Fin City Associates, a business development subsidiary company of Seattle-based Alekson Development Group (ADG), has announced the signing of a licensing agreement with Fundacion Pediatrica Guatemalteca (FPG), the Guatemalan Gaming Agency, for the development of an unprecedented six world-class casino/hotel/golf destination resorts over the next 10 years. Since September 22, 1989, non-profit FPG has focused on the care/education of Guatemalan children and has exclusive Guatemalan gaming authority through the Guatemalan Congress Accord 746-89.

The gaming destination resorts will be advanced in Guatemala City, Puerto Quetzal, Puerto Barrios and Lake Atitlan starting second quarter 2009. Jim Alekson, ADG President, said: “Securing six casino licenses from the Guatemalan gaming authority clearly demonstrates the strength of Fin City and Alekson’s development strategy. Our close association with Dr. Genaro Morales Padilla has given us the competitive edge we need to become the premiere casino/resort developer in Guatemala.”

Through affiliate Alekson/GW, Group West Companies is assigned the task of capturing the true Guatemalan spirit in master-planned resorts with lush, natural landscapes, waterscapes and tropical-inspired architecture reflecting Colonial, European and Mayan historical influences while employing the principal of “entertainment convergence”.

Alekson added: “With our shared vision and the finest showcase locations in Guatemala, we look forward to creating world-class gaming/resort destinations together with employment opportunities and training for thousands of Guatemalans.” The properties will be built “through integration of multiple broadly appealing entertainment elements including world-class hotels, luxury spas, retail villages, chef-branded restaurants, live entertainment venues, international marinas, and in some instances, world championship golf courses that will provide guests with exceptional experiences”.

Fin City Associates, S. A. is a Guatemala-based business and real estate development company headquartered in Guatemala City. With international partners from the United States, Canada, Guatemala and Venezuela, the company strives to build and operate financially and environmentally sustainable developments while preserving the heritage of Guatemala and providing much-needed local jobs.

ADG, with more than 25 years of professional experience in developing and managing ground up mixed-use real estate assets, provides development strategies for the programming, development and management of Guatemalan resort and real estate operations, including being the U.S. representative of Fin City Associates. In association with GW harnesses and Group West Companies, ADG have collaborated in the development and management of international real estate assets in excess of $500,000,000. (E-11.13.08)

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