Rep. Barton: Poker Bill Possible this Congressional Term (ELRA BYD MGM)
By: staff reporter, John Bodger
Last Updated: Dec. 06, 2011 - 12:45pm EST

(NEW YORK) --An online poker bill out of the US Congress could send Elray Gaming, Inc, an online gaming company which is traded under the name Elray Resources, Inc (OTC:ELRA), higher as investors seek out plays that could benefit from any change in US gaming laws.

Rep. Joe Barton (R-TX), whose proposed bill to legalize online poker which is currently before Congress, is optimistic that some form of internet poker legislation can be approved during this term in office. Rep. Barton recently commented, “Our whole strategy is to get something on the president’s desk this Congress, so we have 13 months to go”.

This news should have a very positive effect on casino, gaming, and online poker stocks as this news progresses from committee to the floor of Congress.

Online Gaming Stocks

When looking how to play possible legalization of online poker the obvious large cap plays come to mind, such as MGM Resorts International (NYSE:MGM) and Boyd Gaming Corp. (NYSE:BYD).

Small Cap Online Gaming Play

For the more aggressive investor, one may want to take a look at Elray Gaming, Inc, an online gaming company which is traded under the name Elray Resources, Inc (OTC:ELRA). Although speculative, stocks such as these would have large upside potential on any news that the US Congress may legalize online poker. At a current price of only $0.005 ELRA may see it retest its March 2011 highs of around $0.07 per share, which would equate to nearly 1000% return from its current levels.

ELRA Forex Trading

Elray Gaming, a pure play online gambling turn-key stock, is also expected to expand its online gaming portfolio to now cover online Forex trading under its international footprint. In addition to its online casinos, and poker websites, Elray Gaming will expand its operations into currency trading, which trades around $4 trillion each day world-wide.

As currencies fluctuate wildly on news out of Europe, US, and Japan, traders are finding big gains trading through the Forex market, and Elray Gaming will explore how to harvest this growing market. Areas to be explored are online Forex trading, turn-key platform solutions, and managed Forex accounts for institutional investors.

Mobile Apps and Social Networking

In addition, the Company is expected to develop, and or acquire, a basket of mobile applications and social networking sites focused on gaming, and fantasy sports area to broaden their investment portfolio. Information on these new ventures are expected to be released from the company in the coming weeks.

About Elray Gaming

Elray is an established Global Online Gaming entity which owns and licenses Gaming Intellectual Property, Gaming Domains, Trademarks and Player Databases. Operations are headquartered in Curacao, Netherland Antilles and maintain offices, representatives and support facilities in the United States, United Kingdom, Australia, South Africa, Mauritius, Israel and the Philippines. Elray's business model is to offer Internet Gaming Products to non-US players in jurisdictions where online gaming is permitted. www.elraygaming.com

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