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INTERNET GAMBLING OPERATOR IN MERGER
Posted 2/27/11 : Brian Goodman involved in reverse merger
Australian online gambling operator Brian Goodman is involved in a reverse merger which took place this week between Splitrock Ventures Limited and the New York-based Elray Resources Inc.
Elray informed the stock exchange that it had acquired 100 percent of the issued and outstanding shares of Splitrock Ventures, Ltd., an online gaming company.
In the acquisition agreement, Goodman acquired a total of 600,000,000 shares of the company’s common stock. As a result, the company experienced a change in control under which 91.3 percent of the shares of the company are now held by Goodman.
The new company would have around 650 million shares issued outstanding, but the public float would remain at around 25 million or so, Elray announced.
Splitrock Ventures Limited is engaged in the online casino gambling business, including the operation of the Sierra Casino.com, Knuts Poker.com and Lucky Lucy Bingo.com sites.
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Gambling News :
Pokerstars Bahamas Main and High Roller Results -
The inaugural PokerStars Championship Bahamas saw two big winners crowned this weekend when Christian Harder won the main event for $429,664 and Luc Greenwood took home $779,268 after taking down the $25,750 High Roller event.
High Hopes For Pennsylvania Online Gambling -
Pennsylvania state politicians have wasted no time in getting back to work in the new legislative season, and there is renewed hope for a gambling expansion bill that includes online gambling and daily fantasy sports.
NJ Warns No Federal Online Gambling Ban -
New Jersey Senator and gubernatorial candidate Raymond Lesniak warned that any attempt to overturn a 2011 Department of Justice opinion that the federal Wire Act exclusively governs sports betting would be met with a hard-nosed reaction from his state.
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