Description of Neighborhood and Lot

The parcel of land that is subject to appraisal pertains to a flat topography polygon. The total area is 6,591.45 m².

The neighborhood is constituted by a medium sized, tourist city, along the coast, with mountainous area, facing the Atlantic Ocean. It has all public services: paved roads, sidewalks, curbs, pluvial drainage, and potable water, and electricity, private telephone services local and International cable TV.  The area is inhabited by approximately 40% percent local nationals and 60% foreigners.  The location has a beach area, stores of all types, bars, restaurants, guest houses, hotels, apartments and everything connected with that type of environment that rapidly expanding  population and business growth.

This tourist city of Sosua is 12 miles (25 km) away from the city of Puerto Plata. Puerto Plata is the largest and most developed city in the Dominican Republic along its North Coast.

The international airport is located only 4 miles, (9 km) away from the tourist centre of Sosua. It is the second largest airport in the country with international flights going to South and North America, Canada and Europe with regularity, as well as Charter flights offered by local tourist agencies.

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Description of Building and Improvements

The description of the Building and land which has the corporate name of “Casino Playa Chiquita International” is as follows.

Construction:

The original building was designed and structurally prepared for three stories, but presently has one level with an area of 1,800 square meters. It has a mezzanine of 600 additional square meters where there employee break areas, a managers apartment and additional storage. In addition it has an area of 60 square meters where the storage for maintenance, electric plants and air conditioning equipment is located.

The property has a design for a second and third story addition which was to include, 18 first class Suites intended for first class players.

Characteristics:

The front or façade of the building and the interior decoration are allegoric to the Fifth Centennial of the America Discovery. Exterior has good circulation for pedestrians and vehicles. The floor is finish with stone and concrete tiles. There are flower boxes, a stairway and marble tile at the entrance.

The entrance door is made of mahogany leaves and ornamental panels also made of mahogany, which is inlayed with allegoric stained glass and a translucent dome over a metal frame (aluminium) with indirect focus lighting.

In the interior circulation area has marble floors, a carpeted gaming area and office area. There are allegoric walls with translucent a ceiling in the bar area, over a metal (aluminium) frame.

 The area of Roulette machines, Poker Tables, Black Jack tables, and Dice gaming tables is panelled in black and red with embedded lighting.

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Equipment: Casino Playa Chiquita International

Cummins 125 KW electric Generator (Three-phase)

4 Air Condition Units for the gaming area

1 Air Condition Unit for the office

Completely new Air conditioning System, brand name: Carrier

1 apartment with 2 bedrooms, 2 bathrooms, completely furnished and aircondition

43   Slot Machines brand name:  Universal

08 Slot Machines brand name: Bally

16 Slot Machines brand name: Atronic

10 Slot Machines brand name: Aintsworth

6 Roulette Tables (three tables in use)

1 Dice – Craps Table (not in use)

2 Caribbean Stud Poker Tables

2 Three Card Poker tables

8 Black Jack Tables (four in use)

6 Texas Hold’em Poker (two tables in use)

1 new nightclub ; with seating for 400 persons, 2 Bars, a completely, two dance floors There are two entrances for the nightclub and it has been completely sound proofed to reduce conflict with the gamming areas.

1 Kitchen

1 Casino Bar

Executive Offices Area

Sub-managers Office Area

2 Bathrooms for employees

2 Bathrooms for clients

The building has plenty of potential for the further expansion of gaming and lodging.