Re: Harrah\'s WSOP ripoff
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Lou - You obviously do not understand how WSOP, or gaming in general, works.
1) WSOP is NOT a cash cow. If I told you what RIO makes to the bottom line for WSOP, you would be shocked.
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You're clueless. The broadcast rights alone from ESPN earns them MILLIONS. Then you factor in the rake on all the tournaments, the added casino business, and the increased hotel occupancy and you have TENS OF MIlLIONS in revenue.
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1. The WSOP tournament itself does NOT make money. Tournament poker is at best a break-even business.
2. While there is a "rights fee" in the TV contract between ESPN and Harrah's, that does NOT mean that Harrah's is getting any CASH from ESPN. ESPN is bartering advertising slots with Harrah's for Harrah's to pimp its casino properties. Further, Harrah's has to compensate ESPN because the "official sponsors" Harrah's signed purchase ESPN TV ads via an integrated deal with Harrah's.
The WSOP didn't start making money until 2005.
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