City Capital Expands Further With Five New Sweepstakes Centers
September 23 2010 - 10:00AM
Marketwired
City Capital Corporation's (PINKSHEETS: CTCC) wholly owned
subsidiary Clean Sweeps Holdings, LLC announces the expansion of
its innovative sweepstakes business model in the state of Virginia.
Clean Sweeps Holdings LLC is currently positioning Sweepstakes
Income gaming terminals in an additional five retail locations
across southern Virginia. Sweepstakes based gaming recently became
state law in July 2010, and has since caused a boom in business.
Retail entities there are now experiencing stunning growth rates as
the hotly-popular gaming phenom continually brings in new
clientele, and revenue.
The company anticipates investing approximately $100,000 per new
retail location for a total capital contribution not to exceed
$500,000 in buildout over the next ninety days. The company is
targeting additional gross revenue from the five new locations of
approximately $700,000 annually. The estimated target revenue is
based solely on the average unaudited gross sales of existing
operating locations in the region. Management at the company
anticipates having the five new locations up and operating within
the next quarter.
Sweepstakes Income games allow players to win cash prizes at
terminals located in shopping centers and kiosks. The games attract
players of all types, diversifying the clientele that frequent
retail business entities. Comparable to the McDonald's Monopoly
gaming concept, Sweepstakes Income games are 100% legal, yet they
offer far more feasible probabilities for achieving victory. And
perhaps more significantly, owners of Sweepstakes gaming machines
regularly experience significant, rapid revenue generation that is
simplistically sustainable.
The company opened its first sweepstakes gaming center in the
state this summer, and has experienced market beating returns. Over
the last few weeks the company has been aggressively pursuing
expansion options, and finalizing plans for the buildout and
construction of an additional five sweepstakes centers in the
southern Virginia area. The company expects the first new locations
to come online later this fall, after finalizing administrative and
regulatory compliance. The additional locations per the company
plans will be wholly owned, or developed in partnership with
traditional retail businesses.
Ephren Taylor, Chief Executive Officer of City Capital
Corporation, stated, "The state of Virginia holds great promise,
and while we are aware of future and current challenges related to
our industry we are confident Virginia will be a strong growth
market for our company. While other companies operate
non-compliant, or sometimes illegal software clones of our systems
we plan to dominate the market with our innovative and compliant
retail platforms. That's why we have hired the best lawyers, the
best lobbyist, and some of the best professionals in the industry
to bring this plan to fruition."
Gaming terminal owners agree to pay a percentage of proceeds to
Clean Sweeps Holdings, LLC, which in turn donates a hefty portion
of every penny earned to various charities and other socially
conscious projects. The entire Clean Sweep Holdings, LLC gaming
system presents a win-win-win situation for consumers, retail
business owners and individual entrepreneurs marketing the
opportunity. For the consumer, a 100% legal cash incentive based
gaming system presents an exciting avenue for entertainment. For
retail business owners that house the units, an influx of new
clientele is experienced. And for the owners of the gaming units,
affordable, sustainable passive income streams are generated.
About Clean Sweeps Holdings, LLC Clean Sweeps Holdings, a wholly
owned subsidiary based out of Raleigh, North Carolina, currently
leverages innovative gaming technology to assist retail merchants
in increasing revenue while assisting charities with raising much
needed financial resources. The software itself is an interactive
suite of video games that allows merchants to run their own private
sweepstakes to encourage customers to spend more in their retail
locations. When consumers purchase the promoted items, a portion of
those proceeds helps to raise financial resources for selected
charities. The company earns revenue from managing the software and
hardware solutions on a subscription and percentage basis. The
company has recently collaborated with several development partners
for continued expansion of new and engaging interactive
applications to increase the effectiveness of the existing
platform.
About City Capital Corporation City Capital Corporation
(PINKSHEETS: CTCC), founded in 1984, is a leader in the production
and distribution of emerging new gaming technology. Its holdings
include corporate owned retail stores and partnerships across the
nation. City Capital also maintains its long track-record of both
building value for investors and shareholders, while keeping with
its socially responsible focus. A significant share of profits are
donated to charity and other worthwhile causes.
Contact: Investor Relations 877-685 CTCC (2822)
IR@CityCapCorp.com City Capital Corporation www.CityCapCorp.com
www.SweepStakesIncome.com
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