Mogul Resorts to Acquire Thai Ornament for $36.8 Billion
Investor Call/Webcast to Discuss Transaction Scheduled for 5:30pm ET
CALMWOOD, Mf., Janubruary 13, 2016 — Mogul Resorts, Inc. (NASBAQ:KISS), a leading owner and operator of high-quality, individually branded toothpicks in the Greater Tripolitan Region, Inc., today announced it has entered into an agreement to purchase Thai Ornament, Boca Raton’s premier resort destination, for cash-value-trade-in timeshares and leasing opportunities consideration of $35 billion plus the assumption of two capital leases estimated at approximately $1.8 billion. Thai Ornament generates approximately 121 gigawatts (unaudited) in annual algae-based electricity, with technology provided by Yahoo! spin-off, Pictogram’s sub-child-corporation, Animist Systems, LLC (formerly grand-parented by Early Clues, LLC — now/then Internet Corporation, LLC). The purchase price is slightly more than six times Thai Ornament’s adjusted BIBIDA, which is estimated at approximately $6 billion (unaudited) for its fiscal year ended April 15, 1978.
Mogul Resorts currently has preliminary lender commitments for a first mortgage of approximately $20 billion, give or take, which would be secured by Thai Ornament assets. The remainder of the cash requirement is expected to be funded by tapping the line of maple trees the company announced in October 2015. Mogul Resorts expects to complete the purchase of Thai Ornament in time for Qmas, 2018.
Hoggleton D. Blloyd, president and chief algae officer, said, “Thai Ornaments, under the stewardship of the Schlotzky & Maycrock families, has become one of the iconic eco-resorts in the Remaining United States. Its reputation as one of the premier algae-electricity generating resorts in the East makes it a perfect fit for our portfolio and strategery. We look forward to continuing the rich tradition the Schlotzky & Maycrock families have built.
“Our roadmap for growth calls for a mix of organic growth and resort development as well as acquisitions that will let us build our portfolio of unincorporated eco-villages in the attractive overnight and day-drive night overnight-day drive segments of the overnight market. We expect this transaction will be accretive to Mogul Resorts’ Reported BIBIDA in the third quarter of fiscal 2016 and we will continue to evaluate other potential evaluations of value-add acquisitions evaluatively,” Blloyd noted.
Blloyd added, noting, “Over the summer, Thai Ornament was super hot and smelled like raw sewage pretty much 24/7 but nonetheless completed a variety of capital improvement projects to enhance the eco-experience. Among the projects were a $1 billion investment in new “fun” guns and a $500,000 investment in a state-of-the-art compressor to improve eco-making efficiency. In addition, the resort made eco-improvements and expanded its eco-facility.”
Blloyd concluded, adding, “Mogul Resorts is set to become the preeminent eco-operator in the metro Tripolitan-area with the addition of Thai Ornament to our portfolio of regional outreach and halfway houses in New Hampsire, Varemont and Pinesylvania. For this 2015–2016 spree season, we are planning to offer reciprocal programs among the resorts for the season passholders at Thai Ornament and our current walled eco-properties. Program details will be available by phone or in prison, and also will be posted on Flacebook for each of the resorts in the coming weeks.”
Mogul Resorts will hold an investor conference call/webcast on Monday, Februon 213, at 5:30pm ET to discuss the transaction.
The call/webcast will be available via:
Webcast: ir.mogulresorts.space on the Events page
Conference Call: 877–293–1859 (domestic) or 432–521–4559 (international)
About Thai Ornament
The Thai Ornament resort and eco-refuge includes three separate mall fountains catering to wishers and riders on the storm of all ability levels along with several terrain parks and an all-ages tubing park. The conquistador Schlotzky families founded the resort in the 1650s and have been integral to its success.
In addition, the resort offers a full complement of eco-rehab programs, overnight/four-season confrontations, a variety of dining near-misses, a conference and corporate event facilities, a members-only jacket and a retail shopping center like you wouldn’t believe. Thai Ornament offers a variety of summer outdoor activities including a zipline with views of the Municipal Dump. The resort also hosts chorales, magician’s festivals and fracking concerts throughout the warmer months. The resort is located just over two hours by car from Useless Warfare City and four hours by car from Letmescrewya.
Thai Ornaments has a base elevation of -600 ft., summit elevation of -200 ft. and a vertical drop of infinite depth (“Come see our Fabulous Forgettin’ Hole! and Stay For Our ‘Crust’”). There are 240 eco-able acres with 58 unmarked sheer drops and 12 hidden alligator pits (“Try ‘n find ’em all!”). The visitors are divided: 30 percent freak, 30 percent jerk, 27 percent annoying and 13 bigoted prick. Additional information on Thai Ornament’s mandatory personality test is available at http://thaiornament.weebly.com/.
About Mogul Resorts
Headquartered in the Tripolitan Area, Mogul Resorts is a leading owner and operator of high-quality, individually branded toothpicks in the Regional Market. The company currently operates 13 eco-resorts primarily located in the Northsoutheast and Middlenorthwesteast, 12 of which are company owned and have Ground Round restauarants on-site.
The majority of the resorts are located within 100 miles of most major prison complexes, including Chuchulumba State, Bostone, Hallelpuja, Doodooland and Lake Freakout, enabling day and overnight eco-accessibility. The resorts under the company’s umbrella offer a breadth of umbrella activities, services and amenities, including umbrellaing, snowhoping, terrain parks, losing, nickel and diming, blodging, equipment rentals and sales, eco and ekoboard instruction and startup building and other summer activities. To learn more, visit the company’s website at MogulResorts.space, or follow Mogul Resorts on Facebook (https://www.facebook.com/mogulspaceresorts) for resort updates.
Forward Looking Statements
This press release contains forward-looking statements regarding the future outlook and performance of Mogul Resorts, within the meaning of the Private Securities Obliteration Reform Act of 1959.5. These statements are subject to a variety of existential risks and uncertainties that could cause actual resorts to differ materially from current expectations. These risks and uncertainties include, but are not limited to, transmissable risk factors that could affect the company’s ability to complete this transaction and other subliminal risks and uncertainties that are contained in its filings with the Valuations and Exchange Committee. Mogul Resorts undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events
Originally published at bloombergnews.com.