Buying Viva Gaming and Resorts... here is some DD etc:
Shares: 6M O/S
Float: 300K
Stock breaking out today. This on rumors of having a second and third
ship join the fleet of daycruisers... This I am told by the company
will conservatively bring in revs of $12-15M for each boat...
with only one boat this converts to about (at least) $2 per share.
with 2 or 3 boats will be higher... an average multiple of 20... well
you do the math:) Also have some rumored deals with gaming on Indian
Reservations.
see this NR:
CORPUS CHRISTI, Texas, Mar 2, 2000 (BUSINESS WIRE) -- The
commissioners for the Port of Corpus Christi on Wednesday voted
unanimously to approve a five-year lease agreement with Las Vegas-based
Viva Gaming & Resorts, Inc. ("Viva"), covering a six-acre parcel of
land located at Harbor Island. By securing this dock lease, Viva can
now move ahead with its plans to develop and operate "Day Cruise to
Nowhere" sailings, expected to entertain a minimum of 1,500 adult-only
passengers daily.
"We are extremely excited about the opportunity to bring Corpus Christi
and the surrounding area a first-class entertainment and tourist
attraction," stated Marty Gross, Viva's president and CEO. "We expect
to begin our day cruise sailings by Memorial Day weekend. Details of
the planned events surrounding our grand opening will be made public in
the coming weeks. We appreciate the vote of confidence received from
the Port of Corpus Christi and we look forward to making a significant
economic contribution to this beautiful city for years to come."
Initial plans call for the operation of two six-hour cruises per day
from Harbor Island near Port Aransas. Each cruise will take about one
hour to reach international waters. While in international waters,
passengers will have the opportunity to enjoy up to four hours of Las
Vegas-style gaming.
Gaming amenities will include up to 860 slot machines and approximately
50 table games. The slots will be a mix of progressive and multi-coin
machines. Table games will consist of blackjack, roulette, craps and
baccarat as well as several of the new progressive table games. Other
gaming entertainment products, such as keno, video poker, bingo and
lotto will also be featured.
According to Marty Gross, "Gaming is only part of the total
entertainment package we plan to offer our customers on each cruise.
Other attractions will include live music, on-board entertainment acts,
full-service bar areas and dining facilities."
Viva, through a wholly owned subsidiary, is making a major investment
in this day cruise project and is confident of its long-term financial
success for both the City of Corpus Christi as well as for its
corporate shareholders. Investments will be made for infrastructure,
dock improvements, parking, buildings, employee training and
pre-opening marketing expenses.
Viva estimates that the planned project will generate 350 to 500
full-time jobs, with 90 to 95 percent of those employees being from the
Corpus Christi area.
An experienced marine and gaming management team has already been
assembled to operate the project. This specialized management team
includes four key executives -- Captain Timothy Levensaler, director of
marine operations; Andrew Lipman, director of engineering; Andrew Cook,
marine safety specialist; and Charles Fearing, general manager -- all
of whom have extensive operations and management experience in all
aspects of the day cruise gaming industry.
"Corpus Christi, situated on the picturesque Southern Texas Gulf Coast,
is an ideal location for this project. We were attracted to the area
because of its vibrant tourist industry and its close proximity to
large metropolitan areas such as San Antonio, Austin, Laredo and
Houston. The city already attracts more than 5 million tourists each
year. We estimate this unique project will increase the tourism base by
5 to 7 percent annually and further enhance Corpus Christi's
international image as a major destination resort."
Viva Gaming & Resorts (OTCBB:VIGA) is a Las Vegas-based gaming
development company, actively engaged in the business of operating,
developing and/or acquiring casino properties and related gaming assets
in niche markets worldwide.
Do your own DD...
Tom |
