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Omega Commercial Finance Announces Official Approval From Port Authority In Cape Canaveral

Omega Royale to officially debut at second largest port in the world

eTN  Sep 23, 2008

MIAMI, FL (September 23, 2008) - Omega Commercial Finance Corporation, the parent company of "Omega Royale," is pleased to announce the official approval to berth its luxury casino cruise ship at its dedicated port in Cape Canaveral, Florida.

Strategic negotiations have been underway since the port became available several weeks ago. Final approval by the Port District Board of Commissioners at their recent committee meeting paved the way for Omega to gain the competitive advantage it's been looking for when it launches the "Omega Royale," the largest luxury casino cruise ship in the world. The terms of the approval grant exclusive use of cruise terminal Number 2 for the next 5 years with 5 additional yearly renewal options.

Port Canaveral is currently ranked the second largest port in the world. The "Omega Royale" will have good company, docked along side Disney, Royal Caribbean and Carnival Cruise Lines. The state-of-the-art terminal complex is more than capable of handling the approximately 2,000 passengers expected to board the "Omega Royale." Additionally, free parking is available for up to 890 vehicles.

Approval for the terminal was based in part on the Canaveral Port Authorities' feasibility estimate that the "Omega Royale" has the ability to attract a minimum of 1.2 million gaming passengers per year. According to recent gaming statistics, the average gambler brings approximately $98.00 in net gaming revenue, or an estimated $58 million per year. At this level, the "Omega Royale" would only have to achieve an annual occupancy rate of 43%, far below its maximum capability. Because of the port's size, location and popularity, the company feels that it can meet and exceed the commission's expectations.

As previously announced, the "Omega Royale" will be a 100,000 sq. ft. ultra-luxurious resort style casino vessel equipped with a 49,000 sq. ft. of state-of-the-art casino that will include approximately 500 player-tracking slot machines and 64 table games consisting of Baccarat, Black Jack, Craps and Roulette. The plush style casino will be spread over four decks, which will be connected via elevators and escalators. A complete Vegas Style Sports Book will afford gamblers the opportunity to wager 24 hours a day on various sport competitions. Resort style amenities such as multiple lounge venues, a Grand Show Room with headliner and production shows and expansive outdoor decks with several unique dining options will cater to the wide range of gamers the ship expects to draw. The company anticipates including luxury suite accommodations, a VIP lounge, a world-class Asian spa, business conference facilities and retail boutique shops. High rollers will also enjoy the luxury of having the ability to fly in on the vessel's VIP heliport while the ship is anchored offshore.

This unique ability to sustain constant gaming operations, mixed with the vessel's 2,000 passenger capacity, should allow for a consistent revenue stream for the company and its operations.

Jon S. Cummings IV, CEO stated, "This is a very exciting time for us. We consider the ability to conduct our gaming business out of Port Canaveral a monumental success. Originally, we had planned to launch the "Omega Royale" in the Tampa/St. Petersburg area. However, when this opportunity became available we knew that this port had the reputation and ability to deliver to us the consistent clientele we are looking for on a daily basis."

The anticipated launch of the "Omega Royale" is slated for the first quarter of 2009. The company is currently under negotiations for the lease of a smaller gaming vessel in order to start up operations out of Port Canaveral as soon as possible.

Omega Royale to officially debut at second largest port in the world

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