators from all parts of the world. While our US office is in New York, we are a global company with offices in London, Sydney and Curacao, homes of the largest online operators on the net, which helps us actively manage and serve our clients. Our sophisticated patented software automatically declines any gaming requests from within the United States, in strict compliance with current US law. Our Sydney office allows us to tap into skilled resources and some of the world's largest client base, for regular, personal interaction. As our active operations are in a jurisdiction that is friendly to online gaming, our clients can rest assured that we are here to stay. www.elraygaming.com
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.