While many people have already lost huge sums of money due to the volatility of Bitcoin, Calvin Ayre, a multi-millioniare who made his fortune from the gambling industry has managed to take his massive profits from earned from Bitcoin investing and develop a new five-star resort.
The Ayre Group recently announced that they are building a $100-million upscale resort at the Antigua Valley Church beach. The million dollar capital being funneled into the project was claimed to be entirely from the profits generated from trading Bitcoin. The company has confirmed that design work on the resort is already underway and they are targeting to commence work on the site by the end of the summer.
Calvin Ayre Pours Millions Into The Caribbean
According to Calvin Ayre, chairman of the Ayre Group, the creation of the resort was spurred by his talks with the Government of Antigua and Barbuda, who are currently doubling down on their efforts to develop upscale tourism in the area.
In a statement, Ayre said, “This resort will attract a totally new market segment of tourism on the island – successful wellness seekers who also want to have fun. We are focused on creating for a very special market, a world-class resort and unforgettable experience, but also one which benefits the broader economy across the whole island.”
Gaston Browne, Prime Minister of Antigua and Barbuda voiced his support for Ayre and believes that the new Ayre resort will drive tourism to islands which will in turn boost their economy.
Ayre has made several investments in Antigua and Barbuda over the years and is highly regarded by the government. The Government of Antigua and Barbuda released a statement last year which complimented the efforts of Ayre in bringing employment to the country through the construction of his $25-million high-rise office complex at Friar’s Hill Road and the expansion of his business in the island nation. The new resort will be another one of his investments that the government believes will further strengthen their nation.
Bitcoin Friendly Resort Will Promote Bodog Online Casino
Ayre added that the amenities of the resort will be open to all locals and foreign tourists alike, and will seek to highlight the culture and history of Antigua. In terms of accommodation, they are planning to build 80 huge studio suites and 30 luxurious one-bedroom suites for rent and 8 town houses, 8 luxury condominiums and 3 villas which will be for sale.
Since the resort is built on crypto profits, the resort will be accepting Bitcoin Cash as a mode of payment in all terminals across the property. According to Ayre, they have chosen to use Bitcoin Cash, the crypto that forked from Bitcoin last year, since it has one of the lowest transaction fees at the moment and unrestrained scalability.
The resort will also include in its facilities the Ayre Wellness Centre and Spa and a Bodog Casino Club which is Ayre’s controversial online casino. The Bodog brand was in the news in 2017 as Ayre finally settled his five year-long case in the United States, where federal prosecutors pursued him and his company, Bodog Entertainment Group for felony charges.
Calvin Ayre Settles Lawsuit In 2017
Ayre was indicted by the US Attorney for Maryland in 2012 on charges of illegal gambling. In July 2017, Calvin Ayre was sentenced to one year of unsupervised probation and paid a $500,000 fine. He also paid $100,000 to reacquire the domain of Bodog, after it was seized by federal prosecutors during the case. All remaining felony charges against him and three other Canadian men involved in the case were dropped.
After Ayre was cleared of his charges, he was appointed as an Economic Envoy for Technology Development by the Government of Antigua and Barbuda to serve as the sovereign island states’ adviser on all things related to cryptocurrency and Bitcoin. It was reported that Ayre was instrumental to the island nations’ move to draft laws regarding the implementation of Bitcoin last year.
Ayre has been a staunch supporter of Bitcoin Cash since it branched out from Bitcoin. Despite the recent crash of the crypto market and the significant decline of Bitcoin, Ayre has committed to dedicating a significant amount of capital and investment into creating a full-scale bitcoin cash mining operation. Called Coingeek, the mining operation will focus solely on mining Bitcoin Cash and will launch a Bitcoin Cash-based commerce named “Bcomm.”