ELRA to launch bitcoin casino, target $0.20
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Wall Street Newscast Traders Newsletter ~~~~~~~~~~~~~~~~~~~~~~~~~~
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ELRA to Develop `Bitcoin` Casino, Upgraded to $0.20 Per Share (NEW YORK)–Elray Gaming, Inc. (OTC:ELRA), a provider of online and mobile gaming turnkey solution subsidiary, signs licensing agreement for virtual horse racing platform, and developing online `butcoin` casino.
ELRA Highlights – To Develop Bitcoin Casino – Developing Virtual Horse Racing Platform – Launched their First Online Casino – Operating Binary Option Platform – Online Gambling in Strong Demand – 24 Million Shares Outstanding – Market Cap only $480,000 Developing Bitcoin Casino The Company is in process of developing a online casino utilizing the new virtual online currency Bitcoin. Although still in the beta test phase, an online casino utilizing Bitcoin as a form of currency would make ELRA a special play within the gaming sector. To show the potential within this sector, SatoshiDice, a Bitcoin dice gaming site, was recently acquired for a value of $11.5 million.
Virtual Horse Racing Platform Elray Gaming entered into an agreement with Virtual Technology Group, LLC to assist in developing, marketing, and supporting their technology of a virtual online horse racing products. The horse racing platform will have three options which include fixed odds, sliding fixed odds and pari-mutuel, which enables worldwide deployment with regional preferences.
Each engine calculates the payout based on the engine rule set and odds calculated by the virtual world system. Betting can be accepted as soon as the race is posted, generally 3 days in advance. All betting is closed 10 sec prior to race start when the system calculate the rendering files and sends the animation file to the viewer for the running of the race. This prevents tampering with the odds and payouts.
This method offers the greatest security against any players or bots trying the “beat” the game. The system tracks every bet transaction for each user in “cash” or “play for fun” mode that can be viewed by the player from the web page, or by the operators from the call center module.
Video demo – http://www.youtube.com/watchv=buat30GeYnE Binary Option Platform In addition to their new Golden Galaxy online casino, the company also operates their own binary options trading platform called Golden Matrix Binary. This now gives ELRA two live and operating gaming platforms, and makes it a active player in the online gaming sector.
A video of their binary option trading platform can be viewed at http://www.youtube.com/watchv=TCPLTFmpWp0 $0.20 Price Target As of Oct. 2013, the Company had approximately 24 million common shares issued and outstanding. The stock chart shows very oversold indicators and thus may offer a great entry point at current levels with the stock trading at a market cap of only $480,000.
Now that Elray Gaming has settled its long outstanding lawsuit, the Company is anticipated to roll out its gaming projects aggressively into such markets as Asia. With just 24 million shares outstanding, a price of $0.20 would still only equate to a $4.8 million market cap, when compared to others in this sector we feel is fair and justifiable.
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This investor presentation may include statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
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