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Gambling.co.uk: Gambling News Archive

Elray projecting gaming proceeds to treble

Online gaming operator is predicting $6.5 million in gross revenues for 2011 alongside $1.1 million in net income.

Wednesday 30th March 2011



Global investment firm Elray Resources Incorporated has released a financial guidance report for its Elray Gaming subsidiary showing that it expects the online gaming business to report total gaming proceeds for 2011 of $100 million. Elray purchased online gaming operator Splitrock Ventures BVI in late-February and now operates sites including SierraStarCasino.com, MajesticComet.com and LuckyLucyBingo.com and revealed that it would recognise $6.5 million in gross revenues for 2011 alongside $1.1 million in net income. For 2012, Elray stated that it is projecting total gaming proceeds to increase to $320 million alongside $8.8 million in gross revenues and $3.4 million in net income. “These projections do not take into account any new acquisitions or gaming products launched by the company during this time period,” read a statement from Elray. “Investors are advised that these are projections and, in such, final results may differ greatly based on operational events and risks.”




Source: OnlineCasinoNews

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