Did KT really invest millions????

S

smashmouth

AzB Silver Member
Silver Member
I think an answer to this question would aid in determining what his
true intentions are.

The 3 million he did pay out surely didn't come from qualifiers. Question is,
did he in fact receive sponsorship and/or inverstor money to cover all expenses up until Reno?
 
Who cares how much he did,if he did.he is a business man that tried to make some money and now that it aint happening he is ripping off the players of their well deserved money.The day that he pays a single cent i will retrach all ive said about this guy,but until that happens he is a con artist in my books,and i feel sorry for conmen because they will pay the price sometime down the road,JUST PAY THE PLAYERS AND STOP MAKING EXCUSES.
 
Well, he said he was already making money several times since launch. So... if you believe him then, he invested very little... Now he says 10 million and is losing...

My guess is he spent around 5 million out of his pocket. I doubt the production of the tournaments are even close to the numbers he tosses around. Really, who would spend a cool million on food lol
 
As far as the cost of the Food, Hotel Catering is very expensive for events
The size of the IPT. You don't just pay the grocery bill, you are paying to have the food cooked, prepared, presented and served as well bars for soft drinks and the little bottles of water that seemed to be everywhere, as it is very dry in Nevada. On that statement he made where he said he spent 1 million so far, that is most likely true. My old company hosted Hospitality suites and the Food and Beverage bills were Huge.

As far as how much he invested, any start up Business model is always going to loose money for the first 2 or 3 years, so he budgeted for that.

In my opinion the IPT was a form of advertising for the Natural Cures program. So the start up cost should have come out of the Natural Cure budget.

I just don't think the advertising was as successful as he projected.

I had no idea that On-Line gambling was taking place.
 
Ho's On Line Gambling

The IPT was looking to be financed by other gamblers?:confused:
 
CaptainHook said:
As far as the cost of the Food, Hotel Catering is very expensive for events
The size of the IPT. You don't just pay the grocery bill, you are paying to have the food cooked, prepared, presented and served as well bars for soft drinks and the little bottles of water that seemed to be everywhere, as it is very dry in Nevada. On that statement he made where he said he spent 1 million so far, that is most likely true. My old company hosted Hospitality suites and the Food and Beverage bills were Huge.

As far as how much he invested, any start up Business model is always going to loose money for the first 2 or 3 years, so he budgeted for that.

In my opinion the IPT was a form of advertising for the Natural Cures program. So the start up cost should have come out of the Natural Cure budget.

I just don't think the advertising was as successful as he projected.

I had no idea that On-Line gambling was taking place.
Click to expand...

Cmon- I buy those bottles of water on sale when they are 20 Cents or less per bottle and i never am without them. The WPBA has them all over at all their events, a Green Room too and i never heard it was anything but a small misc expense. The Players go in there all week no matter if they are in or out of the tournament.

As far as the food- i heard it was cold cuts and fruit-Practically no prep at all. Ill go along with the Venetian rental for near one mil, but not the food number.
 
Last edited:
CaptainHook said:
As far as the cost of the Food, Hotel Catering is very expensive for events
The size of the IPT.
Click to expand...

While this is very true, it seems to me that the ratio of "food cost" to "payout cost" is very skewed. For the sake of arguement let's say that the IPT has spent $10M in total, and $1M of that was on food. Is it reasonable for a pool tournament promoter to spend 10% of the budget on food ? Seems unreasonable and unneeded to me.

Dave
 
Last edited:
Nostroke said:
... As far as the food- i heard it was cold cuts and fruit-Practically no prep at all. Ill go along with the Venetian rental for near one mil, but not the food number.
Click to expand...
It is likely that the Venetian required the IPT to use Venetian catering for the Green Room. If that's so, a bottle of water will be about $2-$3. Meals (even cold cuts for sandwiches) will come out at about $20/meal. See my previous estimate on catering. I got about $30,000 per IPT tournament figuring a total of 1500 meals. I suppose it could have been $60,000.
 
Bob Jewett said:
It is likely that the Venetian required the IPT to use Venetian catering for the Green Room. If that's so, a bottle of water will be about $2-$3. Meals (even cold cuts for sandwiches) will come out at about $20/meal. See my previous estimate on catering. I got about $30,000 per IPT tournament figuring a total of 1500 meals. I suppose it could have been $60,000.
Click to expand...


I like those numbers.
 
Cap'n Hook...<<In my opinion the IPT was a form of advertising for the Natural Cures program. So the start up cost should have come out of the Natural Cure budget. I just don't think the advertising was as successful as he projected.>>

I think you've got it right in large measure. In addition though, I think he placed great potential value on:
A. The video catalog of matches both in physical form (DVDs etc.) and on-line.
B. I think he did try to pitch others...NOT the other way around...on the IDEA of attempting some form of on-line gaming. But I think what he missed...among MANY things...is that (AFAIK) on-line gaming on sporting events (i.e. on-line bookmaking) has been DWARFED by on-line poker...mostly Hold 'Em).

I don't think there was EVER going to emerge any huge volume of bets being laid on-line re: who is going to win a pool tournament. People who are likely to place that kind of bet just call their friendly bookie on the phone and get the bet down...they don't need the internet.

Were people need the Internet is to PLAY THE GAME THEMSELVES...not to bet on other people.

Ho Interactive MAY have LOOKED at the IPT as a potential source of betting revenue...although how seriously they might have looked...or looked at all is a matter of speculation.

