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IBAC Corporation Completes The Formation Of A Wholly Owned Entertainment Subsidiary

NEW YORK, NY (CelebrityAccess MediaWire) — IBAC Corporation announced the formation of a wholly owned entertainment subsidiary named The Royal Entertainment Group, Inc.

"We are very excited about the formation of this new entity, as we will be using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.

The Newly formed subsidiary will be responsible for bringing first class entertainment to the complex in the form of plays, music , sporting and other events. Currently the company is working on a full slate of events for the remainder of the 2005 season with offers pending on several shows and events, as this will create another source of revenue to the company while enhancing traffic to the complex.

IBAC Corporation currently operates through its subsidiaries National Hospitality Management Services and The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites and The Royal Entertainment Group, Inc. The company has some 100 employees and with the addition of the two contracted Sanibel Steakhouses the company will then have some 175 to 200 employees.