Guess you have to read the news.........
ALL ABOARD! ... 'THE CASINO TRAIN TO VEGAS'
LAS VEGAS COMPANY ANNOUNCES ACQUISITION OF 80 ROOM Train Hotel/Entertainment Complex; Unveils Plans for Casino Train Rides in Las Vegas
LAS VEGAS, Aug 30, 1999 /PRNewswire via COMTEX/ -- Sinclare Group,
Inc. (OTC Bulletin Board: SNCG), announced today the acquisition of
Primm Valley Transit Authority, Inc. (PVT). PVT was founded last year
by Larry Stockett to provide passenger/entertainment train service from Primm, NV (near the Nevada/California state line) to Las Vegas,
Henderson, Caliente, NV and Boulder City.
PVT plans to contract with Amtrak to pull 12 high speed Talgo passenger cars over the existing Union Pacific railroad line using Amtrak locomotives and engineers. PVT would provide all marketing, ticketing, food and beverage service, train station operations. The train manufacturer, Talgo will provide train maintenance.
Participating casino operators will provide all gaming equipment, operators, supervisors, and surveillance personnel and equipment
According to Company President, Larry Stockett, PVT has proposed
leasing the old Amtrak Station at the Plaza Hotel in Las Vegas because it can be operational before the end of the year. It also has proposed to have train stops at:
1) Primm, near the Primm Airport or Primm Valley Resort
2) Las Vegas at the Rio Hotel.
3) Henderson, near the Reserve Hotel and at Railroad Pass Hotel and Casino
4) Caliente, approximately 100 miles north of Las Vegas
and
5) Boulder City, at the State of Nevada Train Museum.
The time frame for adding each train stop will depend on obtaining
agreements with the land owners, necessary building and operating
permits, and the construction periods necessary to construct the train stop platforms. The company must also obtain permission of the railroad right of way owners including the Union Pacific RR, the City of Henderson, and the State of Nevada.
The company has commenced discussions with several casinos and gaming
companies and proposed to refurbish train cars into casino cars and
lease them to the casinos. Each casino would enter into an operating
agreement with PVT and seek their own approval from the Gaming
Commission to offer gaming on their leased train cars. While gaming has been allowed on moving vehicles such as river boats on the Mississippi river, Stockett believes his train rides, if approved, would be the first to offer legalized gambling in the U.S.
PVT recently purchased selected assets of a railroad entertainment
complex in WilkesBarre, PA., known as Market Street Square Station. The assets include the right to replicate or relocate in Las Vegas the historic train station built in 1868, and to relocate the train
hotel/entertainment complex consisting of over 50 train cars including the historic Flagler Car to Las Vegas. Forty of the train cars have been used as stationary hotel rooms with two rooms per car, while others have been used as bar, lounge, dance, and dinner cars.
According to Stockett, the 40 hotel train cars purchased by Sinclare
Group and the historic train station and additional cars has an
appraisal value of $6.9 million based upon a 1989 appraisal, which is
currently being updated. The Talgo 12 car high speed train set will be leased with a purchase option price of $8 million.
Sinclare Group, Inc., was a publicly traded shell corporation trading
at $.01 per share prior to the acquisitions. "When people realize that I have vended millions of dollars of assets into a penny stock shell corporation, I believe the market reaction will cause the stock to appreciate rapidly," Stockett said. "Where else but Las Vegas can you bet a penny a share on a start up company and have the potential to make a few bucks a share?" added Stockett. It's hard for any stock to get much lower than a penny a share, so according to Stockett the only direction his train business can take his stock is up. "Those who get in early on the stock will have the best ride."
Anyone who needs a hotel room in Vegas for the "Millennium Celebration" should make their reservations now. The train rooms will normally rent or about $100 per night. Millennium week prices, however, will range from $500 per room for one bedroom train cars, to $2,000 for the six bed historic Flagler train car.
The Flagler Car was built in 1968 and is the sister car to the Flagler Car located in the Flagler Museum in West Palm Beach, Florida. Henry Morrison Flagler was one of the wealthiest men in the world in the late 1800s. He was the co-founder of Standard Oil of Ohio with John D. Rockefeller and built numerous hotels in Florida. He owned the Florida East Coast Railway. Stockett recently visited the Flagler Museum to assure that any restoration of the Flagler Car will include a historically accurate restoration and actual antiques, photos, dinner service, and other train memorabilia which are authentic to the Florida East Coast Railway.
Stockett is a high tech computer pioneer who invented the first
portable computer in the 1960s, published the first software
directories in the 1980s, opened the first paperless office at the
Watergate in Washington, D.C., in 1978 and launched the first coast to coast fiber optics service in the 1980s. Stockett loves to be first at whatever he does.
Photos of the train cars along with Stockett's credentials and his
entire rail strategy can be seen on the Internet at uscement.com. Reservations for Stockett's Millennium party can be made by email addressed to larry@uscement.com. For more information contact the company at (702) 369-2126.
John :-)
ps: Also check out related stock: HTEH (same CEO) |
