Andros Hotels & Casinos Acquires The Margaritaville
Hotel and Internet Casino For $2,500,000 in Stock; Signs
Agreement With Net World Marketing for Internet Hotel
Reservations Systems, Marketing and Advertising Services
PR Newswire - June 30, 1999 06:13
WICHITA, Kan., June 30 /PRNewswire/ -- Andros Hotels & Casinos, Inc. (OTC Bulletin Board:
ADHCE) announced today that it has agreed to acquire the Margaritaville Hotel and an internet
casino from Go Call, Inc. (OTC Bulletin Board: GOCA), Ontario, Canada. The Company said the
Margaritaville Hotel is located in the City of Sosua in the Dominican Republic, deep in the heart of
the tropical Caribbean. Andros said the purchase price of $2,500,000 is being paid for with two
convertible debentures for $1,250,000 each, with the first debenture convertible in all or part, into
8,928,571 restricted common shares of Andros Hotels & Casinos, Inc. and with the second
debenture convertible all or in part into 208,333 restricted common shares of AutoAuction.com, Inc.
owned by Andros. Both debentures are convertible, at option of Go Call, Inc., until June 15, 2001.
The Company said it had the option of paying cash for all or part of the debentures prior to
December 31, 1999 should it elect to do so.
The Company said the Margaritaville Hotel is an exclusive "destination" hotel and resort and it is the
Dominican Republic's "diamond in the rough" tropical alternative to large resort vacationing. Peace,
tranquility, white-sand beaches and relaxation are the key elements to Margaritaville. Convenient to
all activities, Margaritaville is a great starting point for island adventures. Fanned by refreshing trade
winds, this charming and intimate hotel welcomes singles, couples and adult families, 16 years and
over.
Margaritaville offers horse back riding on the beach, tours of world-famous cigar factories, mountain
trail horse back riding, sailing, scuba diving, ocean snorkeling and swimming and various popular
water sports. Margaritaville is located in the town of Sosua, just a little more than a seashell's throw
to the beach and just 10 minutes from the Puerto Plata International Airport, about a two-hour flight
from Miami on American Airlines. Margaritaville is an exclusive 21-room resort with seven large,
ground level studios and 14 junior suites with semi-private sun decks.
In addition to the 21 guest rooms, Margaritaville offers the "Parrothead Bar & Grill," a lounge with
satellite television, a swimming pool with a small bar and a streetside bar called "GoNuts." In its
Parrothead Bar & Grill, an international menu, created by Ken Brenner, features cuisine such as
savoury curry dishes, various seafoods, layered beef lasagne, crepes, gourmet sandwiches, grilled
steak, crusted lamb chops and shepherd's pie. Internet access is available on the premises. The Hotel
staff includes five full-time employees, including a manager, a gourmet chef, a housekeeper, a
maintenance man, a gardener, and two part-time bartenders.
Andros Hotels & Casinos, Inc., said it is also purchasing an internet casino licensed exclusively by the
Dominican Republic government. The Company said the internet casino will change its name to
"Margaritaville Casino" and will offer a full range of casino gaming over the Internet including
blackjack, slot machines, poker, and craps.
The Margaritaville Casino will be open 24 hours a day, 7 days a week, 365 days a year. The
Margaritaville Casino, a Las Vegas style theme casino, is equipped with the latest 3-D technology,
including state-of-the-art interactive multimedia software, graphics, and animation. There will be 19
internationally appealing casino games in several languages and reliable technical support 24 hours a
day.
Margaritaville Casino will accept, process and manage all wagers through Go Cash, a sophisticated
and secure on-line transaction system which allows players the use of Visa, MasterCard, and
American Express credit cards. The Company said its casino transactions will be carried over the
latest secure line technology and on-line banking systems, such as Go Call Cash, Cyber-Cash or
E-Cash.
At the Margaritaville Casino Individual visitors may play for real money or just for entertainment. The
Company said it may also publish a Gambling news magazine and operate a gift shop on the Internet.
The Company said it is currently exploring relationships with existing conventional casinos and bingo
parlors and others wishing to create a "cyber" extension of their real activities. Exploration is also
underway with investment groups, Internet commerce businesses and private corporations wishing to
draw customers to their web sites via non-gambling, entertainment only games to showcase their
products or line of services.
Andros Hotels & Casinos, Inc. also announced that it has entered into an agreement with Net World
Marketing, Inc. whereby Net World Marketing will develop and maintain web sites for the
"Margaritaville Hotel" and for the "Margaritaville Casino." Under terms of the agreement, Net World
Marketing will develop and operate, for the Company, reservations systems for the hotel and
maintain and operate the Margaritaville Casino Internet gaming site. Net World Marketing will also
provide advertising and marketing services for both the hotel and casino operations.
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