Sosua Bay Casino Closed For Renovation

Ken

Platinum
Jan 1, 2002
13,884
495
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Big sign in front of the doors to the casino saying it was closed for renovation in order to offer a better service.

The casino was sold and the new owners are doing the renovation.
 

the gorgon

Platinum
Sep 16, 2010
33,997
83
0
Big sign in front of the doors to the casino saying it was closed for renovation in order to offer a better service.

The casino was sold and the new owners are doing the renovation.

there is a new group of cats out of Montreal buying up any and every casino they can get their hands on. if they are the ones who bought this casino, the renovations could take a while, since Banco Popular has just frozen their account....something about 'lavando". the syndicate has already lawyered up, and they have entered a suit for 450 million against Banco Popular.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
there is a new group of cats out of Montreal buying up any and every casino they can get their hands on. if they are the ones who bought this casino, the renovations could take a while, since Banco Popular has just frozen their account....something about 'lavando". the syndicate has already lawyered up, and they have entered a suit for 450 million against Banco Popular.

There is a lot on Google about the sale, but nowhere can I find any info about the buyer.

Caribbean Casino & Gaming Sells Sosua Bay Grand Casino and Enters Joint Venture Agreement - Yahoo! Finance

Buyer's name not given in the articles on the sale.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
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Sad, but true, a box of chiclets is actually worth more than 25 shares of this Blue Chip!
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
I hope it was not a stock swap, perhaps Armando got a box of chiclets!

You're out of date. Armando didn't sell the casino, he had already sold it to Caribbean Casino and Gaming Corp. They are the ones who sold it.

Armando owns the building, but not the casino.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
You're out of date. Armando didn't sell the casino, he had already sold it to Caribbean Casino and Gaming Corp. They are the ones who sold it.

Armando owns the building, but not the casino.

Mr. C. is a shareholder in CGAQ and on the board, so you are out of date fella.
Too much prune juice today Ken?
 
May 29, 2006
10,265
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What's that game they have in the DR casinos that starts off with small bets and the next thing you know you're being taken to an ATM escorted by a couple of thugs? American Casinos have got some good laws to prevent people from being scammed. I hear KENO is the worst for the odds of winning.

I knew an ex-pat who was playing Texas Hold 'Em in Cabarete against tourists. He said he average well over $1000/week in ten player games with a fixed $100 buy in. He had to place in the top three to at least break even. Not the worst way to make a living.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Mr. C. is a shareholder in CGAQ and on the board, so you are out of date fella.
Too much prune juice today Ken?

No, I'm aware of that. But as I said, Armando got his money when he sold the casino to the company.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Closed for renovations right at the start of high season? Makes no sense to me.....

To the contrary, it makes a lot of sense. If the casino still owned by Caribbean Casino and Gaming I would agree it didn't make sense to do the renovation now, it should have been done this summer.

But a new company has just taken over and I can understand their decision.

Sosua Bay Casino is old news. People have already made up their minds about it, good, bad or indifferent.
They aren't going to come to an old casino just because it has a new owner.

However, if it is completely renovated and has a new owner, people will come just to see what is new, different, better. It is a chance to get people back who might otherwise not come

So this is the right time to make a fresh start.

They may lose some business during the renovation but have an opportunity to more than compensate for that after the renovation is done.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Correction: Casino Not Closed

Although there is a huge sign in front of the doors to the casino about the renovation, I did not notice until this morning the small notice pasted to the door saying the casino was open and apologizing for any inconvenience caused by the ongoing renovation.

Also, new name: Coral And Reef Casino