Black Sea Galaxy V2.5

2. Eddie Felson
International gamble research
expert / famous actor
Gamble is one of the
oldest Businesses
It has existed thousands of years and was first
recorded in around 2300 B.C.
“The happiness To
win is twice more than
making money”

3. Do you know
Poker originated in China?
Chinese people invented
paper, then paper money,
and then poker.
They soon learned how to
shuffle notes, by which
way shuffle poker cards
was created.
In about 2000 years ago China
invented Keno(father of lottery),
the earnings from this game
were said to have funded the
construction of the Great Wall.

4. Global land casino
total“Wins”in 2015
3540
82$The annual cost on
gambling of each adult
in the world
Two in three adults
will gamble
In 2015
$
Bn

6. IRC
What is IRC Integrated Restaurant Casino?

7. An IRC integrated restaurant casino has 3 main features
1. Integration
Contains one or more major casinos with other leisure and entertainment
facilities such as shopping, conference facilities and nightlife.

8. 2. Attract all kinds of groups
Attract gambling and non-gambling customers, local and foreign tourists and
super high value regal gambling customers

9. 3. Huge scale
IRC integrated restaurant casino owns huge
operation, huge place and large building area, a lot of
gambling tables, large investment cost and
huge potential profit

10. Welcome both tourists and gambling customers
So what makes IRC integrated restaurant casino better than
usual casinos?
Various sources of income-more flexible during recession
Greater profit potential
Attract more super high value regal gambling customers,
accounting for half of casino revenue
Consumers are willing to spend more time in IRC
integrated restaurant casino

11. So what makes IRC integrated restaurant casino better than usual casinos?
Fig1: Consumers are willing to spend more time in IRC integrated restaurant casino
2 h+
12% 3%
62%
8%
60 -120 min
26%
90%
< 60min
Casino with no additional facilities
IRC integrated restaurant casino

12. AnIRCintegrated
restaurant casino can be said to
be a leisure destination
Actually, tourists to Las Vegas
mainly for leisure instead of
gambling.
Fig2：Main reason to Las Vegas
Resource： survey on tourists to Las Vegas in
2014
Other
business
1%
Marriage
3%
Pass by
5%
Other
business
6%
Special
activity
7%
Meeting
9%
Visit
friends
11%
gambling
12%
Vacation
47%

13. Fig3：IRC integrated restaurant casino: Earnings
before interest, tax, depreciation and amortization
（EBITDA）in 2015（selected huge IRC）
EBITDA
margin
51% 25% 36% 29% 38% 30% 25% 27% 30% 34% 30% 24% n/a 13% 35% 26%
Marina Bay
Sands
Galaxy
Macau
Venetian
Macau
City of
Dram
Macau
Resorts
World
Sentosa
Sands
Cotal
Centra
l
Wynn
Macau
MGM
Macau
Crown
Melboume
Genting
Highlands
Wyn
Las
Vegas
Star
World
Macau
Bellagio Grand
Lisboa
Four
Seasons
Macau
Sand
Macau
1,506
1,145
1,079
799
671 652 604 602
498 497 477 404 395
278 243 226
Las Vegas
Macau
Singapore
Australia
Malaysia
IRC is very profitable,
Marina Bay Sands in
Singapore generated
over one billion USD
EBITDA and other
IRC generates only
0.6
billion
USD
EBITDA in average

14. The recovery of overall revenue
of the Las Vegas Strip is driven
by the gambling industry.
Revenue($m)
总额
非赌博业
赌博业
6.5%
7.8%
4.8%
CAGR
2000 - 2007 (5.7%)
(4.6%)
(7.3%)
CAGR
2000 - 2007 4.8%
6.1%
2.5%
CAGR
2000 - 2007
Non-gambling industry
rebound faster
The increasing speed has
exceeded the rebound
speed of gambling
industry
1
2
Fig 4：Revenue evolution of the Las Vegas Strip
during 2000-2015
Las Vegas is a good example to show how to own multiple revenue sources to
make IRC more flexible during economy recession.

