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Elray Gaming acquires Golden Galaxy Casino

24th September 2014 6:33 am GMT

Gambling consultancy Elray Gaming has followed up its deal to resell and operate Playtech’s software in the Asian gambling market with the acquisition of Golden Galaxy Casino.

Elray has agreed to acquire an initial 25 per cent stake in Golden Galaxy for an undisclosed sum, with the option to increase its shareholding based on the company's future performance.

In consideration of the purchase, Elray will issue preferred series C stock with a 24-month restriction on conversion.

Since July [...]

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