EX-99
59
v031470_ex99.htm
EXHIBIT
99
Las
Vegas Resorts Corporation
Winner
Group Limited
Winner
Industrial Park, Bulong Road
Longhua,
Shenzhen City, 518109
People's
Republic of China
NEWS
RELEASE
WINNER
GROUP LIMITED UTILIZES APO
sm
SERVICE TO GO PUBLIC
AND COMPLETE $12 MILLION PRIVATE FINANCING
Shenzhen,
China, December 19, 2005 - Las
Vegas
Resorts Corporation (OTCBB: LVGC.OB) announced today the closing of a going
public transaction. The transaction involved a stock exchange with Winner
Group
Limited, a Cayman Islands company ("Winner"). The companies will operate on a
consolidated basis, executing upon the current business plan of Winner's
subsidiary companies located in the People's Republic of China ("PRC").
Immediately preceding the consummation of the exchange transaction, Winner
closed a private placement of its capital stock whereby it received $10.4
million in gross offering proceeds. Pinnacle China Fund, L.P. of Plano, Texas
was the lead investor in the Winner private placement.
As
a
result of the share exchange transaction, Winner's stockholders, including
participants in its private offering, were issued 42,280,840 shares of Las
Vegas
Resorts' common stock. As a result of the exchange transaction, Mr. Jianquan Li
was appointed to the Board of Directors of Las Vegas Resorts, senior management
of Winner was elected as executive officers of Las Vegas Resorts, and the
company's sole executive resigned. Immediately after the exchange transaction
was consummated, Las Vegas Resorts effected an offshore private placement
of
793,260 shares of its common stock to certain employees and suppliers of
Winner
and its subsidiaries, which resulted in $1.6 million in gross proceeds. Las
Vegas Resorts' shares are listed on the Over-the-Counter (OTC) Bulletin Board
under the symbol, LVGC.OB.
Winner's
business consists of research and development, manufacturing and marketing
of
medical dressings and medical disposables. Its product offerings include
surgical
dressings, dressing packs, wound care dressings, protective products, medical
instruments, dental products, hygiene products and home care
products.
Winner
is
a leading Chinese exporter of medical dressings and medical disposables.
In
fiscal year 2005, approximately 90% of Winner's products were exported and it
accounted for approximately10% of the total exports from China of these
products. Winner's products have been sold in approximately 80 countries,
including, Japan, Germany, U.S., Italy, Holland, France, South America, China,
Africa and the Middle East. Certain of Winner's products are registered with the
FDA, which gives it the ability to directly export such products to the United
States.
For
the
fiscal year ended September 30, 2005, Winner Group Limited reported consolidated
net sales of approximately $58.4 million and consolidated net income of
approximately $7.9million.
Mr.
Jianquan Li, the new Chief Executive Officer of Las Vegas Resorts, stated,
"We
want to thank our financial advisor, Halter Financial Group, for facilitating
our efforts in connection with our private financing and the going public
transaction. These transactions have given us access to the US capital markets,
with the hope of capitalizing on available growth opportunities".
APOsm
is
a
service mark of Halter Financial Group, Inc. ("HFG"). HFG's APO services allow
privately held corporations to go public via the reverse merger process and
simultaneously complete a private capital raising transaction.
FORWARD
LOOKING STATEMENTS
This
release contains certain "forward-looking statements" relating to the business
of Las Vegas Resorts Corporation and its subsidiary companies, which can
be
identified by the use of forward-looking terminology such as "believes, expects"
or similar expressions. Such forward looking statements involve known and
unknown risks and uncertainties, including all business uncertainties relating
to product development, marketing, regulatory actions or delays, the ability
to
obtain or maintain intellectual property protection, market acceptance, third
party reimbursement, future capital requirements, competition in general
and
other factors that may cause actual results to be materially different from
those described herein as anticipated, believed, estimated or expected. Certain
of these risks and uncertainties are or will be described in greater detail
in
our filings with the Securities and Exchange Commission. Las Vegas Resorts
Corporations is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as
a
result of new information, future events or otherwise.

