(MENAFN- GlobeNewsWire - Nasdaq) LAS VEGAS, NV, Nov. 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWir -- Elray Resources Inc. (OTCPK: ELRA ), a developer and licensor of online crypto gaming technology and systems, today announced it has entered into a strategic joint venture with Kings of Sport (KOS) to launch the Kings of Sport Casino , licensed in Curacao and expected to operate globally in 15 countries.
The Casino will incorporate Elray's innovative crypto casino, sports betting technology and exciting gaming content to provide a single wallet solution for customers to utilize crypto and traditional currencies in sportsbook markets and online casinos. This collaboration not only offers an immersive gaming experience to members of KOS' vast sports and entertainment network, but also creates a platform to build brand recognition in untapped markets, facilitated by partnerships with prominent sports franchises and global brands.
The crypto casino market is witnessing exponential growth, driven by factors such as increased acceptance of cryptocurrencies, heightened security measures, and the growing demand for decentralized financial transactions. According to Allied Market Research ,“The global blockchain in gaming market size was valued at $4.9 billion in 2022; and
MarketWatch reported that“the global casinos market, valued at US$157.5 billion in 2022, is expected to grow to US$224.1 billion by 2030, with a steady CAGR of 4.5% during the period from 2022 to 2030.”
The joint venture with Kings of Sport reflects Elray's commitment to being at the forefront of technological advancements in the gaming industry and capitalizing on the tremendous potential offered by the intersection of crypto and online casinos. In partnering with KOS, it also gives Elray extensive opportunities to build its brand recognition in new markets and gain access to high-level sports franchises and global brands.
Elray Resources Inc. owns Blockchain/Crypto gaming technology and provides online crypto casinos and crypto gaming technology to online crypto casino operators.
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Contact: Vincent Cai
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