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DETROIT, MI / ACCESSWIRE / September 13, 2024 / Atlantis Gaming Corporation ("AGC" /"Atlantis")(OTC PINK:ATIG) In a landmark moment that could signal the beginning of a new era for Atlantis Gaming Corporation (AGC), the company has achieved its first-ever profit. This milestone follows AGC's strategic acquisition of Lahser 6 Apartments in Detroit Michigan, marking a leap forward in the company's trajectory. Within just 90 days of operating the wholly owned asset, the property management team generated a positive earnings of $10,616; a modest but historic first profit for the company.
Strategic Vision Leads to Success
AGC's achievement is a direct result of the company's bold acquisition strategy, which emphasizes long-term value and community impact. In June 2024, AGC acquired the 54-unit Lahser 6 Apartments in a strategic equity swap - 75M shares for 100% equity, thus allowing the company to secure a highly valuable asset with over $1 million in developable equity. This calculated move positioned AGC for sustainable growth, and the results materialized.
"The inherent value of this transaction and those in the pipeline demonstrates the potential to unlock significant equity for AGC and our investors, given the proper structure" said Herb Strather, real estate strategist and partner in the acquisition. "We took a calculated risk, and we're seeing the rewards a little faster than anticipated. This is just the beginning."
Poised for Continued Expansion
Building on this momentum, AGC is set to expand its real estate portfolio, with plans to close on an additional 1 to 2 assets by the end of the year. These deals are expected to yield further equity growth, pushing the company toward its goal of becoming part of a dominant force in the booming Detroit real estate market. In fact, with 42 units of the Lahser 6 Apartments now 100% leased, AGC is already seeing strong results from its management strategy, and the company has placed its 22009 W. McNichols property on the market for $400,000 to generate further liquidity.
"Our strategic acquisitions and management practices are driving real value for AGC," said Linda I. Bailey, AGC Interim CEO following the founders Donald I. Bailey death last month. Furthermore she said "With additional transactions already in progress, we expect to see a compounding effect on our equity base. These real estate holdings represent more than just earnings-they're the foundation of AGC's future growth because AGC will have millions in asses to carefully launch our new initiatives".