Crypto gaming technology developer Elray Resources has unveiled a strategic joint venture with Kings of Sport (KOS) to launch the Kings of Sport Casino, licensed in Curacao and expected to operate globally in 15 countries.
The casino will incorporate Elray’s crypto casino, sports betting technology and gaming content to provide a single wallet solution for customers to utilize crypto and traditional currencies in sportsbook markets and online casinos.
“This collaboration not only offers an immersive gaming experience to members of KOS’ vast sports and entertainment network but also creates a platform to build brand recognition in untapped markets, facilitated by partnerships with prominent sports franchises and global brands,” the companies said.
The joint venture between Elray and Kings of Sport is positioned to capitalize on the swelling demand for crypto casinos. The allure of cryptocurrencies, coupled with heightened security measures and the appeal of decentralized financial transactions, has contributed to the exponential growth of this market.
Elray Resources and Kings of Sport Announce Strategic Joint Venture to Launch Kings of Sport Casino#Elray $Elra #Crypto #casino #jointventurehttps://t.co/Hm4WMr7aBU pic.twitter.com/J4RBMdEGjH
— Elray Gaming (ELRA) (@ELRA_Official) November 28, 2023 Reports from Allied Market Research suggest that the global blockchain in gaming market soared to $4.9 billion in 2022. Additionally, MarketWatch forecasts steady growth in the casinos market, projecting an increase from $157.5 billion in 2022 to an estimated $224.1 billion by 2030, indicating a notable compound annual growth rate (CAGR) of 4.5% during this period.
“The joint venture with Kings of Sport reflects Elray’s commitment to being at the forefront of technological advancements in the gaming industry and capitalizing on the tremendous potential offered by the intersection of crypto and online casinos,” a press statement reads.
“In partnering with KOS, it also gives Elray extensive opportunities to build its brand recognition in new markets and gain access to high-level sports franchises and global brands.”
Elray Resources owns blockchain/crypto gaming technology, providing services to online crypto casinos and crypto gaming technology operators.