15. Create
JobsConstruction &
operation
of gambling and
other industry
Taxation
Attract other foreign
Direct
Investment
increase
tourists
number and
staying time
Support
Tourism
IRC’s attraction to government
Can invest in public
infrastructure
IRC

16. 47
different restaurant casinosOpen in 1989
23 restaurant casinos of
the 47 have a revenue
of over 70 million USD
The tourists
numbered 42
million in 2015
Revenue of gambling industry in 2015 totaled
6.3 billion USD
Main examples of IRC
L a s Ve g a s S t r i p

17. Two big IRC
Marina Bay Sands &
Resorts World Sentosa - Festive Hotel
MBS in Singapore is the
most profitable
IRC
In 2015, 7 million
tourists came to Resorts
World Sentosa-Festive Hotel
Singapore
Open in 2010
Total revenue of gambling
industry in 2015 was
4.8 billion USD

18. The tourists
numbered 3.1
million in 2015
Macau
Open in 1970
36 casinos
Total revenue of gambling
industry in 2015 was
28 billion USD

19. Why Europe?
0The number of IRC in Europe
today
Europe is a new and
undeveloped market
Chances to be the first
shareholder to create
IRC
The chance of IRC in Europe continent!

20. Why choose Europe?
According to the international monetary organization global gross national product
GDP Report :
USA: 17.9million USD
Europe:16.2
million USD
China:11.4 million
USD
Residence
of
billionaires
in 2016
Big
IRCs

21. Third
Europe is
world’s third
largest gambling
region
Global gambling revenue in 2015 categorized by type and area
North America Asia and Middle East Europe
Latin America and Garibbean
Oceania | Africa
interaction
Lottery
Bingo
Slot machine
casino
Betting

22. 32%
of the rich can
arrive in Europe
within
4 hours
of flight
%ofGlobalUHNWIPopulationwithin
4HourFlightTime
37% 32% 21% 15% 2%
EUROPE
MACAU
More rich
people live
where nearer to
Europe than
Macau

23. Among the world’s top
20 meeting
destinations
15 are in
Europe
In 2015, among
the countries
with the most
tourists, 5
were in Europe

24. Europeisalso Stable and pressure
free travel place
With convenient traffic
connection
The number of Chinese tourists including
rich people is increasing( Chinese
outbound passengers from 2009 to 2014
increased 11%, first-class passengers
increased 25%)
40%
It’s expected that the
increase rate of rich
people in the
Middle East and Russia
in the future 10 years
will reach
32%

25. Restaurant revenue in
Bulgaria increased 29% in
June, 2016.
Bulgaria was rated by
SkyScanner as one of the most
valuable vacation destinations
in 2016 It’s estimated
that10.3 million
tourists will come to visit
black sea coast in this summer
During Jan.-May. 2016, 20
millionforeigners
came to visit Bulgaria
In the past 25 years,
2016年
is the most successful year for
tourism
In 2016, British travel agent
Thomas Cook adds
50,000 airline seats to
Bulgaria
Booming tourism
Why choose Bulgaria to create
the first IRC in Europe
Holiday booking from Jan.-Mar. 2016
increased 76% than that in 2015

26. Bulgarian Tourism Minister declared the
year 2016 the most successful year for
tourism
Famous travel service operator :
Black sea in Bulgaria is the first travel
destination for the British

27. Sofia, Plovdiv and Burgas along the Black sea coast
are the most favored tourist destinations for
Europeans and Americans

28. In the summer of 2016, 10.3 million
tourists will come to Burgas black sea
coast
Hotel occupancy rate in June, 2016
increased 29% than that of 2015

29. Bulgaria is becoming a hot tourist
destination in Europe
Germany Travel Weekly:
People all want to spend vacation
this summer along the black sea in
Bulgaria

30. Increasing
Economy

31. Bulgarian national bank has been Europe’s thriving
profitable bank with the profit of nearly 50% in a year.

32. Bulgaria registered six-year peak in FDI
in 2016

33. It’s estimated that Bulgarian GDP will grow by 2.5% in
2016-2017

34. Bulgarian residential property market will strongly
increase in 2016

35. Lowest labor costs in the EU
Average monthly salary of $534
Lower social insurance costs
Lower public utility costs
Lowest operating
costs in the EU
Lowest construction
costs in the EU
Low labor and construction material costs
Most favorable tax
system in Europe
Enterprise income tax rate is10％
- lowest in EU
Personal income tax rate is
fixed-10%

36. Strategic Position
Over 70.7 billion people live
only 3.5h of flight to Burgas
Airport
Over 40 flight per day from
Moscow to Burgas
It’s only
3h of flight from London
to Burgas
For over 17million people,
it takes 45 minutes flight
from Istanbul to Burgas.
It’s 400km’s drive from
Istanbul to IRC.
It’s forbidden to gamble in Turkey, it
will be the largest market for us.