EX - 99 59 v031470 _ ex99 . htm EXHIBIT 99 Las Vegas Resorts Corporation Winner Group Limited Winner Industrial Park , Bulong Road Longhua , Shenzhen City , 518109 People 's Republic of China NEWS RELEASE WINNER GROUP LIMITED UTILIZES APO sm SERVICE TO GO PUBLIC AND COMPLETE $ 12 MILLION PRIVATE FINANCING Shenzhen , China , December 19 , 2005 - Las Vegas Resorts Corporation ( OTCBB : LVGC . OB ) announced today the closing of a going public transaction . The transaction involved a stock exchange with Winner Group Limited , a Cayman Islands company ( " Winner " ) . The companies will operate on a consolidated basis , executing upon the current business plan of Winner 's subsidiary companies located in the People ' s Republic of China ( " PRC " ) . Immediately preceding the consummation of the exchange transaction , Winner closed a private placement of its capital stock whereby it received $ 10.4 million in gross offering proceeds . Pinnacle China Fund , L . P . of Plano , Texas was the lead investor in the Winner private placement . As a result of the share exchange transaction , Winner 's stockholders , including participants in its private offering , were issued 42,280,840 shares of Las Vegas Resorts ' common stock . As a result of the exchange transaction , Mr . Jianquan Li was appointed to the Board of Directors of Las Vegas Resorts , senior management of Winner was elected as executive officers of Las Vegas Resorts , and the company 's sole executive resigned . Immediately after the exchange transaction was consummated , Las Vegas Resorts effected an offshore private placement of 793,260 shares of its common stock to certain employees and suppliers of Winner and its subsidiaries , which resulted in $ 1.6 million in gross proceeds . Las Vegas Resorts ' shares are listed on the Over - the - Counter ( OTC ) Bulletin Board under the symbol , LVGC . OB . Winner 's business consists of research and development , manufacturing and marketing of medical dressings and medical disposables . Its product offerings include surgical dressings , dressing packs , wound care dressings , protective products , medical instruments , dental products , hygiene products and home care products . Winner is a leading Chinese exporter of medical dressings and medical disposables . In fiscal year 2005 , approximately 90 % of Winner 's products were exported and it accounted for approximately10 % of the total exports from China of these products . Winner 's products have been sold in approximately 80 countries , including , Japan , Germany , U . S . , Italy , Holland , France , South America , China , Africa and the Middle East . Certain of Winner 's products are registered with the FDA , which gives it the ability to directly export such products to the United States . For the fiscal year ended September 30 , 2005 , Winner Group Limited reported consolidated net sales of approximately $ 58.4 million and consolidated net income of approximately $ 7.9million . Mr . Jianquan Li , the new Chief Executive Officer of Las Vegas Resorts , stated , " We want to thank our financial advisor , Halter Financial Group , for facilitating our efforts in connection with our private financing and the going public transaction . These transactions have given us access to the US capital markets , with the hope of capitalizing on available growth opportunities " . APOsm is a service mark of Halter Financial Group , Inc . ( " HFG " ) . HFG 's APO services allow privately held corporations to go public via the reverse merger process and simultaneously complete a private capital raising transaction . FORWARD LOOKING STATEMENTS This release contains certain " forward - looking statements " relating to the business of Las Vegas Resorts Corporation and its subsidiary companies , which can be identified by the use of forward - looking terminology such as " believes , expects " or similar expressions . Such forward looking statements involve known and unknown risks and uncertainties , including all business uncertainties relating to product development , marketing , regulatory actions or delays , the ability to obtain or maintain intellectual property protection , market acceptance , third party reimbursement , future capital requirements , competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated , believed , estimated or expected . Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission . Las Vegas Resorts Corporations is under no obligation to ( and expressly disclaims any such obligation to ) update or alter its forward - looking statements whether as a result of new information , future events or otherwise .
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Generic_Info.ANNUAL_REVENUES I-Generic_Info.ANNUAL_REVENUES O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O