Atlantis Gaming Corp. Makes Bold Moves in Real Estate, Embracing a 'Real-Life Monopoly' Strategy

Rhea-AI Summary

Atlantis Gaming (OTC PINK:ATIG) is embarking on a unique expansion into real estate with a 'Real-Life Monopoly' strategy, led by real estate expert Herb Strather. AGC has acquired the Lahser 6 Apartments (54 units) in Detroit for $2.2 million and a 55,000 SF modern office building on W. McNichols Rd for $1.8 million. Both transactions are conducted via a 100% stock swap, reflecting AGC's innovative asset acquisition approach.

Acting CEO Linda I. Bailey emphasized the alignment of these acquisitions with AGC's diversification strategy. Detroit's recovery has created a ripe investment environment, supporting AGC's real estate ventures.

The leadership team, with a strong gaming and real estate background, plans to integrate gaming promotions with state lotteries and launch a skill-gaming operator within six months. The company aims to complete $100 million in real estate transactions in the next 60 months, targeting over $2 million profit from the recently announced acquisitions.

Positive

• Acquisition of 54-unit Lahser 6 Apartments and a 55,000 SF office building for $4 million through a 100% stock swap.
• Detroit's recovery fosters a favorable investment environment.
• Plans to complete $100 million in real estate transactions over the next 60 months.
• Target profit of over $2 million from the two announced transactions.

Negative

• High reliance on stock swaps for asset acquisition, potentially diluting existing shareholders.

DETROIT, MI / ACCESSWIRE / August 29, 2024 / Atlantis Gaming Corporation (AGC/ATLANTIS)(OTC PINK:ATIG) is shaking up the gaming industry with a unique "Real-Life Monopoly" acquisition strategy, spearheaded by real estate veteran Herb Strather.

Strather, whose impressive career boasts over $2 billion in closed real estate transactions, is leading AGC's aggressive expansion into real estate. The company is proud to announce the acquisition of the Lahser 6 Apartments, a 54-unit building in Detroit, and has secured a deal to acquire a 55,000 SF modern office building on W. McNichols Rd., also in Detroit.

Both transactions, valued at $2.2 million and $1.8 million respectively, are being executed through a 100% stock swap for equity, showcasing AGC's innovative approach to asset acquisition.

These acquisitions mark a pivotal moment under the leadership of Acting CEO Linda I. Bailey, who is committed to driving AGC's growth following the passing of her husband and former chairman, Donald L. Bailey.

"With over two decades of executive experience with the Atlantis Companies, I am dedicated to realizing the AGC Board's vision through strategic resource allocation and financial growth," said Mrs. Bailey. "This real estate acquisition perfectly aligns with our diversification and asset portfolio enhancement strategy."

The initial transaction involved a stock-for-assets swap with the Grenadier Family, prominent real estate holders in southeast Michigan, and their brokerage firm, Strather Associates.

Detroit's Resurgence Fuels Investment

Detroit's remarkable recovery from its historic bankruptcy has positioned the city as a prime investment hub, attracting global attention. The city's investment-grade credit rating and renewed investor confidence create a fertile ground for AGC's expansion.

Gaming Expertise Meets Real Estate Prowess

AGC's leadership team brings a proven track record in gaming and real estate development. The developers previously created and sold the Motor City Casino for $160 million in profit and have been involved in providing games for state lotteries.

Leveraging this expertise, Atlantis plans to use scratch-off tickets and promotions with state and provincial lotteries, featuring retired athletes, musicians, and celebrities in strategic marketing campaigns.

Additionally, the company is preparing to launch a skill-gaming operator within the next six months, capitalizing on the growing trend of competitive gaming.

Ambitious Growth Plans

This partnership aims to complete $100 million in real estate transactions over the next 60 months, with a robust pipeline of deals and new gaming initiatives already underway.

AGC intends to significantly expand its asset base through acquisitions and financing, targeting a profit of over $2 million and more than $4 million in assets from the two announced transactions alone.

This focus on real estate acquisitions will ensure stability and cash flow while AGC explores new gaming opportunities, marking an exciting new chapter for the company.

About Atlantis Gaming Corporation

Atlantis Gaming Corporation is a dynamic gaming company embracing a "Real-Life Monopoly" strategy to acquire and grow its asset portfolio. With a focus on real estate and innovative gaming ventures, AGC is poised for significant expansion in the coming years.

Contact:

Herb Strather herberts@atlantisgamingcorporation.com PH: 313.444.9691

Linda I. Bailey lindab@atlantisgamingcorporation.com PH: 702.818.1052

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SOURCE: Atlantis Internet Group Corp.

View the original press release on accesswire.com

FAQ

What recent acquisitions did Atlantis Gaming Corp. (ATIG) announce?

AGC announced the acquisition of the Lahser 6 Apartments and a 55,000 SF modern office building in Detroit, valued at $2.2 million and $1.8 million respectively.

What is the value of the recent real estate transactions by ATIG?

The recent transactions are valued at a total of $4 million.

Who is leading Atlantis Gaming Corp.’s (ATIG) real estate strategy?

Herb Strather, a real estate veteran with over $2 billion in closed transactions, is leading AGC's real estate strategy.

How is Atlantis Gaming Corp. (ATIG) financing its recent acquisitions?

AGC is executing the acquisitions through a 100% stock swap for equity.

What are Atlantis Gaming Corp.’s (ATIG) growth plans for the next 60 months?

AGC aims to complete $100 million in real estate transactions and significantly expand its asset base.

What profit is Atlantis Gaming Corp (ATIG) targeting from its latest transactions?

AGC is targeting a profit of over $2 million from the two announced real estate transactions.