ROTF....
Applies to -- SNCG -- UNP
TO BUSINESS AND ENTERTAINMENT EDITORS: 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
TO BUSINESS AND ENTERTAINMENT EDITORS: 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
for 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.
This press release contains certain forward looking statements, which
are presented under the SEC "Safe Harbor" rules. There can be no
assurances that such future plans or projections will be completed, or
that if completed will generate the results anticipated.
SOURCE Sinclare Group, Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com -0-
CONTACT: Larry Stockett of Sinclare Group, Inc, 702-369-2126
WEB PAGE: uscement.com
GEOGRAPHY: Nevada
INDUSTRY CODE: CNO
ENT
SUBJECT CODE: TNM
OTC
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