37. Stable Currency
Monetary stability
in Bulgaria is
supported by
monetary authority
pegged to Euro at
1.96Member of WTO
and NATO
EU member
since 2007

38. Bulgaria has already been Asia’s
Investment
Destination

39. South Korean Foreign Minister firmly believes in
investment opportunities on Bulgaria

40. Bulgaria will build hotels, marinas and airports with
the 270 million EUR from Chinese investors

41. China invest 20 million EUR in Bulgaria’s harbor
construction to facilitate trade with Europe

42. China and Bulgaria have signed agreements for
cooperation in Air, land and Water transportation

43. China will invest to build largest new industrial zone
in Plovdiv

44. Shanghai and Sofia sign intent agreement to become
sister cities

45. Reuters: Chinese firms will invest 2 billion EUR in
Bulgaria

46. Turkey’s investment institutions (Malaysia
investment party):
Buys Bulgaria’s Largest private hospital group

47. China’s JAC will start building electric
vehicle construction plant in Bulgaria

48. Bulgarian Development Bank will step up ties with
China’s ICBC

49. Bulgaria-China joint venture will turn 90% of first
agricultural products back to China

50. China's interest in Bulgaria is growing because of its strategic position on the new
Silk Road
“The Belt and Road”
A Chinese development strategy starts
in 2013.
New Silk Road economic zone runs
through central Asia and western Asia,
connects China and Europe. And the
maritime Silk Road in 21 century will
connect China and southeast Asia
countries, Africa and Europe.
The road map allows China further
integrate into the world economy and
strengthen its influence in the areas
along the road.

51. Bulgaria and China signs investment agreement on
new Silk Road

52. Railway passing via Bulgaria’s Burgas--- the first
stop in Europe, to link China and Europe

53. Bulgaria eyes key role on China’s new Silk
Road Strategy

54. It’s estimated that
about
ten thousand Chinese
are living in Bulgaria
currently
The number o f C hinese liv ing in Bulg a ria is increa sing

55. More and more Chinese group activities, festivals
and events are held in Bulgaria

56. Bulgaria sets up Chinese Confucius Institute-
embracing Chinese language and culture

57. Bulgarian vice president made a speech at China-
Bulgaria Chinese Spring Festival Gala

58. Many Bulgarian political figures attend China-
Bulgaria Chinese Spring Festival Gala

59. Congratulation from Bulgaria: Happy Chinese new year

60. Chinese Cinema Festival Kicks off in Bulgaria

61. Good performance record in
providing high quality residence and
business development area
Corestone – preferred partner in Bulgaria
Neil O Reily David Goh
Established in
2003
experience in the
real estate industry
30years of

62. Specialize in
Bulgarian market
develop along the black sea coast
and Sofia
Set up Corestone to
expand its business to
Asia
Headquartered
in Bulgarian capital-
Sofia, and Asia office is in
Singapore
Rich experience Development
Large stretch in key location

63. Neil O Reilly
CEO
Experienced developer
Set up in 2003 in Bulgaria
• Raised more than 500 million Euro from investors
• Has completed over 3000 residential and commercial
units
Has obtained multiple international
industry awards
• The best developer in Bulgaria
• The best spa developer
Obtained first class investment
certificate issued by Bulgaria
government

64. David Goh
CFO
Over 20 years of senior financial experience
CPA Six Sigma Black Belt Holder with Blue Chip
work experience
• Anyong Accounting Firm
• General Electric
- Over 300 million USD structured financing
mergers and acquisitions in Southeast Asia
- Two branches were listed in Singapore, raising 1.2
billion USD
• CapitaLand
• Channel Resources

65. More than
1,400employees
Our future projects include
Integrated Hotel Casino
development
first-class beach resorts, senior
residential apartments and 5 star
luxury villa manor
Over
investment groups engaged in real estate,
construction, agriculture and leisure
65

66. Mutual development,
shared benefits
Customer
first
Ensure that all the needed lands are
bought in cash before inviting
investors to minimize
investors’ risk
Provides investors with unique
opportunities to participate in the
development process ,
from design&
planning to
completion

67. DiversifiedReal estate investment portfolio
 Integrated development
 Skiing resort
 Offices and residences

68. July, 2004
Deserted Pomorie, Bulgaria
www.sunsetresort.bg

69. Completed development projects
Biggest 5-star resort in Europe | Has won multiple awards
Sunset resort, Pomorie, Bulgaria
www.sunsetresort.bg

70. Completed development projects
Water park Opened in July, 2016
Only 100 meters to Europe’s largest 5-star sunset resort
www.sunsetaquapark.bg
Sunset Aquatic Park, Pomorie, Bulgaria
Over 30 Water Slides

71. Completed development projects
Brussels business center, Sofia, Gallia
The most advanced
comprehensive commercial
center
Three office buildings of 65
meters
International brand hotel
Situates in Sofia Airport Office space of 20,000 sqm

