HOLLYWOOD, FL -- Senticore, Inc. a Florida-based publicly traded holding company with interests in residential and commercial real estate, land development projects, timber plantations, and professional sports, announced that it has been awarded a broad-ranging casino gaming permit by the government of Venezuela to operate a complete land-based and Internet casino on Margarita Island.
"The acquisition of a gaming license demonstrates Senticore's intent to further diversify its holdings within high growth industries," said chief executive officer, Jay Patel. "The gaming industry has seen a large surge in recent years, and with the increasing availability of high-speed Internet access all over the world, we expect the Internet gaming industry to continue to experience double and even triple digit growth for the next five years."
The new gaming license has been issued for the off-shore island of Margarita (Isla Margarita). Margarita Island is a resort island less than 25 miles off the coast of Venezuela and has a permanent population of 300,000 residents. The island's average daily temperature is 80 degrees with approximately 320 days of sunshine, giving it a significant advantage over a number of competing Caribbean resorts. Its ideal climate, beautiful beaches, abundant leisure activities and some of the most exciting nightlife in the Caribbean is the reason many South Americans and Europeans include Margarita Island in their vacation plans.
Senticore's management team sees Margarita Island as a Caribbean "hot spot" that has yet to reach its potential. Margarita is often referred to as the "Pearl of the Caribbean," but Senticore believes that this pearl is very much undiscovered. "An enormous growth opportunity exists in tourism and gaming," said Carl Gessner, Senticore president. "With a bit of promotion, Margarita can become something very special. We believe we are taking advantage of the perfect opportunity at the right time."
Senticore's gaming license also provides the company with an entry ticket into the potentially lucrative world of online gaming. Plans are in the works to give Senticore an Internet gaming presence by year's end including a complete sportsbook, traditional casino table games, poker, slots and more.
About Senticore, Inc.
Senticore, Inc. is focused on the acquisition of diverse businesses and real estate within various industries such as timber and logging, residential & commercial real estate, land development projects, the hospitality industry, professional sports, and the newly added and rapidly growing gaming industry.
At present, Senticore, through its merger partner, Westar South America, has a significant presence in Venezuela as it owns and operates a large Caribbean Pine timber plantation including two producing sawmills.
For more information on Senticore, Inc. and its holdings, visit www.senticore.com or www.detroitgladiators.com . In addition, Chief Executive Officer, Jay Patel, will be interviewed on a live Internet radio broadcast at 12:00 pm EST on Thursday, September 30, 2004. Listeners may log on to www.ibcradio.com to obtain a better understanding of the company's outlook.
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.