Planet Platinum (PPN)

Shares / Stock Code

PPN

Stock Exchange / Sharemarket

Australian Securities Exchange

Planet Platinum (PPN) operates on property ownership and adult entertainment. The company owns the Daily Planet property in Elsternwick, Melbourne. The property is leased for 50 years to Daily Planet, a brothel operator. PPN is not involved in the brothel operation, generating only rental income from the property. PPN has also purchased 'ShowGirls Bar 20', and its looking to diversify into escort operations.

The Planet Platinum property was initially operated as the Le Chateau Brothel. In 1974, John Trimble took over the business and renamed it Daily Planet, gaining legitimate recognition with the legalisation of prostitution in Victoria in 1985. In 1993, it was restructured, with PPN retaining ownership of the property and leasing the premises to a brothel operator. In 1 May, 2003, PPN listed on the ASX, also purchased ShowGirls tabletop dancing. In 2004, it changed its name to Planet Platinum.

Planet Platinum is the landlord of high-profile Melbourne brothel Daily Planet. The company is in the process of moving to a franchise model for its 'ShowGirls Bar 20' club, locally and overseas (concentrating in China), and changing its investment strategy to high yielding hospitality operations.

The Daily Planet brothel operator is the major customer of PPN. Major competitors would be other leisure-related businesses providing same services in the market.The Company’s subsidiaries include Showgirls Bar 20 Pty Ltd, Showgirls Bar 20 International Pty Ltd and Horne Street Holdings Pty Ltd.

Planet Platinum (PPN) Products and Services

  • Property ownership and adult entertainment.

Planet Platinum (PPN) Locations and Subsidiaries

Planet Platinum Head Office
Level 2,, 13 Horne Street, Elsternwick,
VIC, AUSTRALIA, 3185
Phone: 61 3 9528 4944
Fax: 61 3 9523 5627

Planet Platinum (PPN) Share Price

Submitted by ASX Listed Company on 20 May, 2010 - 01:57

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