tommichael
New Contributor
User Power
Value/Post Ratio
40%
- Mar 13, 2019
- 5
- 2
Dear Fastlaner Community,
My brother and I have been hustling in the gambling industry for a long time and we are working on a project to establish and run our own Casino. The planning of the project is close to completion (business concept ,financial planning) and we found a property already which qualifies as location and are in negotiations with the seller already. The opportunity set is huge in our opinion as we would operate in a very regulated jurisdiction (with very few competition) and we got the rare opportunity to apply for and receive a Casino license from the respective government authorities. We face the following situation:
While we found an opportunity to obtain debt financing for the property, we are struggling with the required 5 Mio. USD equity capital needed upfront in order to qualify to apply for the Casino license. We got one investor who could provide us with 1.5 Mio USD upfront, however, we are missing 3.5 Mio USD as our second investor bailed out just recently. I would greatly appreciate to receive any ideas and thoughts how we could obtain the missing 3.5 Mio. USD to best possible terms (without giving away too much equity).
Thank you and best wishes,
Tom
My brother and I have been hustling in the gambling industry for a long time and we are working on a project to establish and run our own Casino. The planning of the project is close to completion (business concept ,financial planning) and we found a property already which qualifies as location and are in negotiations with the seller already. The opportunity set is huge in our opinion as we would operate in a very regulated jurisdiction (with very few competition) and we got the rare opportunity to apply for and receive a Casino license from the respective government authorities. We face the following situation:
While we found an opportunity to obtain debt financing for the property, we are struggling with the required 5 Mio. USD equity capital needed upfront in order to qualify to apply for the Casino license. We got one investor who could provide us with 1.5 Mio USD upfront, however, we are missing 3.5 Mio USD as our second investor bailed out just recently. I would greatly appreciate to receive any ideas and thoughts how we could obtain the missing 3.5 Mio. USD to best possible terms (without giving away too much equity).
Thank you and best wishes,
Tom
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