The stock market reaction to the Department of Justice clarification of the Wire Act 1961 seems obvious. For those who have gone ahead and put their money into online gambling firms that may benefit from the legalization of American internet gambling it may be a sure thing but not in the short run. Predictors are of the opinion that with the US presidential election looming there isn’t much of a chance of legislation being passed in the coming year. Although the market has been shredded in the States there are positive things going on in other parts of the world. Latin America and Asia are poised as new market venues with huge potential. Cracking those markets will be challenging even for the biggest online gambling operators.
Small companies that are innovating and pushing forward in those jurisdictions may have a better chance of seeing profits and growth. Recent news published in the Hot Stocked penny stock online directory mentions Elray Resources Inc. and its rise in value after the Department of Justice’s timely announcement setting the stage for intrastate legal online gambling.
Elray Gaming provides consulting, marketing, media buying, management, and operation services to the online gaming industry. The company’s services include business and marketing consulting, gaming site and service brokerage, turnkey solutions, player retention, online media buying, campaign management, return on investment analysis, and Internet promotion. It also owns and licenses gaming intellectual properties, gaming domains, trademarks, and player databases. The company was founded in 2004 and is based in the United States with additional offices in Sydney, New York, London, and Curacao, as well as offices, representatives, and support facilities in the United States, the United Kingdom, Australia, South Africa, Mauritius, Israel, and the Philippines. Elray Gaming operates as a subsidiary of Elray Resources, Inc.
A relatively small company gaining a significant percentage has potential investors looking for more bargains. Elray is turning out to be one of them at least in the short term.