HOUSTON--(BUSINESS WIRE)--Cala Corporation (Stock:CCAA) is pleased to inform its shareholders that the company has signed a construction agreement with Cosco Dalian Shipyard, one of China’s largest government owned shipbuilders. The company will now endeavor to raise the necessary funds to start construction. We are aware that funding will be the hardest part as the market place is tight and there are no guarantees of victory in a free market. The company will first attempt to raise the funds by pre-selling the Miami offshore development asset to large casino magnates or by exploring underwriters for the issuance of high yield bonds.
Additionally, the company is in the early discussions stage with casino companies to explore the possibility of co-developing the 120,000 square feet gaming space which is set to include 2,000 slots and 100 tables. According to Warwick Bartlett at www.gbgc.com the current global online betting is $451 billion. The first location is planned to be permanently moored in international waters off the shore of Miami, within 25 minutes of downtown Miami. The location is set in international maritime jurisdiction which means zero taxes and it is outside the Federal and State Gambling Laws.
According to Florida Cruises to Nowhere's industry spending review, the average player spends about $200 per visit onboard with a daily average attendance of 1,200 which translates to annual sales of $88 million. However, our company advantages are too many to mention starting with being open for business 24/7. Not to mention the property's vast measurement of 500,000 square feet or 14 football fields. The property is designed to accommodate up to 10,000 guests per day. The guest transportation will be either tailored fast ferries or several large helicopters.
From this moment on the company will focus exclusively on building offshore casino resorts as the ROI is much higher in respect to land based casino resorts. On an ongoing basis, the company will seek to pre-sell each new property asset to gaming hospitality owners.
The Cala Corporation trading under the (Stock:CCAA), is in full compliance with the U.S. Securities Exchange and Commission. Therefore, brokers and market makers wishing to trade Cala stocks, please contact either Matthew Taback at Cantor Fitzgerald Equity Market Division at 212.829.4963 or Patricia Consummate at 240.386.4994, FINRA Market Division.