And here is KT's letter
- Thread starter rackmsuckr
- Start date
Snapshot9 said:
Santa said it best, HO HO HO
T
Timberly
Guest
Honestly, does that really mean anything? If KT was just stringing people along on this whole buyout, which some have suggested, putting links to Ho on the website would be an easy way for KT to make it look like there was validity in what he's saying.Snapshot9 said:
I'm not saying that's what he is doing, I'm just pointing out that he could simply link to Ho as a facade...
Randy,
You are absolutely correct. I have no reason to believe the handful of actual employees of the IPT are not being paid. I mentioned the word "employees" in my post. I should have included vendors, independent contractors and lending institutions. That's what all of those lawyers are supposed to be overseeing in the transaction...protecting everyone involved, not just the employees.
Enjoy the day,
Rip
You are absolutely correct. I have no reason to believe the handful of actual employees of the IPT are not being paid. I mentioned the word "employees" in my post. I should have included vendors, independent contractors and lending institutions. That's what all of those lawyers are supposed to be overseeing in the transaction...protecting everyone involved, not just the employees.
Enjoy the day,
Rip
jay helfert said:
Well, I like the word HOping better!
T
Timberly
Guest
I didn't say that I know for a fact that they are not sponsors. You stated they were listed as a sponsor and since you're so well informed about the IPT, I figured I would ask what kind of sponsorship because they certainly weren't mentioned as sponsors by KT when he mentioned the other sponsors... seems odd that he would leave them out when recognizing sponsors don't you think? I'm just relying on common sense about this... common sense tells me that if Ho was a sponsor, KT would've said so when A) he mentioned the letter of intent, and B) when he was giving the other sponsors recognition.jasper said:
When I know something to be a fact, I state it as such. When I ask a question, as I did to you, it means that I don't know and I'm trying to find out. When people in KT's position fail to give details and straight out answers, we have to rely upon common sense to try and figure these things out. Since you can't tell me how Ho was a sponsor and no one else can, I'll continue to say that listing Ho as a sponsor simply doesn't add up... not when KT failed to acknowledge Ho as a sponsor with the other sponsors.
The sponsor listed on the IPT site is actually "Hocasino.net". To be fair Timberley there is nothing in the chronological sequence of events so far that in itself would preclude HoCasino.net from being a current sponsor of IPT. Vonage etc could have been one-off sponsors of a single event (Reno) and Hocasino.net could have come on board afterwards as a general sponsor,hence the appearance of their adverts on the IPT site after those of the others.
However,on a slightly different note it is pretty clear that HoCasino.net and its close relative DrHo888.com are both companies registered in Costa Rica and licensed as businesses authorised to operate internet gaming by The Offshore Gaming Directorate in that country.That status alone makes it highly unlikely that the company which is acquiring IPT is Hocasino.net or that there are any plans to float Hocasino.net on The London Stock Exchange.
It must therefore be assumed that the acquiring company which KT has been referring to in his rather vague style could be another existing unit within the Ho empire or a new company being set up solely for the purpose of acquiring IPT and owning it as a holding company.I can't find any meaningful mention of "Ho Interactive" anywhere but I freely admit that such searches aren't my field of expertise so roll on Tuesday and the revelations
Is that fair and reasonable and positive enough for you Jasper?
However,on a slightly different note it is pretty clear that HoCasino.net and its close relative DrHo888.com are both companies registered in Costa Rica and licensed as businesses authorised to operate internet gaming by The Offshore Gaming Directorate in that country.That status alone makes it highly unlikely that the company which is acquiring IPT is Hocasino.net or that there are any plans to float Hocasino.net on The London Stock Exchange.
It must therefore be assumed that the acquiring company which KT has been referring to in his rather vague style could be another existing unit within the Ho empire or a new company being set up solely for the purpose of acquiring IPT and owning it as a holding company.I can't find any meaningful mention of "Ho Interactive" anywhere but I freely admit that such searches aren't my field of expertise so roll on Tuesday and the revelations
Is that fair and reasonable and positive enough for you Jasper?
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memikey said:The sponsor listed on the IPT site is actually "Hocasino.net". To be fair Timberley there is nothing in the chronological sequence of events so far that in itself would preclude HoCasino.net from being a current sponsor of IPT. Vonage etc could have been one-off sponsors of a single event (Reno) and Hocasino.net could have come on board afterwards as a general sponsor,hence the appearance of their adverts on the IPT site after those of the others.
However,on a slightly different note it is pretty clear that HoCasino.net and its close relative DrHo888.com are both companies registered in Costa Rica and licensed as businesses authorised to operate internet gaming by The Offshore Gaming Directorate in that country.That status alone makes it highly unlikely that the company which is acquiring IPT is Hocasino.net or that there are any plans to float Hocasino.net on The London Stock Exchange.
It must therefore be assumed that the acquiring company which KT has been referring to in his rather vague style could be another existing unit within the Ho empire or a new company being set up solely for the purpose of acquiring IPT and owning it as a holding company.I can't find any meaningful mention of "Ho Interactive" anywhere but I freely admit that such searches aren't my field of expertise so roll on Tuesday and the revelations
Is that fair and reasonable and positive enough for you Jasper?
