Elray and Playtech Bring Gaming to Asia

Elray Gaming has signed a resale agreement with Playtech which will bring Playtech's gaming technology to Asia on a large scale.

Playtech Offerings Coming to Asia

Moorgate Commercial brokered the deal, a master software agreement which also enables leading gaming consultancy Elray to access the full range of gaming products offered on the Playtech platform.

Elray will extend Playtech's gaming offerings deep into Elray's prominent territories in

Asia so that the regional market will now enjoy the full range of Playtech's offerings, which include sports betting, casino and poker. Playtech, Elray and Moorgate are further expected to continue to work closely in consultation to implement the deal as effectively as possible and grow online gaming across the continent.

Elray's limited gaming offerings to date in the Asian market and its other markets included a virtual horse racing product acquired in April as well as a casino management solution and a trademarked binary for its trading platform.

Ongoing Cooperation

The two companies are no strangers, as they worked together previously and recently on a consulting contract in a 12-month agreement from June 2013-14 supporting Golden Galaxy, one of Playtech's online casinos.

Founded in February 2011, Elray is led by an Australian chief executive, Brian Goodman, but also maintains offices in New York and London.

The current resale agreement with Playtech is just one component of Elray's current expansion strategy, with rumours swirling of a potential acquisition by Elray of an existing online casino, with experts hinting at Golden Galaxy as that acquisition.

Revenue Needs for Elray

The main benefit of the deal for Elray would be a revenue boost into the black to offset early losses, including the $1.7 million loss the consultancy posted for the six month financial period ending June 30, 2014. In a beta type phase, the company brought in just $75,000, with total operating expenses topping out at $1.8m. The reseller agreement with Playtech may be just the solution to get through the growing pains as quickly as possible.