Supplier News
Nicaragua – Bravo enters new casino business venture
By Lewis - 18 May 2016
Bravo Multinational Incorporated (BRVO) has completed an acquisition transaction on May 6, 2016 with Centro de Entretenimiento y Diversion Mombacho S.A., a respected and established company with its head-quarters located in Managua, Nicaragua.
As part of this transaction, Bravo has purchased in total 500 slot and video poker gaming machines, in a part stock and part seller financed transaction. All machines have been fully nationalised (import taxes paid) and are to be operated under a long-term (year 2033) countrywide national licence.
Paul Parliament, Bravo CEO, stated, “We at Bravo are very excited to move forward with this aggressive project for which we see very positive future rewards. Also, the many additional doors it will open and the foothold this will establish for BRVO in Nicaragua is extremely promising. The current economic climate in Nicaragua is very positive with data showing in 2015 an economic growth rate of 4.9 per cent driven by high growth in the construction and manufacturing sectors.”
Julios Kosta, Centro de Entretenimiento Diversion Mombacho S.A., President, stated: “My company has strong established business connections with over 14-years gaming experience in the Nicaraguan marketplace and through out Central and South America, which will provide numerous long-term benefits and support for this new relationship with Bravo. We look forward to working closely with Mr. Parliament and his team to develop not only this transaction but to also expand into many other mutually beneficial business opportunities.”
Bravo Multinational is a diversified Company, with casino equipment holdings in Central and South America as well as gold/silver mining properties and claims in North America.
