Castello Casino Corp. announces gaming centre to open on Sept. 6, 1996 in San Antonio, Venezuela.TORONTO--(BUSINESS WIRE)--Aug. 21, 1996--Castello Casino Corp. announces that the Forum Entertainment Gaming Centre will open on Sept. 6, 1996. The gaming centre is located in San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , 12.5 miles (21km) west of Caracas, Venezuela. The plush 33,000 sq. ft. facility with classical Roman architectural design This article or section may contain original research or unverified claims. Please help Wikipedia by adding references. See the for details. This article has been tagged since September 2007. is portrayed as an open air amphitheatre. The Forum features "Spanish Bingo" an electronic Keno-like game with over 1000 seating capacity Noun 1. seating capacity - the number of people that can be seated in a vehicle or auditorium or stadium etc. commodiousness, spaciousness, capaciousness, roominess - spatial largeness and extensiveness (especially inside a building); "the capaciousness of Santa's . The slot/video poker machine area will accomodate over 700 machines and is opening with 269 positions. Additional machines will be acquired through cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses . Table games will be added when government approval is received. The upscale gaming centre in complemented with fast food service and bar as well as a luxury restaurant/lounge with live entertainment. Castello has a 25% equity interest in the project, and a 20% profit participation after a 20% carried profit interest held by Venezuelans. Castello will receive 80% of the profits after the carried interest until payback Payback The length of time it takes to recover the initial cost of a project, without regard to the time value of money. of capital costs. Castello's joint venture partner will manage and operate the gaming centre and together will pursue other casino site opportunities. CONTACT: Castello Ross McGroarty, 416/594-0528 Peter R. Ayoub, 011-58-32-63-06-94 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion