Elray Resources acquires crypto casino technology from Luxor
Elray Resources, a newly established player in the gambling industry, has announced a strategic acquisition of online casino cryptocurrency technology from Luxor Capital, marking a significant milestone in its mission to innovate within the crypto gaming sector.
While financial details of the acquisition remain undisclosed, Elray Resources, which emerged earlier this year as a public entity trading over-the-counter, is poised to leverage this cutting-edge technology to develop and provide state-of-the-art crypto solutions for online gaming operators.
The foundational technology for this initiative is known as the Elray Blockchain System (EBS), slated for launch in the upcoming months, and it aims to revolutionize how online casinos operate in the crypto domain.
Exclusive Agreement with Golden Matrix Group
Further underscoring its strategic expansion, Elray Resources has secured an exclusive distribution agreement with Golden Matrix Group, a respected supplier of virtual gaming content. Under this partnership, Elray will acquire all gaming content tailored for cryptocurrency operators from Golden Matrix.
The integration of B2B online crypto casino systems and technology from the Elray Gaming division will now feature exclusively curated content from Golden Matrix, enhancing the gaming experience for crypto operators.
Cathy Feng, Chief Financial Officer of Golden Matrix, expressed optimistic views regarding the burgeoning sector of crypto gambling. Despite the company’s decision to sell the division specializing in cryptocurrency, Feng underscored the transformative potential of Bitcoin casinos within the broader online gambling landscape.
“Bitcoin casinos represent one of the latest trends in the online gambling industry, poised to redefine the future of gaming as we know it,” Feng stated. “Crypto casinos offer distinct advantages over traditional models, including expedited payment processing, heightened security, and enhanced transparency.”
According to recent industry statistics, the popularity of Bitcoin gambling is surging, with numerous leading crypto casinos boasting hundreds of thousands of active players from diverse global locations. The escalating interest in cryptocurrency among players is propelled by the myriad benefits it offers, suggesting a robust future for this segment of the gambling market.
As Elray Resources prepares to roll out its blockchain technology and strengthen its position within the cryptocurrency space, industry observers will be eager to see how these developments will shape the gaming sector in the months and years to come.