72. Completed development projects
Skiing resort, Blagoevgrad, Bulgaria
Hotel with total
110 beds
Classical cabin with
39 beds
Villa with 27
beds
Ski Lift
Pubs & Restaurants Specialize in local tourism market

73. Further development plan of skiing resort
Ski area
Accommodation for
10,000 people
Planned investment is
355 million Euro
Comprehensive transformation
of current development
New infrastructures and
redevelopment of existing
infrastructures
Development of mineral
spring and spa center

74. Completed business projects
Spa& Health center, Pomorie, Bulgaria

75. Completed business projects
Fitness and leisure, Pomorie, Bulgaria

76. Specializes in land reserves and
food production
Ministry of Agriculture

77. Completed agricultural projects
Sunflower seed planting garden, Jambol, Bulgaria

78. Held activities
European League football match of under 15 years, the international Corporate Events and
Celebrity Wedding in 2015

79. Awards

80. Grandeur Casino Black Sea Galaxy Resort
Will build 2 restaurant
casinos in Bulgaria in the
next 5 years

81. The biggest casino in Europe,
locates in
Europe’s largest 5-star hotel
Sunset resort, Pomorie, Bulgaria
Grandeur Casino

82. The pictures of the first phase and second phase of sunset restaurant are objective pictures
and the picture of the third phase is design sketch
Grandeur casino
The third phase
The second
phase
The first phase
Established long-tern relationships
with Europe’s largest
travel agency
www.sunsetresort.bg
Sunset Resort
The first and
second phase
Fully completed
Operation
over 10 years
More than
250,000
checked in in 2016
Full occupancy
in 2017

83. The third phase of
Sunset resort
Grandeur
Restaurant
Casino
Sunset
Aquatic park
Two hotel
buildings
Grandeur
casino

84. Sunset Aquatic Park
Open in
July, 2016
www.sunsetaquapark.bg
,000 square
foot
Aquatic Park
250

85. Grandeur Restaurant Casino
5-star Two hotel buildings
Building and 348 apartment rooms
Start construction in the first
quarter of 2017

86. A big
gambling hall
3
Gambling VIP room
Start construction
in the first
quarter of
2017
G r a n d e u r C a s i n o
The largest casino in Europe
30000 square foot
gambling area

88. P l a n n e d l o c a t i o n o f G r a n d e u r C a s i n o i n t h e S u n s e t A q u a t i c P a r k
The symbol “X” indicates only the planned location of the casino of 30000 square foot

89. Senior Member Club only
Locates in the first floor of
Grandeur restaurant
Enters through the hotel
lobby directly

90. Excellent location
The biggest
5-star resort
in Europe
Only 7 min driving
from Burgas Airport
Directly enter
Sunset Aquatic Park
Why Grandeur restaurant casino?

91. Building area with completed formalities
 Planning approval and partition design of the 2 buildings
have been completed
 The planning approval of Grandeur casino is estimated to
be completed by December,2016
 The construction can be started quickly
Existing Infrastructure and tourism base
 Existing management infrastructure and tourism base of
Sunset resort can be utilized

92. Main Reason
It’s very profitable to run a casino

93. Project Schedule
In the 2nd quarter
of 2018
Complete
construction
04
In the 4th
quarter of 2014
completed the
planning and
partition of the two
buildings
01
In the 4th
quarter of 2016
Completed planning,
partition and design
of Grandeur casino
02
In the 1st
quarter of
2017
start
construction
03
In the 3rd
quarter of
2018
Open
05

94. The first IRC in
Europe
The first Super 5-
star hotel in Bulgaria
will locates in Burgas in
Bulgaria along the black sea

95. Global Exclusive Management
Partner

96. Designed by world’s top Casino Architect
The resort will include a world class casino, one
international hotel with 2000 rooms, 4000 hotel style
apartment rooms,
Commercial shopping malls, spa and health centers,
and etc.
The scale and the breathtaking
design of the resort will make it
one of the landmark buildings in
Europe and a landmark of
Bulgaria.
Land of
10million
square foot
An estimated
total building
area of 7.7
Million square
foot

97. Black Sea G alax y Casin o w ill b eco me th e b ig g est in Eu r o p e
26,900 square foot
gambling area
Estoril, Portugal
The currently biggest casino in Europe
450,000 square foot
gambling area
Burgas, Bulgaria
Black Sea Galaxy Casino
The biggest casino in Europe
in two years will be the Grandeur
casino of
30,000 square foot

