WASTE RECOVERY, INC. (PINKSHEETS: WRII) today announced the appraisal for Minxx Gentlemen's Club came in at $14,570,000.00.
The company was pleased to announce that the most recent appraisal for The Minxx Gentlemen's Club came in significantly higher than had been expected. The business and the property appraised at $14,570,00.00 up from the last appraisal of $8,900,000.00 in 2006. The value of the business and property was helped considerably by the recent sale of of competing clubs like The Crazy Horse 2 which recently was sold for $31,000,000.00. The strength in the market for Adult Themed Night Clubs in Las Vegas bodes extremely favorably for the company and their recently announced debt restructuring. The company will now be able to restructure the existing notes held as mortgages on the property located at 4636 Wynn Road in Las Vegas Nevada into one note at extremely favorable rates. Additionally, the refinancing will dramatically lower the interest payments thus freeing up a significant amount of working capital for the company. The company hopes to free up $2,000,000.00 to $4,000,000.00 for operations marketing and expansion. DR Entertainment is in the business of owning and operating upscale bars, nightclubs, Gentlemen's Clubs, and gaming taverns. DR Entertainment Group, LLC is here to create a new niche in the twenty first century bar, night club, and adult entertainment industry. The niche will be created through blending contemporary lounges, tavern gaming, and adult cabaret dancing with luxurious ultra lounge environments using cutting edge technology. The company currently owns and operates Minxx Gentlemen's Club which has been voted the number one adult club in Las Vegas for 2007. The Minxx Gentlemen's Club represents the first step to executing on this business model. The company constructed this facility from the ground up and owns the real-estate associated with the project. This $12,000,000.00 asset serves as the flag ship and conceptual model for the locations to come. Located just off the Las Vegas Strip, Minxx has created a playful, friendly, exciting and opulent atmosphere that is appealing to men and women alike. With its high concept design and 13,000 square feet of entertainment space, Minxx has raised the bar for cabaret entertainment. DE Entertainment intends to apply the same design and operational concepts to elevating the traditional experiences associated with Sports Bars and Local Gaming Taverns to a more exciting and comfortable level.
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WASTE RECOVERY, INC. (PINKSHEETS: WRII) today announced that Minxx Gentlemen's Club will partner with Vavoom Media (Vavoomtv.com) to produce a new television show, "The Porn Star Dating Game." Vavoom Media will be filming "The Porn Star Dating Game" at Minxx Gentlemen's Club. This four-part series will feature three random contestants all vying for a chance to have an all-expenses-paid dream date with one of Vavoom Media's sexy stars. The pilot episode will be filmed this coming Thursday, December 13th at Minxx Gentlemen's Club and aired for the first time at AVN Adult Entertainment Expo, which will be held in Las Vegas Janurary 9th through the 12th. This program will be the first in a series which Vavoom Media will franchise to its Cable Television and Internet partners. The program will also be available on Vavoom Media's home site, Vavoomtv.com. DR Entertainment is excited to work with Vavoom Media on this project and is optimistic that the program will focus national attention on Minxx Gentlemen's Club as a premier destination in Las Vegas for Adult Nightclub Entertainment. This program is only one part of a far-reaching media and brand building strategy which already features a reality-based TV show, which is currently in production, and partnerships with other premier Adult Entertainment production companies such as Vivid.com. The company is optimistic that this show will be the first in a series of fun and entertaining productions DR Entertainment will do with Vavoom Media. The company currently owns and operates Minxx Gentlemen's Club, which has been voted the number one adult club in Las Vegas for 2007. The Minxx Gentlemen's Club represents the first step to executing on this business model. The company constructed this facility from the ground up and owns the real estate associated with the project. This $14,570,000.00 asset serves as the flagship and conceptual model for the locations to come. Located just off the Las Vegas Strip, Minxx has created a playful, friendly, exciting and opulent atmosphere that is appealing to men and women alike. With its high concept design and 13,000 square feet of entertainment space, Minxx has raised the bar for cabaret entertainment. DR Entertainment intends to apply the same design and operational concepts to elevating the traditional experiences associated with Sports Bars and Local Gaming Taverns to a more exciting and comfortable level.
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