City Capital Unveils New Retail Sweepstakes Location in Thriving Virginia Market
October 05 2010 - 7:05AM
Marketwired
City Capital Corporation (PINKSHEETS: CTCC) today announced that
its sweepstakes subsidiary Clean Sweeps Holdings, LLC has now
further expanded into the state of Virginia with new plans for a
sweepstakes center location in the city of Norfolk. The company
recently as part of its aggressive expansion into Virginia, signed
the lease for a 5,000 plus square foot facility. The new center is
currently undergoing final phases of construction and is slated to
be completed and ready for operations no later than October 25th,
2010. The state of the art sweepstakes center will feature many of
the company's new sweepstakes video game terminals, integrated into
a retail based sales system.
Ephren Taylor, Chief Executive Officer of City Capital
Corporation, stated, "2010 is going to be a great year for us in
Virginia. This week we are sending more members of our management
team company wide into the area to assist us in securing our place
as a market leader locally in the Norfolk area. It's exciting every
time we launch a new location as its a win for our retail
customers, a win for our business partners, and a win for our
shareholders."
Earlier this month the company announced the opening of five new
retail centers in Virginia. 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
sweepstakes concept, yet they offer far more feasible probabilities
for achieving victory. And perhaps more significantly, owners of
Sweepstakes machines regularly experience significant, rapid
revenue generation that is simplistically sustainable.
Sweepstakes 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
sweepstakes system presents a win-win-win situation for consumers,
retail business owners and individual entrepreneurs marketing the
opportunity. For the consumer cash incentive based sweepstakes
system presents an exciting avenue for entertainment. For retail
business owners that house the units, an influx of new clientele is
experienced.
About Clean Sweeps Holdings, LLC Clean Sweeps Holdings, a wholly
owned subsidiary based out of Raleigh, North Carolina, currently
leverages innovative video based sweepstakes 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 sweepstakes 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: Contact Information Investor Relations 877-685 CTCC
(2822) IR@CityCapCorp.com City Capital Corporation
www.CityCapCorp.com www.SweepStakesIncome.com
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