Elray Gaming in negotiations to acquire Maltese online gaming company

NEW YORK, NY -- (PRESS RELEASE) -- 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.