Elray Resources is a developer and licensor of online gaming technology and has now announced that it has acquired Online Casino Crypto Technology, from Luxor Capital LLC.
This technology will enable Elray to supply full turnkey Crypto Technology systems to online crypto gaming operators. Expected to launch in the coming months, the crypto platform will go under the name Elray Blockchain Systems (EBS).
Elray Gaming CEO Cathy Feng said: "Bitcoin casinos are now one of the latest trends in the online gambling industry and they will shape the future of online gambling as we know it.
"Crypto Casinos have many advantages over traditional casinos, such as faster payments, improved security, and better transparency. Some of the best Bitcoin casinos on the market already have hundreds of thousands of active players hailing from all corners of the world."
According to MBN Market Business News, the global crypto-gambling industry is predicted to reach $93bn by 2024.
Feng added: "The latest Bitcoin gambling statistics show that the interest in crypto gambling is on the rise as players continue to choose cryptocurrencies for the many advantages that they offer."
Elray Resources also announced that the company has entered into an exclusive distribution agreement with Golden Matrix Group where it will procure all of its gaming content for crypto operators from Golden Matrix.
Golden Matrix Group Inc. CEO Anthony Brian Goodman added: "Online entertainment and virtual currency have become particularly aligned in recent years.
"These blockchain, digital concepts have created a unique way of generating profit in the form of online gambling casinos. The exclusive distribution agreement reached between Golden Matrix and Elray is expected to generate sizable revenues for Golden Matrix over time."
The Golden Matrix Group is based in Las Vegas, Nevada, and recently launched a licensed proprietary B2C online casino in Mexico.