There is an administrative contact for the hocasino.net domain at
domains@drho888.com
It would be kinda fun to start finding other email addresses in the Ho empire and ask for clarification on this IPT deal. Whoever in the billiard community is interested, email this address and ask for contacts in Ho's business to get with for clarification. And if you are ignored... Keep asking... There is a phone number for the domain point of contact too, but it is in Costa Rica. Lemme know if you want it. Maybe we can find out straight from Ho's organization, since ole' Kevin doesn't want to share that info.
Russ
Russ Chewning said:
Russ, I just posted this exact post on the "Would You Buy Stock" thread. Go to the link and read the information about the HO IPO. Jimmy
Ho IPO information
-----------------------------------------------------------------------
Ho has been planning on taking some of his hotels and, I believe, a theme park public on the Hong Kong Stock Exchange for quite some time. There is no mention of his on-line website or the IPT being part of the IPO in any of the articles.
This is the link to the information, you do NOT have to download the language pack, simply close the widow.
http://en.ce.cn/Markets/Equities/200..._8734752.shtml
If the IPT went public in some form, as a stand alone business, I would short the stock and buy put options is large amounts
NYC cue dude said:
I've been involved with my share of buyouts and I read something else out of it. He will no longer commit his funds to pay IPT debt while he is trying to unload it.
If he can't sell it, meaning someone else will assume the debt, I think they'll liquidate, first with a chapter 11 then with chaper 7. Why risk the money when you can just discharge the debt? If he really had long term plans, like going public, then not paying the players - which is a big public relations DISASTER - is the worst thing you can do.
He is trying to unload an albatross. Everybody here seems to think the IPT is some big famous thing. It's not. The public is virtually unaware of the IPT. Big ideas for an industry that cannot fund big ideas.
My prediction is the annoucement will be the deal fell through and the IPT is seeking protection while they reorganize.
For the hopes and dreams of all the players and the good people who want to make their dream of a viable pro tour come true, I sincerely hope that I am wrong.
Chris
I think kts on the level. Sounds like and feels like how the chinese operate, to me. The whole scenario. 
NYC cue dude
Banned
Tate, you are absolutey correct. I have been saying for two weeks now that any sale of the ipt should be considered a bailout. In fact, i believe this would be the only way the ipt could survive.
I too have been involved in my share of huge business transactions, letters of intent etc. I sold my family business last year for 50 million. It involved tangible assests, independent contractor commisiions, etc. In the case of the ipt, why would kt rereach into his pocket to pay the players, when the mounting debt is the reason for the sale in the first place.
Ultimately, if you understand that the ipt will probably be sold for around 4 million, you can see that ho will be paying for the ipt "system" that is already in place. My guess kt pockets a million, is off the hook, recieves long term natural cures sponsorship, and a small percentage on future earnings.
rg
I too have been involved in my share of huge business transactions, letters of intent etc. I sold my family business last year for 50 million. It involved tangible assests, independent contractor commisiions, etc. In the case of the ipt, why would kt rereach into his pocket to pay the players, when the mounting debt is the reason for the sale in the first place.
Ultimately, if you understand that the ipt will probably be sold for around 4 million, you can see that ho will be paying for the ipt "system" that is already in place. My guess kt pockets a million, is off the hook, recieves long term natural cures sponsorship, and a small percentage on future earnings.
rg
If Mr. Ho wanted a pool tour as part of his empire, why wouldn't he just start one? Or work with one of the promoters in Asia, if that is where the true public market is?jay helfert said:
The IPT does not have players under an exclusive contract, so he can't be buying their enforced participation.
What exactly would he be buying?
If a person of means rolled into town, dangling big money and nice venues, AND put the money in escrow, does anyone want to bet that the players wouldn't show up?
ScottR said:If Mr. Ho wanted a pool tour as part of his empire, why wouldn't he just start one? Or work with one of the promoters in Asia, if that is where the true public market is?
The IPT does not have players under an exclusive contract, so he can't be buying their enforced participation.
What exactly would he be buying?
If a person of means rolled into town, dangling big money and nice venues, AND put the money in escrow, does anyone want to bet that the players wouldn't show up?
Youve hit the nail on the head/ The first question anyone should ask when buying a business is can this be copied/can I simply do it myself?
I beleive the IPT has created some value as Randy pointed out, the qualification/tournament structure and the excellent website. They have some relationships in place and a small but reasonably well known brand (not Mcdonalds of course but probably more well known than ANY other pool brand/tour). If he had the players signed up he'd have much more value and I'm really suprised he didn't force this before attempting to sell. This alone makes me wonder if he's actually going to sell a large stake at this point or if he's just looking for capital to limp through the remaining 2006 schedule, and then sign the players up and restructure.
Yes anyone could probably do what KT has done if they had a spare few million but why reinvent the wheel if the grunt work has been done and the IPT is struggling and a good deal can be done?
Whatever happens I'm sure KT will spin it as "the biggest gazillion dollar deal in the history of the galacticgalaxyosphere", we'll probably never know the real value.
Colin Colenso said:
I think if people paid the same attentions to politics and religion look out!
Just maybe this whole thing will be resolved sometime this week. My hopes and wishes are for the best because pool just needs it.