Elray Gaming, which is a subsidiary of Elray Resources Limited, has acquired another round of interest in the Golden Galaxy casino. This move will further increase the stake of Elray by 23% to take it to a total of 48%
It should be noted that the company acquired 25% of the stake earlier in September 2014. The company made an initial agreement with the Playtech powered online betting platform that it would continue to increase its stake based on the performance of Golden Galaxy.
Rise of the Golden Galaxy Casino
The last year has witnessed increased popularity and web traffic for Golden Galaxy. In the last four quarters, the company has made an impressive $8.7 million combining all its operations across the globe.
Experts suggest that this is a tactical move by Elray. This is a gaming strategy through which the company will issue series C stock with a 24 month lock in for conversion. The company will conclude it by showing it as pre-defined profit as part of its benchmark.
Elray signed a 12 month agreement with Golden Galaxy earlier and finalised a reseller agreement. This helped the company include various games in its product portfolio including casino, slot, sports betting and poker in the Asian market.
Brian Goodman, CEO, Elray commented on the deal saying that this acquisition is extremely valuable and that Global Galaxy has exceeded the expectation of many analysts in the market.
It has outperformed many online slot players in the market. He also added that the revenue of the company has increased by 113% in December. The gaming income of the company has gone up to 65% compared to last November.
These are extremely impressive figures. The CEO further explained that Elray will keep adding money making gaming platforms such as Golden Galaxy to their portfolio. This will ensure that the company benefits in the long term by increasing profit and reducing their debt.
About Golden Galaxy Casino
Golden Galaxy has over 250 games in its portfolio including slots like Dolphin Reef, table games, poker, scratch and sports betting.
According to the last count, the company has 24,268 players in its kitty. Licensed in Curacao, Golden Galaxy had a dream run till last year when it acquired revenue over eight million in a single financial year.
With the recent acquisition, the company will surely keep improving its product portfolio to increase the number of registered users. Offerings such as welcome bonus, free spins and more such promotions will also be improved.