98. Ranking Name of Casino
Area
（square
foot）
Number
of rooms
01
The Venetian Macau
Resort Hotel Casino
546,000 3,000
02
Black Sea Galaxy Casino
(When completed)
450,000 2,000
03 City of Dreams Macau 420,000 1,400
04 Foxwoods Resort Casino 340,000 824
05 Casino Porte 16 Macau 270,000 423
06
South Africa Rio Casino
Resort
266,330 70
07 Sands Casino Macau 229,000 51
List of IRCs in the world in 2015
*Based on the gambling hall area.
World’s second largest casino

99. Black Sea Galaxy Resort
An international hotel with
2000 rooms,
Provide luxurious and noble
accommodation for guests
4,000 hotel style
apartment
rooms
and limited luxurious
modern lofts

100. The Bulgaria’s first high-end
shopping street including
International Luxury
Brand
Clothing, handbags, accessories, shoes, watches and
jewelry of world’s famous international brands
Black Sea Galaxy
brand shopping street

101. Asian Village
Europe's first greenhouse
Asian Village
Provide best dishes of Asian countries
Full of Asian characteristics
Black sea galaxy resort
goods and souvenirs
Buy Asian traditional
Building with Asian characteristics, design
features and elements
Stores and restaurants

102. Project Review
1
Super large world class Casino
2,000
Hotel rooms
4,000
apartments,
including limited
luxurious top
floor apartment
rooms
1
High-end
shopping
mall
3
nightclubs
1
International
Convention
and Exhibition
Center
2
Grand
theatres
5
greenhouse Asian
villages
8,000
construction
jobs in peak
Over 9,000 operators
planned to finish in 2021

103. 4,000
apartment
rooms
Including limited
luxurious top floor
apartment rooms
9% annual profit in
house property
investment
as long as three years
Fixed lease
payments held in
escrow accounts during
the contract period
Complete
management and
maintenance by
experienced team
Hotel style apartment

104. Project Area
Location
Burgas, Bulgaria
Acquisition time
January, 2005- July, 2016
Area
10 million square foot
Land acquisition
100% complete cash purchase
Ownership
Permanent
Total building area
+7.7million square foot

105. Expected annual visits
5,000,000 passengers
Estimated annual gambling
revenue 1.43 billion
Euro
Casino operations forecast

106. Black Sea Galaxy Resort
Estimated annual revenue
Company
conservative
valuation at 10 times
of 8.945 billion euro
* Company valuation is 10 times of the
company's profits
**the numbers have been rounded up to
integers
***the profit rate is calculated before
rounding
Revenue
（Euro）
Hotel 357,700,000
Casino 1,430,000,000
others (shopping malls,
nightclubs and etc.)
103,542,000
Total 1,891,242,000 **profit
rate
***profit （euro）
48% 894,509,400

107. Ten times estimated
earning is easy
Wynn Resort
PE ratio：30 times
MGM Bellagio
PE ratio：50 times
Genting Berhad
PE ratio：22 times
Grand Lisboa
PE：20 times
10 times 20 times 30times

108. 2016
the 4th quarter
official release
2017
the 2nd quarter
overall planning
is completed
2017
The 4th
quarter
partition is
completed
2018
the 2nd
quarter
planning is
completed
2018
the 3rd quarter
Lay foundation
2018
the 4th
quarter
Construction
start
2019
the 2nd
quarter
Infrastructure
is finished
2021
the 2nd quarter
Open
2023
The 2nd quarter
To be listed in EU
Proj e c t sc he dule

112. The first IRC in Europe
Gambling and real estate investment
have great profit potential
economic growth and booming tourism
of undeveloped market
project development by
experienced developer
Exciting opportunities
You will be the boss of
world’s 2nd largest
casino
1
2
3
4
5
Black Sea
Galaxy Resort
5 unique investment
opportunities

113. Europe’s first world class IRC resort
A global golden investment opportunity

114. Global Exclusive Management
Partner

115. Disclaimer of Liability
Our company accepts no liability for the content
of this presentation or for the consequences of any actions taken
on the basis of the information provided,
unless that information is subsequently confirmed in writing.
This presentation and any files transmitted with it are confidential
and intended solely for the use of the individual or
entity to whom they are addressed.
This message contains confidential information
and is intended only for the individual named.
If you are not the named addressee you
should not disseminate, distribute or copy this e-mail.
Please notify the sender immediately by e-mail
if you have received this e-mail by mistake and
delete this e-mail from your system.
If you are not the intended recipient you are notified
that disclosing, copying, distributing or taking any
action in reliance on the contents of this information
is strictly prohibited.