More OAIS tidbits from ARET board(another boiling pot), courtesy of the following
To: Mr. Jens Tingleff (6135 )
From: Wednesday, Apr 21 1999 7:15AM ET
Reply # of 6161
I'm not sure how ARET ties into OAIS. OAIS has a lot going on. I Copied the following from the executive summary on www.investorsource.com for Oasis Resorts:
Executive Summary - Oasis Resorts International, Inc.
Introduction
Oasis Resorts International, Inc., ("Oasis") is a U.S. publicly-held company: it
was originally incorporated in Kansas and became public in 1979. In
September 1998, Oasis reincorporated in Nevada. In October 1998, NuOasis
Resorts, inc. ("NuOasis") recapitalized Oasis and became its largest
shareholder by transferring to Oasis all of NuOasis' international hotel and
casino projects in exchange for Oasis stock, notes and warrants.
Through its subsidiaries Oasis now develops, owns, leases, manages and
operates hotels, gaming casinos and related operations worldwide.
Cleopatra Palace Resorts and Casinos Limited ("CPR") is a U.K. company
and the 75% owned Oasis subsidiary is engaged in the operation, ownership
and management of "Cleopatra Palace" –themed hotels and casino gaming
properties in Europe and North Africa.
NuOasis Resorts & Casinos N.V. ("NuOasis N.V."), an 80% owned
subsidiary of Oasis, is engaged in the acquisition, development, operation and
management of the Company's "Oasis"-themed properties. At the present time
NuOasis N.V. has agreements to purchase and is in negotiations to acquire,
develop and/or manage three "Oasis"-themed gaming properties. One hotel
and casino property is to be re-themed and renovated along the "Oasis"
theme.
Oasis' business strategy is to obtain management contracts on or acquire,
renovate and re-brand (and reposition with casino and/or "sportsbook" and
Internet-based gaming where possible) upscale and luxury hotels and resort
projects in growth-stage vacation markets in the Mediterranean, Caribbean,
South Pacific (including certain Asian Markets and Pacific rim islands) and the
United States.
Oasis currently has two (2) properties open under its "Cleopatra"-theme in the
Mediterranean area –one 5-star resort hotel and a 40,000 square-foot Las
Vegas-style casino: it has six (6) other properties in letters of intent or definitive
contract stage to purchase or develop.
The Casino Cleopatra Hammamet is a 40,000 square foot Las Vegas-style
casino constructed in a Mediterranean motif. The hotel is a subsidiary of
Occidental Hotels and is operated by Occidental Hotels along with
approximately 100 4 and 5-Star Hotels around the world. The hotel and
casino are located 45 miles south of Tunis on a four-mile beachfront
destination resort area. The popularity of the location is exemplified by the 25
existing hotels and another 45 under construction within the area. Casino
Cleopatra Hammamet recently obtained governmental permission to pay the
"junket operators" in order to be included on the operators' tour circuit. The
"junkets" are the road to profitability for the casinos in this area, as the
professional tour operators bring in groups of "high-roller" gamblers. The
Cleopatra Hammamet is on projection to generate profits this year, according
to Gabriel Taborani, President.
The Cap Gammarth Resort is a $110 million resort complex containing the
320-room 5-Star Le Palace Hotel, a 54-unit commercial shopping and
restaurant arcade, a 40,000 square foot beach club, a health club and spa,
250 apartments which are being sold as condos and a 200,000 square foot
Las Vegas-style casino and showroom. This property is the largest of Oasis'
foreign hotel/casino complexes and could easily be classified a destination
resort.
During the first 12 months of operation, hotel revenues were approximately$3
million with a net income of approximately $135,000, while only averaging an
18% occupancy rate. Their second year, the average daily occupancy rate
rose to 38% and the hotel is on projection to achieve annual occupancy of
67% for this year. If they succeed in achieving only 67%, the resulting
revenues would be over $15 million with net profits of $6 million per year.
The Casino Cleopatra Cap Gammarth is ready to open, except for the
furnishing of the casino gaming equipment and furniture and training of the
employees. This casino has approximately 60,000 square feet of gaming
space with the balance of the building devoted to an 850 seat Las Vegas-style
showroom, retail shops, coffee shop and separate cocktail bar and lounge.
When opened, the casino will house 320 slot machines and 32 gaming tables.
The casino also contains a 5,000 square foot VIP Room with its own private
elevator to subterranean parking.
The Cleopatra Palace Resort - Monastir is currently operating as the "Jockey
Club" and "Palm Garden". Oasis has been offered the leases on both of these
properties, which when combined, would total over 330 rooms, 4 restaurants,
5 bars and a night club, along with a beauty parlor, bridge and conference
rooms, 5 tennis courts, 2 swimming pools and a beautiful beach, on 20 acres
of palm trees and sand.
Oasis is also in negotiations to acquire existing 5-Star Resort and hotel/casino
properties in Spain, Curacao, Aruba and Korea. Recently, two troubled
casinos became available in the center of Atlantic City's famous Boardwalk.
The historical annual net cash flow of both properties has been in the range of
$25 million in 1997 and 1998.
As they review and work these properties, Oasis is also looking at properties
in England, Europe and Costa Rica.
Conclusion
Oasis' core business of supplying casinos and resort properties with the very
things that are the most expensive to maintain and budget for is a key to their
success. They have an established link of suppliers and purveyors,
craftsmen, workers, service people and a vast resource of contacts to pull
from, that the single casino owner could not hope to match.
On April 1, 1999, Oasis' Cleopatra Palace Resorts and Casinos announced a
$100 million commitment from Morgan Weinstein & Co. The four million per
month will allow the company to complete its plans for the Hotel Le Palace
acquisition and Cap Gammarth Casino property activities.
On April 7, 1999, the company announced an agreement with Winter De La
Mare to design an $80 million destination resort in Nevada.
Oasis trades on the OTCBB under the symbol OAIS, and is a fully reporting
company. Its stock was trading at 1.156 by 1.375 on April 7, 1999.
If you would like to request a prospectus or talk to someone on the phone,
please contact them at:
Oasis Resorts International, Inc.
4695 MacArthur Court - Suite 530
Newport Beach, California 92660
TEL: (949) 833-5381 (Ext. 723) - FAX - (949) 833-7854
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