Earlier this afternoon, I received one of several long awaited phone calls with information regarding the status of the IPT.
I am going to state that this information is hearsay to me, because it is, but seems to be valid, and from several very good sources. This information is not meant in anyway what so ever to harm the IPT, it is meant to be helpful information because for whatever reason, the IPT makes statements that information is coming and then it is for not.
I do not know any of this to be a fact, and as I write this, I am shaking my head in disbelief on exactly how to relay in both a positive productive way..
From what I am told, the deal with HO is off. Again, I must reiterate that I have heard this to be hearsay, so I am asking you all to remember this. I am not saying I personally know this to be proof, I am just relaying what I was told by several good sources.
Apparently, the so called unsigned deal with HO and Trudeau was based upon Poker/Internet gaming as a part of the deal. The United States carries 80% world wide of the Internet gaming up till last week when President Bush signed a law into effect against Internet gaming. So, I guess The President of the United States is the cooperate, and the deal breaker.
It is also rumored that there is a standing hatred between Stanley Ho and Steve Wynn. Apparently, Wynn moved one of his properties into Ho's territory some time back and killed a lot of his action, along with offering better placements for employees at his new casino. Ho lost a lot of good employees to Wynn and the feud was ignited. I was told that Ho made it clear to Trudeau that he would have nothing to do with him if Wynn was involved....
This now brings me to the $1,000,000 IPT "King Of The Hill" Invitational 8- Ball Shootout in Las Vegas on December 12-17th, 2006 at The Wynn in Las Vegas, Nevada.
Rumor has it that certain people are scurrying around trying to make room for this event to be piggybacked at Chicago in the November/December Tournament. Unfortunately, this is where I was told that the players would get paid from the Reno event, but it would not be until Chicago. Apparently with Ho bailing (again hearsay) the funds have dried up leaving the IPT in arrears of over $3,000,000. I asked what guarantees would there be that there would be money awaiting for the players in Chicago, but my contact said there was no guarantee and that it could indeed be another stall tactic.
In the recent letter From Mr. Trudeau, it was interesting to see that Mr. Trudeau addressed my question directed to Mr. Andrews regarding Mr. Trudeau making good by the players until the situation with Mr. Ho was resolved. Mr. Trudeau stated "I wish it were as easy as me paying players myself, but this is legally unacceptable at this time"
Now what exactly is that supposed to mean? I am wondering if it meant not "legally unacceptable" but financially unacceptable? Mr. Trudeau also states that he invested over 10 Million into this event. If this is indeed true, maybe Mr. Trudeau has decided to cut his losses? 10 Million is a lot to loose even the richest.
I was also amazed to see such a "run on paragraph" (no paragraph breaks), was presented by Mr. Trudeau. I am questioning the authenticity of this letter because it would seem that Mr. Trudeau would employ a over qualified personal assistant/secretary to address such issues as this. Again, I mean no disrespect to Mr. Trudeau, but this letter really went around in circles and said nothing but, you are going to get paid, we don't know when, and when that happens, you will get a prize for being so patient. That seemed very condescending.
What has been relayed to me by some of the players who are owed money, is that they really need this money. Mr. Trudeau is flying around Europe, and it is related that he cannot be reached, while more than 20 of the players are trying to find their way back from Reno unpaid with little to no recourses. