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.
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