Ocean Fund International, a British Virgin Island Mutual Fund and owner of a large pornographic Internet site, www.sex.com, submitted an all cash, $3.6 billion offer for the purchase of eight Caesars locations. The offer is subject to approval by each jurisdiction's gaming commission: Caesars Palace, Las Vegas; Caesars Casino, Mississippi; Caesars Atlantic City, New Jersey; Caesars Pocono, Pennsylvania; Caesars Tahoe, Nevada; the river boat "Glory of Roam," Indiana; Caesars Manila; and all Caesars currently under construction in Africa.
In addition to the cash purchase offer, Ocean Fund has pledged an additional $2.5 billion in cash for improvements to the Caesars locations. One of the planned improvements is a sports arena at the Las Vegas Caesars Palace.
Sir William Douglas, Chairman of Ocean Fund, expects both the acceptance of the offer and gaming commission approval to move quickly. "We are looking forward with pleasure to making our records available for close scrutiny by the commissions. We are extremely proud of our demonstrated record of success- we will do no less with the addition of Caesars to the Ocean Fund leisure-and-luxury industry portfolio."
Sex.com is one of Ocean Fund's success stories. The adult Website has over 9 million members who pay $24.95 each month for access to the gigantic sex-related Internet site, which receives more than 146 million unique hits daily. Because of sex.com's popularity, advertisers on the 1,000 page deep porn site pay up to $1.5 million monthly to display their banners. Advertisers wanting to purchase premium advertising space on sex.com must face a waiting period of over one year.
"There are some people in this industry who claim to make a lot of money. In fact, sex.com does 86% of the sex-related business on the Web. We make more than Penthouse, Hustler, Playboy, and all other major sex Websites combined. I challenge anyone who claims to do more business in this industry to produce auditable numbers," said Douglas.
