Elray 25% acquisition in Asialink mirrors its 25% stake in Golden Galaxy Casino
AsiaLink and Elray gaming will now join forces to enhance the gaming operations of the latter. Elray has acquired 25% of the marketing company, based in Hong Kong. Elray gaming is owned by RTG operator, Brian Goodman. It is based in the US and operates under US gambling laws even if it has a global presence with offices in London, South Africa, Sydney and Curacao.
The online gambling group did not reveal the amount of the cost of the acquisition but the purchase has been on the Preferred Series C stock with a 24 month restriction on conversion. Apart from the 25% acquired, Elray can get additional percentages if AsiaLink manages to obtain more profit milestones.
Asialink will bring additional technology expertise to Elray to boost revenues
The specialist gaming company, AsiaLink, employs over 30 staff members currently and generates over $260 million in bets, on a monthly basis. Goodman said the merger would allow customers to benefit from a 24/7 support service and that Elray would now be able to continue expansion of its Casino management services across Asia, Africa and Europe.
Other benefits brought on by the acquisition is the formation of a development team which boasts its expertise in technology in mobile betting as well as an active marketing team. Elray hopes to attract more players from Asia as well it envisages an increase in revenues, as a result of the deal.
Earlier this month Elray boosted its 25 % shares in the Playtech powered Golden-Galaxy online casino by 23 %. Now it has 48% of total holdings in the company . Thus, the interest in AsiaLink – Elray deal is also to increase the production of revenue for Elray Gaming and to add value to the company overall.