So the Dominican Republic Casino is smaller than what we are used to seeing in Vegas as a 30 story building with fountains valet, shopping malls inside, amusement parks, IMAX theaters, and huge concert venues.
In my opinion it is no joke. I have no casino that puts it to shame and makes it a joke, do you? Tell me where your casino is and I'll bring my wallet.
My take is that they learned the business and became very successful at what they do with night clubs making millions of dollars annually, restaurants, and all facets of entertainment, hotels, and casinos. Now are taking the next logical step by building a larger facility with fountains, shopping malls, IMAX Theater and a very large concert venue. If they did not have experience with casinos I would be very concerned and right there with the bears saying watch this thing tank, let’s make some money shorting it on the way down.
Summit City holds approximately 6000 people in their Piere’s facility now and sells it out standing room only with headlining acts several times per month. They put smiles on faces of 25,000 people a month faces. That is impressive to me, I do not have a club putting smiles on faces of 25,000 people per month for 20 years year in and year out.
When Chairman Stan Liddell built the Canterbury Green facility most people in the area said it can never be done. He single handedly changed the landscape of entertainment in the Midwest by building the largest night club in the Midwest and putting Fort Wayne on the map.
The second largest city in Indiana with approximately 300,000 residents does in my opinion have the population to support a casino, with another hundred thousand in the surrounding area. Gary Indiana has 3 of them; in fact other casinos have less than 50,000 people in their host city and boast hundreds of millions of dollars in profit every year.
This in my opinion is not a stinky pinky, they are informing us that assets have been placed into the company which is a step in the right direction from the text for cars idea.
Debt: I understand that there may be some software involved to create that program and a data base, but to say a million dollars is the price tag on that is a bit farfetched in my way of thinking.
I would venture to say it could be done for under $10,000. Not the best idea in my opinion either. Why would I text someone that I am interested in buying a 2009 Honda Accord with under 20,000 miles when I could just hit the web browser and look up reputable dealers with car fax reports on the vehicle and see what it looks like. Hardly a million dollars in debt.
Business 101: I would not buy a shell with the debt attached. That is completely and totally absurd. Any businessman with even one firing brain cell would stipulate in the contract of purchase that your company stays with you, including all assets and liabilities. We buy the public corporation and we replace assets equal or greater value to what was in it for the benefit of the share holders so they are not screaming fire while we are building. Has anyone called the company and ask them if they have assumed all debts for Text for Cars and David Dion because they are nice guys, and dumb as a box or rocks?
I understand the need for the bears on this, but let’s have a pinch of reality here mixed with our speculation and sowing the seeds of discontent. Keep it real fellas.
Cheers
AI