But logic...being my best friend...leads me wonder why... since pool isn't particularly popular amongst the U.S. tv viewing audience, why...all of a sudden...are TONS of those same people going to start burning up bandwidth trying to get bets down on matches they don't care much about in the first place?????

Regards,
Jim
 
Bob Jewett...<<It is likely that the Venetian required the IPT to use Venetian catering for the Green Room. If that's so, a bottle of water will be about $2-$3. Meals (even cold cuts for sandwiches) will come out at about $20/meal. See my previous estimate on catering. I got about $30,000 per IPT tournament figuring a total of 1500 meals. I suppose it could have been $60,000.>>

EXACTLY my experience.

Regards,
Jim
 
Bob Jewett said:
It is likely that the Venetian required the IPT to use Venetian catering for the Green Room. If that's so, a bottle of water will be about $2-$3. Meals (even cold cuts for sandwiches) will come out at about $20/meal. See my previous estimate on catering. I got about $30,000 per IPT tournament figuring a total of 1500 meals. I suppose it could have been $60,000.
Click to expand...


Sounds alot more realistic than a million :)

KT is an exaggerator at his best. An outright liar at his worst. When I lie, I make sure I can't be caught easily. This guy reminds me of the DNC. He does not care if the *smarter* people believe him... He, and the DNC, are only concerned with the idiots that will believe anything they are told...

Surely he must realize that a good number of people see right through him... I guess his data shows that the majority of his target audience can be manipulated with little effort...


If this guy ever puts on another event, I hope he gives up the hype and just gets honest. I know... I've heard of his history :) I guess it will never happen lol His last letter seemed to be the most honest of them all. What? About 50% truthful?
 
CaptiveBred said:
KT is an exaggerator at his best. An outright liar at his worst. When I lie, I make sure I can't be caught easily. This guy reminds me of the DNC. He does not care if the *smarter* people believe him...
Click to expand...
Clever liars give details... the cleverest do not.
 
My wedding had 425 Greeks eating and drinking all night in a four star hotel. If my Father-in-law paid a dollar over 50K he would have had a heart attack. I've had dozens of corporate events where we don't eat cold cuts. $50.00 a head would cover anything. I doubt they had a open bar.

For a million you could serve sandwiches for 50,000 people. If this clown was Pinocchio his nose would circle the sun 3 times.

Nick
 
av84fun said:
Cap'n Hook...<<In my opinion the IPT was a form of advertising for the Natural Cures program. So the start up cost should have come out of the Natural Cure budget. I just don't think the advertising was as successful as he projected.>>

I think you've got it right in large measure. In addition though, I think he placed great potential value on:
A. The video catalog of matches both in physical form (DVDs etc.) and on-line.
B. I think he did try to pitch others...NOT the other way around...on the IDEA of attempting some form of on-line gaming. But I think what he missed...among MANY things...is that (AFAIK) on-line gaming on sporting events (i.e. on-line bookmaking) has been DWARFED by on-line poker...mostly Hold 'Em).

I don't think there was EVER going to emerge any huge volume of bets being laid on-line re: who is going to win a pool tournament. People who are likely to place that kind of bet just call their friendly bookie on the phone and get the bet down...they don't need the internet.

Were people need the Internet is to PLAY THE GAME THEMSELVES...not to bet on other people.

Ho Interactive MAY have LOOKED at the IPT as a potential source of betting revenue...although how seriously they might have looked...or looked at all is a matter of speculation.

But logic...being my best friend...leads me wonder why... since pool isn't particularly popular amongst the U.S. tv viewing audience, why...all of a sudden...are TONS of those same people going to start burning up bandwidth trying to get bets down on matches they don't care much about in the first place?????

Regards,
Jim
Click to expand...

I agree, also who in the Hell is going to PAY for recordings of Pool matches.
I tape the matches on TV, If it aint free, it aint for me.:D
I have never paid for a tape of a Pool match in my life.
I recently missed taping the mens Tournament of Champions a month or so ago, and I posted to see if anyone had a copy, one poster offered to Sell it to me:mad: :mad: :mad:
It was free to begin with:confused:
Sure a couple bucs for a tape and postage or maybe a trade, but sell me something that was on TV free. WTF.

:)
 
CaptainHook said:
I agree, also who in the Hell is going to PAY for recordings of Pool matches.
I tape the matches on TV, If it aint free, it aint for me.:D
I have never paid for a tape of a Pool match in my life.
I recently missed taping the mens Tournament of Champions a month or so ago, and I posted to see if anyone had a copy, one poster offered to Sell it to me:mad: :mad: :mad:
It was free to begin with:confused:
Sure a couple bucs for a tape and postage or maybe a trade, but sell me something that was on TV free. WTF.

:)
Click to expand...
Captain Hook, you are missing the boat if you haven't checked out Accu-Stats. Great pool at a reasonable price with no commercials. No. I don't work for Accu-Stats, just a long time customer.
 
Johnnyt said:
KT math= Food for three events=$100,000,000- 95%= $50,000. Johnnyt
Click to expand...

Understand the sentiments re KT's inventive accounting.....but this well deserved poke in his eye loses some impact by you having typed $100 million minus 95%,which in fact results in $5 million not $50,000:) ;)
 
JimK...Right. Accu-stats does an excellent job and include proprietary commentary that is EXCELLENT.

In addition, they tape matches that are never (rarely) shown on TV and LOTS of "oldies" that are priceless.

Fact is that the IPT library of videos is worth LOTS of money....ALL OF WHICH I hope ends up in the player's hands!!

(-:
Jim
 
You must log in or register to reply here.
Back
Top