2+2er owned and operated poker room - Page 6

Boris · #51 06-25-2007, 07:14 PM

If MA eventually allows an Indian Casino, I think the easiest way to do this would be to lease floor space from the casino. I've seen this work on a smaller scale in California and Montana. It's usually a good deal for all involved. You just have to convince the casino that you are a more efficient manager than anyone they have in house.

anduril · #52 06-25-2007, 07:15 PM

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If MA eventually allows an Indian Casino, I think the easiest way to do this would be to lease floor space from the casino. I've seen this work on a smaller scale in California and Montana. It's usually a good deal for all involved. You just have to convince the casino that you are a more efficient manager than anyone they have in house.

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what specific experience/knowledge do you have about this?

morello · #53 06-26-2007, 09:17 AM

How much capital do you have to invest? If it's not in the millions, I can't imagine why you think you have a shot at this. Everyone knows that casinos are super profitable, if licenses are magically available in MA, why would your group receive one? What do you bring to the table specifically, if not gobs of cash or political connections or previous history of opening casinos?

If gaming really is legalized, don't you think that MA will soon have its own version of Foxwoods, an extremely large casino with a poker room?

I don't mean to rain on your parade, but from reading this thread it seems like you thought "hey, let's open a casino!" without realizing that everyone has that thought. Good luck, though.

anduril · #54 06-26-2007, 12:15 PM

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How much capital do you have to invest? If it's not in the millions, I can't imagine why you think you have a shot at this. Everyone knows that casinos are super profitable, if licenses are magically available in MA, why would your group receive one? What do you bring to the table specifically, if not gobs of cash or political connections or previous history of opening casinos?

If gaming really is legalized, don't you think that MA will soon have its own version of Foxwoods, an extremely large casino with a poker room?

I don't mean to rain on your parade, but from reading this thread it seems like you thought "hey, let's open a casino!" without realizing that everyone has that thought. Good luck, though.

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It is currently unknown and impossible to know if that's what will happen or how the state will handle it.

anduril · #55 06-26-2007, 11:55 PM

morello,

also, I think maybe I did not completely explain our intentions. We are not looking for a full casino. We are looking to open a poker room only. To those who say it won't work without slots, etc. I completely disagree. Clarkmeister did a quick calculation on the gross income a poker room generates and it is more than sufficient to accomplish our goal.

morello · #56 06-27-2007, 08:40 AM

Based on the OP, it sounds like MA will be giving gaming licenses for things other than poker (slots, etc). Firstly, won't some giant conglomerate jump up and offer a massive casino with all of those things, plus poker? do you feel like you can open a small poker room and compete with them? is there a market for a standalone poker room? I don't know the answers but it sure seems like having slot machines for the wife and a poker room for the husband is a lot better than just a poker room for the husband.

If they will grant a license for a standalone poker room, and if you feel it will be successful, why do you feel like you will be the group to receive it? accountants have a metric for calculating the price to pay for a company, given yearly profits. surely a similar method will be invoked here, where someone will calculate yearly profits of X$ and then bid $Y to get the license. can you match Y$?

I still don't understand what makes your group a viable candidate for a gaming license. I guess you are trying to say that you will run the place better than the competitors, but it seems like this is an argument to be hired as poker room manager rather than poker room owner. the scarce resource is the license and the capital required to get it, not the knowledge in how to run a poker room.

xxThe_Lebowskixx · #57 06-27-2007, 08:49 AM

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So I and three other 2p2ers who I am good friends with are seriously looking into composing a business plan for a poker room in Massachusetts. Currently, this is illegal. However, there are several pieces of legislation in the works that may change the law. It may only make concessions for Indian Reservations, or it may just make gambling legal. I may actually lean towards the latter, since several lawmakers have realized how little a contribution an Indian casino would bring for state revenue. Anyway, nothing will change very soon, but I think the day a bill passes to allow gambling, we should have our business plan set with investors in line.

Our tentative plan is to construct a casino that is similar to those that are in CA. Poker only, no one-arm bandits. At some point when we have a finished business plan we'd like to take a trip out to CA and visit a few rooms and see if any of the owners have vested interest. It would be a poker room built by poker players, for poker players. There are other specifics that would make this post very long winded and I can reply more specifically to people who think we are crazy but our problem is this: None of us have business degrees. Three of us used to play for a living. We know how to run a poker room, we know how to treat players, how to treat staff, and how to make people want to come and play in our room. We don't know how to get venture capital, how to make a comprehensive business plan, or even how to find any of this out. Also, any legal people in MA who know anything would be a great help to post anything here. So, um, help?

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You realize that you need a license right? To get a license you need friends in important places. To make friends with people in important places you have to pay money. Its not like this a free country or something where anyone can open any business they want.

anduril · #58 06-27-2007, 11:17 AM

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Based on the OP, it sounds like MA will be giving gaming licenses for things other than poker (slots, etc). Firstly, won't some giant conglomerate jump up and offer a massive casino with all of those things, plus poker? do you feel like you can open a small poker room and compete with them? is there a market for a standalone poker room? I don't know the answers but it sure seems like having slot machines for the wife and a poker room for the husband is a lot better than just a poker room for the husband.

If they will grant a license for a standalone poker room, and if you feel it will be successful, why do you feel like you will be the group to receive it? accountants have a metric for calculating the price to pay for a company, given yearly profits. surely a similar method will be invoked here, where someone will calculate yearly profits of X$ and then bid $Y to get the license. can you match Y$?

I still don't understand what makes your group a viable candidate for a gaming license. I guess you are trying to say that you will run the place better than the competitors, but it seems like this is an argument to be hired as poker room manager rather than poker room owner. the scarce resource is the license and the capital required to get it, not the knowledge in how to run a poker room.

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I said it was possible. It is unknown at this time what the states plans are or what they will be. Also, I definitely believe there is a very large market for a stand alone poker room in the part of the state we are looking at. I agree that slots are big money makers. I don't care. We are all in this to make a great poker room that helps the local community while also taking business away from evil Foxwoods. This is not intended to be a get rich quick scheme and I think some of you guys are confusing that.