Anthony Marson
Everett, WA (USA)
Role(s):
Founder/Owner/Principal
The Club Casino
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Startup
Location:
Everett
Industry:
Entertainment
Year Founded:
2005
Number Employees:
100-250 people
Description:
Good Day,
We are seeking a $16 Million funding package, in order to acquire our real estate, debt consolidation, advertising and building improvements. This investment will facilitate the growth of our restaurant, casino as well as our entertainment business. Also this will provide the necessary step to begin phase 3 of our business plan, building a hotel, casino and 2000 seat event center along with retail shops and promenade.
We are open to all funding options PPM, Equity or JV.
Our casino has been in operations for 3 years and is becoming dominant for our area, gaining substantially year to year.
The building is 18,000 sqft.
Potential:
* Increase wagering limits from $200 to $300, should provide a 25% growth in housed banked revenues alone.
* Figure to have just a 15% market absorption, "at least" a triple up is possible.
* Increase in hours of operation from 20 hours a day, to 24 hours 5 days a week and 20 hours 2 days a week, an increase of 20 hours a week.
* Acquisition of the real estate/mini mall that we are located on,thus lowering costs.
* Real estate is roughly a 5 archer parcel with 21 retail shops on triple net leases and has a market cap of 8% (solid tenants)
* Over two hundred night time parking spots.
* Possibility of dividing our building into another casino license.
Liabilities:
When we started the casino operation we fell seriously under capitalized.
Due to unscrupulous contractor cost over runs our startup capitol was all but gone.
Creating a large debt load in the time it took to gain market share.