Harrahs takes $25,000 juice from charity tourney

[doublejoker]

How dare Harrahs charge $140 per player juice on a charity Tournament to help starving children in Africa. They made all these announcements prior to the start of the tourney that the funds raised in this tournament would benefit a great cause; except they failed to say that Harrahs corporation was taking out approximately $25,000 in juice to run this tournament. One of the players came up to me and was really upset by this. He showed me his entry card; and sure enough it said $4860 + $140. The entire $5000 should have gone into the prizepool since most of the payers were donating a portion if not all their winnings to the charity.

[FatalError]

you don't understand how hard it is for harrahs to organize such an event, corporations have needs too

[doublejoker]

Do you think Harrahs could afford a $25,000 to the charity?

[sobefuddled]

Let's see. Let's be generous here. To run this tournament they need to come up with the space, the set-up crew, cards and dealers at a minimum. Then there is housekeeping, security, anything else? Are they still giving away beverages? Harrahs like most businesses needs to make every square foot produce as much cash as possible in order to show a profit. If all they are doing is breaking even then they are donatng. It should be easy to figure roughly what it costs per player to put on a tournament even if you don't know what fixed costs are.

[cobrakai111]

[ QUOTE ]
Let's see. Let's be generous here. To run this tournament they need to come up with the space, the set-up crew, cards and dealers at a minimum. Then there is housekeeping, security, anything else? Are they still giving away beverages? Harrahs like most businesses needs to make every square foot produce as much cash as possible in order to show a profit. If all they are doing is breaking even then they are donatng. It should be easy to figure roughly what it costs per player to put on a tournament even if you don't know what fixed costs are.

[/ QUOTE ]

Well it was a charity tourney. Isn't donating the point?

[eastern motors]

[ QUOTE ]
How dare Harrahs charge $140 per player juice on a charity Tournament to help starving children in Africa. They made all these announcements prior to the start of the tourney that the funds raised in this tournament would benefit a great cause; except they failed to say that Harrahs corporation was taking out approximately $25,000 in juice to run this tournament. One of the players came up to me and was really upset by this. He showed me his entry card; and sure enough it said $4860 + $140. The entire $5000 should have gone into the prizepool since most of the payers were donating a portion if not all their winnings to the charity.

[/ QUOTE ]

Perhaps Harrahs is donating a portion of what they would usually rake.

[MadeHand]

With all the rake they are currently making on these cash games at the Rio, they do not need to take their fee.

[MaverickUSC]

I think the juice on the $5k LHE was $300. $100ish of that would be normal dealer tips, and I think that's fair to withhold. Not necessarily fair to expect the dealers to give their tips to charity. Still though, $40 a head to run a charity tourney? Anybody else better at this internet stuff than me can crunch the other 5k events tip/harrahs percentage?

Devo

[sobefuddled]

Yes, it is. When one donates it is according to one's means. You do not know that Harrah's did not donate. Unless of course you are their accountant and have prepared a P&L statement for this event.
[ QUOTE ]
With all the rake they are currently making on these cash games at the Rio, they do not need to take their fee.

[/ QUOTE ]
Again, have you done their P&L for the Series? If you were an investor where would you stand on this issue? Is Harragh's permitted to choose its own charities?

[PokeReader]

Harrah's, and all major, and most minor companies donate to charities and political causes, they gave almost 600K in the last year soft money was allowed directly, 2002. They would donate to a variety of local and national charities. I remember Harrah's New Orlean's set up a charity after the hurricane, and also had one set up just for their workers. Technically they might have need to charge for the tournment, then donate it back, or they could have done it as an in-kind donation. But, if I was involved in the charity, I would have thrown a polite stink about this with the corporate muckey mucks. Ridiculous.