SOURCE: Newland International Properties Corp.

November 15, 2013 15:17 ET

Newland International Properties Corp. Reaches $45.5 Million Deal With Sun International Limited

The Ocean Club Casino Operated by Sun International Will Open at the Trump Ocean Club International Hotel and Tower Panama in the Second Half of 2014

PANAMA CITY, PANAMA--(Marketwired - November 15, 2013) - Newland International Properties, Corp. (Newland), the developer of Trump Ocean Club International Hotel and Tower in Panama City, Panama, proudly announces the closing of a $45.5 million deal with Sun International Limited that will bring the world-renowned casino operator to Panama's most prized hotel. This partnership will introduce superior entertainment and an ultimate guest experience that is unparalleled in Latin America. This highly anticipated addition to the hotel is scheduled to commence construction in December 2013 and is expected to open in the second half of 2014.

Encompassing 75,000 sq-ft, the casino will occupy the second level of the 369 room award-winning hotel. It will include 32 gaming tables for blackjack, poker, roulette and baccarat, along with a superior collection of 600 slot machines showcasing numerous diversions for both the amateur and experienced gamer. Additionally, a fine-dining restaurant and revué bar & lounge will offer guests the finest of dining and entertainment experiences. 

On 66th level of the hotel, Sun International presents The Panaviera, an exclusive gambling space reserved for VIP guests. Here, the most valued clientele will also find an elite restaurant and lounge, with private suites available to a select few on the 65th floor, immediately below.

Sun International plans to invest a further amount of $60 million to build-out and fully develop the multiple spaces. Based in Johannesburg, South Africa, Sun International is a globally recognized public company with an impressive portfolio of 27 resorts, luxury hotels and casinos operating in eight countries. Within Latin America, they own and operate the Monticello casino in Chile. The company prides itself on successful leisure group offerings focusing on superior gaming, hotel and entertainment experiences that exceed customer expectations.

"We're thrilled to embark on our second venture in Latin America," said Graeme Stephens, Chief Executive, Sun International. "Latin America has become an area of focus for Sun International as we are applying for a casino license in Cartagena, Colombia and we are also looking to enter other countries in the region; we consider Panama to be a very important and strategic market for us and are delighted to be aligning ourselves with Newland and their award winning hotel."

This release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States by Newland International Properties, Corp. will be made by means of a valid registration statement on file with U.S. Securities and Exchange Commission and a prospectus that may be obtained from Newland International Properties, Corp. and that will contain detailed information relating to Newland International Properties, Corp. Any offers and sales of securities by Newland International Properties, Corp. will be made pursuant to such registration statement and prospectus. This press release is being issued pursuant to Rule 135e under the U.S. Securities Act of 1933, as amended.

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