VANCOUVER, Feb. 7, 2014 /CNW/ - PV Hospitality ULC (the "Company"), a
newly formed partnership between affiliates of Paragon Gaming, Inc.
("Paragon") and 360 VOX Corporation ("360 VOX"), today announced the
establishment of this new entity and the appointment of Michael Graydon
as President, effective February 11, 2014.
"We are delighted to welcome Michael to PV Hospitality's senior team as
President," said Ned Goodman, Chairman of 360 VOX. "With an exciting
opportunity of growth ahead for our Company, we believe his
multi-faceted hospitality and marketing experience makes him the ideal
fit for our team. We are confident that his leadership and experience
will add tremendous value as we execute on our strategic business
Graydon will be responsible for managing the implementation of a
strategic business development plan that will see PV Hospitality
identify and operate destination resorts in North America and beyond.
His first priority will be oversight and operations of Vancouver's new
world-class urban resort adjacent to BC Place.
"I see this as a culmination of all I've achieved in my career, and am
committed to help make PV Hospitality the world's premier operator of
destination resorts in North America," said Michael Graydon, President
of PV Hospitality. "The Company's principals share my vision of
creating special experiences for local and international guests; making
significant and sustainable long-term contributions to the local
economy and community; and providing new business opportunities with
global impact wherever we operate."
Graydon leaves his position as President and CEO of BC Lottery
Corporation following 6 years of proven leadership focused on
innovation, creativity, strategic vision, effective communications and
Under Graydon's leadership is the new 675,000 sq.ft. (estimated) urban
resort that will complement BC Place and create approximately 2,000 new
jobs associated with the operation of the hotels, conference center,
gaming facilities, restaurants, fitness center, spa and other
facilities. Construction and development work will also create
approximately 4,500 local jobs. Once opened, the new facility will
generate an estimated $270M annually for the local economy through
resort operations and annual visitor spending outside the resort.
PV Hospitality ULC is an equal partnership between affiliates of Paragon
Gaming Inc. and 360 VOX Corporation. It is uniquely positioned to
provide comprehensive and fully-integrated hospitality management
services. This experience and approach will create sustainable value
for the Company's clients, partners, investors and other stakeholders.
About 360 VOX Corporation:
360 VOX is a publicly traded company, incorporated under the laws of
Ontario and listed on the TSX Venture Exchange under the symbol "VOX".
360 VOX is engaged in the business of managing and developing
international hotel, resort, residential and commercial real estate
projects through its wholly-owned subsidiaries. 360 VOX is also engaged
in the sales and marketing of real estate through Sotheby's
International Realty Canada and Blueprint Global Marketing.
For further information on 360 VOX please visit their websites at www.360vox.com and www.sothebysrealty.ca. 360 VOX's public filings, including its most recent audited
consolidated financial statements, can be reviewed on the SEDAR website
About Paragon Gaming, Inc.:
Paragon Gaming, Inc. and its affiliates are one of North America's
leading destination resort developers. The Company's principals are
responsible for the successful development and operation of numerous
landmark projects throughout North America.
Paragon purchased Edgewater Casino on Vancouver's waterfront in 2006 and
partnered with Dundee Corporation and 360 VOX in late 2013. The Company
will relocate the Edgewater Casino and its 650 employees to the new
urban resort on completion consistent with the City of Vancouver bylaw
passed in Fall of 2011. Paragon was also a joint partner in the highly
successful River Cree Resort outside of Edmonton until its successful
and planned ownership transition to Enoch Cree Nation in early 2014.
For further information on Paragon, please visit their website at www.paragongaming.com.
This news release may contain forward-looking statements and information
within the meaning of applicable securities legislation. These
statements reflect management's current expectations, estimates,
projections, beliefs and assumptions that were made using information
currently available to management. In some cases, forward-looking
statements can be identified by terminology such as "may" "will",
"expect", "plan", "anticipate", "believe", "intend", "estimate",
"predict", "forecast", "outlook", "potential", "continue", "should",
"likely" or the negative of these terms or other comparable
terminology. Forward-looking statements include statements with respect
to the construction and delivery of real estate assets are based on
assumptions that management believe are reasonable. These statements
are not guarantees of future results and are subject to numerous risks
and uncertainties, which may cause actual results or events to differ
materially from current expectations, including that any required
consents or approvals may not be obtained or obtained in a timely
manner and any conditions may not be satisfied or the project may not
be completed for other reasons. Although management believes that the
anticipated future results, performance or achievements expressed or
implied by the forward-looking statements and information are based
upon reasonable assumptions and expectations, the reader should not
place undue reliance on forward-looking statements and information
because they involve assumptions, known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to differ materially from
anticipated future results, performance or achievements expressed or
implied by such forward-looking statements and information.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy and accuracy of this release.
Image with caption: "PV Hospitality ULC Appoints Michael Graydon as President of Newly Formed Resort and Hospitality Company (CNW Group/Paragon Gaming, Inc.)". Image available at: http://photos.newswire.ca/images/download/20140207_C8343_PHOTO_EN_36412.jpg
Image with caption: "PV Hospitality ULC Appoints Michael Graydon as President of Newly Formed Resort and Hospitality Company (CNW Group/Paragon Gaming, Inc.)". Image available at: http://photos.newswire.ca/images/download/20140207_C8343_PHOTO_EN_36413.jpg
SOURCE: Paragon Gaming, Inc.
For further information:
Director, Corporate Affairs and Strategic Communications
Paragon Gaming Corp.