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Australia's Adult Novelty King Eyes World's Biggest Brothel

Australia's Adult Novelty King Eyes World's Biggest Brothel
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Aug 1, 2011 9:00 AM PDT    Text size: 

SYDNEY— Australia’s adult novelty king, Malcolm Day wants to create the world’s biggest brothel.

The controversial businessman is hoping to raise money for a three story, 42-room mega-sex-complex opposite Sydney University on the city’s Parramatta Road — Sydney’s major historical east-west artery.

“The new complex will create the largest short-stay bordello globally. On completion, earnings are projected to double to $40 million of revenue and $12 million of earnings before interest, taxes, depreciation and amortization (EBITDA),” according to a stockbroker presentation obtained by BusinessDay.

Seven suites with pool tables “and two sets of beds for parties and group bookings” will be built on the top floor of the complex.

A highlight in Day’s funding pitch to investors for the mega-pleasure palace reads, “Fully incensed and legal premises, with all regulatory approvals obtained — 10 year operating history.”

Day is shopping a $5 million convertible note through his listed company Delecta Ltd, formerly called Adultshop.

Part of the plan also includes the acquisition of Stiletto, another profitable brothel, and to run a one-for-eight share consolidation.

Stiletto reportedly earned $7 million in revenue last year and EBITDA of $3.6 million that translates to more than a 50 percent profit margin.

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