Online gambling group buys 25 percent share in AsiaLink.
Elray Gaming, the online gambling group founded by former RTG operator Brian Goodman, has announced the acquisition of a 25 percent share in Hong Kong customer service and marketing company AsiaLink for a consideration of an unspecified amount of Preferred Series C stock with a 24 month restriction on conversion.
AsiaLink is a specialist gaming company with over 30 experienced staff, and currently claims to generate over 1.63 Billion RMB in wagering every month ($260 Million).
Goodman noted this week that the deal will provide 24×7 customer support, an experienced technology development team and an active marketing team that will result in revenues and additional Asian players for Elray.
"The acquisition will ensure that Elray maintains its growth in this region, and the interest in AsiaLink will generate valuable revenue for Elray Gaming and add value to the company as a whole," Goodman claimed.
Elray will initially acquire a 25 percent stake in AsiaLink with options to acquire additional percentages based on AsiaLink achieving profit milestones.
Earlier this month Elray boosted its 25 percent shareholding in the Playtech-powered Golden Galaxy online casino by 23 percent, bringing its total holding in the company to 48 percent.