SOURCE: Elray Resources Inc

April 20, 2011 07:00 ET

Elray Gaming Looks to Expand Operations With Acquisition of Maltese Online Gaming Company

NEW YORK, NY--(Marketwire - Apr 20, 2011) - Elray Resources Inc (OTCBB: ELRA), through its subsidiary Elray Gaming, announced it has entered negotiations to acquire an established online gaming company in Malta for possible entry into European Union (EU) gaming market.

Brian Goodman, CEO of Elray Gaming, commented, "This pending acquisition is a strategic move that will result in Elray Gaming not only obtaining a Malta Gaming License, but will assist in expanding our current gaming operations for possible entry into other EU member states."

Malta is regarded as one of the leading international hubs that regulate remote gaming effectively and responsibly. The online gaming sector in Malta is regulated by the Malta Lotteries and Gaming Authority which governs all remote gaming activities conducted in Malta, ranging from national lotteries to international e-gaming.

The recent FBI shutdown of three major online gaming sites in the USA has resulted in a positive effect for smaller compliant gaming operators, such as Elray Gaming, to gain market share in this market since it complies strictly with the UIGEA (The USA's Unlawful Internet Gambling Enforcement Act of 2006).

Elray Gaming is an operational online gaming company, with gaming brands currently available in English, French, German, Italian, Japanese and Russian.

About Elray Gaming

Elray is an established Global Online Gaming entity which owns and licenses Gaming Intellectual Property, Gaming Domains, Trademarks and Player Databases. Operations are headquartered in Curacao, Netherland Antilles and maintain offices, representatives and support facilities in the United States, United Kingdom, Australia, South Africa, Mauritius, Israel and the Philippines. Elray's business model is to offer Internet Gaming Products to non-US players in jurisdictions where online gaming is permitted.

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.

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