Replies to post #568 on Bayport International Holdings Inc. (BAYP)

[homey_g]

Sweet NEWS Sterling...This is not the reason I joined this stock but I like to new direction already!

[Zorro]

Done rather nicely I'd say;)

[Ex Blockman]

Wow!

[Monk]

You can say it...Boo Yah....

[joanneg]

That is OUTSTANDING news Stervc!!

[investor911]

Awesome NEWS!!!!. Very detailed PR, never seen in a while for sure.

[balamidas]

wonderful NEWS Sterling!!let the good time roll now~

[Twilson]

This is the strongest news I have seen in a long time!!Sahre strcture to remain in tact,and now EXTO,or what ever the new symbol is will be worth a heck of alot more than pennies per share!Be nice to see some type of valuation on this!All i can say is "Awesome"!

[righty]

Published: November 16, 2008 6:00 a.m. Investors moving on casino ideaWater park possible side attractionJeff WieheThe Journal Gazette
Don’t believe what you hear. A casino in Fort Wayne is no pipe dream.

So says a local businessman who scoffs at the idea from legislators in Indianapolis that there’s no one – businesses, local officials or private citizens – pushing for a local gambling place to attract visitors.

A casino would fit in nicely with the prospect of a new water park resort and hotel being planned for Fort Wayne with the help of several investors and a new company set to be made public soon, according to businessman Chris McKenna.

“It’s not going to be Vegas,” said McKenna, a Detroit native who has lived in Fort Wayne since 1989, regarding the possibility of installing a single casino in town. “We want to keep it a family place. We strongly feel a casino can be done here in a family-friendly way.”

McKenna also said such a resort would give Fort Wayne about 1,500 new jobs.

His plan is to keep everything going into the casino as local as possible. From the companies that make the dice to those who mint the coins, McKenna said he can find businesses in the area that can provide such goods.

“Everything has to come from here,” he said.

McKenna’s plan is partly backed by local businessman Stan Liddell, owner of Piere’s Entertainment Center, who has holdings in numerous restaurants and other nightclubs and has bought a hotel and part-interest in a casino in the Dominican Republic.

Still, he knows a hard road lies ahead in getting gambling into the resort, which he and fellow investor Nathan Stephens described as including a “full-fledged” casino you could find anywhere in the country.

“We know there’s a fight coming, of course,” McKenna said. “The biggest hurdle is probably our current legislative process.”

Four possible locations have been identified for the water park resort, McKenna said, which he believes will happen with or without a gambling component. He would not disclose which spots or areas of town have been targeted, but Liddell gave a bit of a clue as to one possibility.

“We need something to attract people downtown,” he said.

Without costs related to a casino, McKenna said the water park and hotel will cost probably $150 million. But, he said, the group believes they can obtain up to $1.2 billion for the project.

McKenna would not name other investors or political figures who have been consulted.

McKenna said he and the investors are creating a company called Summit City Grand Resort & Casino Holdings Corp., which he said will go public soon. Liddell will be CEO of the company, and McKenna will be a partner, they both said.

“We’re in the infant, infant stages on this,” he said. “A lot of work has gone into this to get this far.”

[e-mail]
http://www.journalgazette.net/apps/pbcs.dll/article?AID=/20081116/LOCAL/811160456/1044/LOCAL08

[phildcan]

So Discuss this please. I am new to alot of this, so please excuse to 'green' questions.

What do you think will happen here? How does Exit Only merge with a gaming company? what are they offering to them?

What will this do to shares? Will they have to buy out all the shares?

Is this gaming company privately held or is it publicly traded?