CLEARWATER, FLORIDA, Nov 19, 2010 (MARKETWIRE via COMTEX) -- Eline Entertainment Group Inc. <span id="quote728894548" class="quotepeekbase
This new incentivized agreement with provides LTGTR riders with $25-$35 in gaming chips and a $5 food voucher when booked for the Hard Rock Casino. LTGTR, will experiment and plans to start running shuttles to the Hard Rock, charging $25-30 for round trip services. The deal is conditionally approved and subject to pending insurance verification. The company sees this as a simple administrative task, and to be resolved shortly.
Preliminary research shows strong support with the company running 14 casino runs a week, with each shuttle generating an average of $750 in revenue with 60-70% in gross profit.
"We are looking at creative ways to keep the buses on the road. As they are running not only are they generating revenue but they are advertising. If you are running a bus during the day for Hard Rock shuttles and then booking nightly runs at Gross Profit Margins of 70% you are doing very well.
We are very excited with the Vu365 merger which helps our plans with the college shuttle program and also will introduce the Vu365 to a new gaming audience. We had extremely favorable talks with Vu365 and believe they can help us extensively with our unique programming needs, and we can help them bring Vu365 gaming to an American audience. This is a win/win for LTGTR, Vu365 and the shareholders of EEGI," Debra Davis President of LTGTR.
LTGTR, which provides the premier "party on wheels" experience, intends to increase revenue streams through adding standard shuttle routes and joint ventures with popular venues such as this one. LTGTR has begun by creating Luxury Shuttles designed to travel from regionally isolated areas to populated hotspots. This includes a division of "Safety Shuttles" geared towards college students, intended to give "of-age" students the ability to enjoy nightlife without the hassle of designated drivers, parking fees, etc. These shuttles will run along a scheduled route, delivering riders to pre-contracted venues which provide customer discounts and/or incentives. The Company is currently in talks to purchase competing businesses with synergy to the new business model of LTGTR.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Eline Entertainment Group, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Eline Entertainment Group, Inc. cautions you that any forward-looking information provided by or on behalf of Eline Entertainment Group, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Eline Entertainment Group, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Eline Entertainment Group, Inc.'s control. In addition to those discussed in Eline Entertainment Group, Inc.'s press releases, public filings, and statements by Eline Entertainment Group, Inc.'s management, including, but not limited to, Eline Entertainment Group, Inc.'s estimate of the sufficiency of its existing capital resources, Eline Entertainment Group, Inc.'s ability to raise additional capital to fund future operations, Eline Entertainment Group, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Eline Entertainment Group, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Eline Entertainment Group, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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SOURCE: Eline Entertainment Group, Inc.
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