Rick Grunden
Destin, CA (USA)
Role(s):
Other
Four Kings Gaming, Inc
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Startup
Location:
Destin
Industry:
Entertainment
Year Founded:
2012
Number Employees:
10-50 people
Business Stage:
Growth (not profitable)
Entity Type:
"C" Corporation
Description:
Four Kings Gaming will operate its own casinos (St. Maarten opens Sept 15th, with St. Kitts, Trinidad and Tobago opening in the next 60-90 days) under its master gaming licenses which it already has in several desirable locations throughout the Caribbean, Central America, Europe, South America and Asia. We are offering qualified investors the opportunity to buy in to the revenue sharing partnerships of our slot machines.
We offer Limited Partners the ability to buy units in our Phases, which represent 75 slot machines in each Phase. Each unit represents 1/75th of the Phase. In the current Phase, each unit costs $12,500 and the Partnership lasts until the Limited Partner has earned 10 times their return on investment, meaning for every unit purchased at $12,500 the investor's agreement would last until they were paid a total of $125,000.
The Limited Partner would be allowed to buy back in at a 20% discount off of whatever the current terms are at that time for up to 30 days and after that they would have to pay full price.
Industry averages range from $200-$300+ per day per machine. Even at $100 per day, the investor would net around a 92.5% APR and at $300 per day, which is considered average would be well over 300% APR and the 10 times return would be paid out in (3) three years.
We are not opposed to a traditional draw down facility to pay for the slot machines and pay interest and loan back out of proceeds every month.