MIAMI (PRWEB) June 5, 2008
The casino cruise ship merger is considered a potentially ideal fit for Omega. Through alignment with core asset owners, Omega will be strategically positioned to provide high yield debt commercial real estate finance programs to middle market borrowers. Merging assets through utilization of its publicly traded platform will strengthen Omega's ability to utilize capital markets to enhance value to their shareholders. Omega, through its subsidiary investment banking arm, will seek to capitalize the operations with an undisclosed amount for improvement to commence business in early 2009. Present market data indicates that once fully operational, this vessel will be capable of generating significant financial returns which will augment Omega's overall balance sheet.
The subject cruise ship was most recently deployed in the Florida's offshore casino cruise industry, operating in the Gulf of Mexico. This vessel was constructed in 1982 and encompasses approximately 40,000 square feet of gaming space. Subsequent to a merger, the ship is intended to be semi-permanently moored, and cater to the offshore metropolitan New York City area. Located approximately three miles offshore in international waters, multiple U.S. Flag shuttles will transport casino clientele to the ship.
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.