upside benefits to all. The entire process is very transparent and simple to understand for the client. GBI partners with best in class companies to provide unmatched efficiency, security, integrity and transparency which are the reasons that a casino will want GBI as a strategic alliance for this new concept. The entire process consists of three functions:
• GBI Order and Management Process • Casino Collateral Process • Casino Gold Bullion Settlement GBI Order and Management Process: Order:
• Upon client opening GBI account through casino X, client places gold order in dollars or specific bar sizes including vault location.
•
Client or host casino wires cash to Wells Fargo GBI account for processing.
Execution: •
GBI confirms receipt of the order with the client.
• GBI secures the required precious metals from an approved dealer
• GBI confirms the order execution with the client
• GBI wires cash to bullion dealer to pay for secured gold.
• Via Mat and other internationally recognized vaulting partners pick up precious metals from bullion dealer’s vault and transport it safely to an insured vault of the client’s choice.
Management:
• A Big 4 accounting firm provides quarterly verification of precious metals holdings
• GBI provides monthly statements to clients •
Bullion is audited daily by Via Mat and other internationally recognized vaulting partners.
• • •
•
Casino Gold Bullion Account Process:
• Host casino provides client with GBI account opening documentation either web based or by physical document along with all required compliance documents.
• GBI conducts Office of Foreign Asset Control (OFAC) and Know Your Client (KYC) reviews.
• GBI account opening for Casino X’s client is authorized and linked to the customers Players Club account number.
• • •
Casino X client completes collateral transfer document / Agreement.
GBI will accept instructions per agreed format and methods.
GBI will transfer title to Casino X Resort Casino i.e. Casino X Resort Casino Pledged Collateral Account FBO Client.
• Each casino determines the loan to value (LTV) amount.
• Gold valuations can be provided in real-time to any casino
•
Historical average daily price % change since 1970 is 0.85%
Largest one day + price % change is +21% Largest one day – price %change is 13%
GBI has the capability to structure limit orders to protect from a downside price movement of the collateralized asset.
GBI will only accept instruction from authorized Casino X agent(s) by the agreed upon format when gold is held in Casino X’s Collateral Account.
Casino X Gold Bullion Settlement: Win Settlement Options: •
•
Client can elect to collect casino winnings in cash, check, bank transfer or in the form of gold bullion.
If bullion, Casino X wires cash dollar proceed to clients’ GBI account for real time gold bullion purchase.
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