Omega Commercial Finance Corp. Completes Acquisition of Luxury Casino Cruise Ship with Oceans 21-Miami LLC
(The "Omega Royale" to be the largest Vegas Style Luxury Casino
Resort Vessel in the World)
MIAMI--(Business Wire)--
Omega Commercial Finance Corporation (OTCBB:OCFN) announced today
that it has finalized its acquisition of a luxury casino cruise ship
with Oceans 21-Miami LLC ("Oceans 21") and its majority shareholder.
The casino cruise ship's name shall be changed to the "Omega Royale"
and will be deployed in international waters as part of the offshore
casino cruise industry.
The Omega Royale will be a 100,000 square foot ultra luxurious
resort style casino vessel equipped with a 49,000 square foot,
state-of-the-art casino that will include approximately 500 player
tracking slot machines and 64 table games consisting of Baccarat,
Black Jack, Craps and Roulette. The plush style casino will be spread
over four decks, which will be connected via elevators and escalators.
A complete Vegas Style Sports Book will afford gamblers the
opportunity to wager 24 hours a day on various sport competitions
including basketball, baseball, boxing, football, golf, hockey, soccer
and horse racing.
Resort style amenities such as multiple lounge venues, a Grand
Show Room with headliner & production shows, expansive outdoor decks
with several dining options ranging from 'All You Can Eat' buffets, to
luxury gourmet 4 star dining with white glove treatment, will adhere
to the wide range of gamblers the ship expects to draw. Special
attention shall be paid to the ships VIP facilities. The company
anticipates including luxury suite accommodations, a VIP lounge, a
world-class Asian spa, business conference facilities and retail
boutique shops. High Rollers will enjoy the luxury of having the
ability to fly in on the vessels VIP heliport.
Omega Royale expects to compete primarily with other gaming
operations within a one hundred mile radius. Management believes that
their casino operations have a distinct competitive advantage over its
primary competitors. Visitors who prefer playing Roulette, Baccarat,
Craps, a wider variety of slot games and the ability to wager on
sports will have the ability to do so on the Omega Royale.
Additionally, through strategic planning, the company has
identified an unprecedented way to turn over its gambling clientele
several times a day without the vessel having to leave its
international waters. The use of two catamaran shuttles will give the
company the ability to transport up to 300 gambler's less than 60
minutes allowing the casino and its operations to run at full capacity
virtually 24 hours a day. This unique ability to sustain constant
gambling operations mixed with the vessels 2,000 passenger capacity
should allow for a consistent revenue stream for the company and its
operations.
The anticipated launching of the Omega Royale is scheduled to
coincide with the 2009 Super Bowl, one of the foremost gambling days
of the year in Tampa, Florida. Omega Royale will cater to the offshore
major metropolitan areas and will be located in international waters
with its multiple U.S. Flag catamaran passenger shuttles.
Additionally, as a "foreign-flagged vessel" the Omega Royale can dock
anywhere in the US and abroad.
Jon S. Cummings III, Chairman, stated, "We are extremely pleased
with the definitive acquisition of this vessel. This marks our first
completed acquisition as a publicly traded holding company. A
tremendous amount of effort and negotiations went into this project
and we are happy in meeting with our objective of adding strong
tangible assets that will undoubtedly produce steady income stream to
our balance sheet." Additionally, he stated, "In today's current
market conditions, creative and diversified strategies with imbedded
values, a strong business model, and the ability to execute is
necessary in order to achieve our competitive edge for the foreseeable
future and to bring value to our shareholders."
Please refer to the company's latest 8-K filing with the SEC for
more information on the acquisition of its luxury casino ship.
About Omega Commercial Finance Corp.
Omega Commercial Finance Corporation, through its subsidiary,
Omega Capital Funding LLC offers financing for real estate markets in
the United States. The company provides short and medium term loans to
borrowers primarily consisting of commercial real estate developers
and speculators, business owners, landlords, and owners of core and
non-core assets. It focuses on various alternative commercial real
estate financing with an emphasis on loans secured by commercial real
estate and also on financing non-core assets, including ground up
developments and un-entitled land developments, as well as core
assets, including office buildings, multi-family residences, shopping
centers, and luxury residential estates.
Safe Harbor
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements appear in a number of places in
this release and include all statements that are not statements of
historical fact regarding the intent, belief or current expectations
of Omega Commercial Finance Corp., its directors or its officers with
respect to, among other things: (i) financing plans; (ii) trends
affecting its financial condition or results of operations; (iii)
growth strategy and operating strategy. The words "may," "would,"
"will," "expect," "estimate," "can," "believe," "potential" and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond Omega
Commercial Finance Corp's ability to control, and that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors. More information about the
potential factors that could affect the business and financial results
is and will be included in Omega Commercial Finance Corp. filings with
the Securities and Exchange Commission.
Omega Commercial Finance Corporation, Miami
Jon S. Cummings IV, CEO & President, 305-677-0306
www.omegacommercialfinancecorp.com
Copyright Business Wire 2008
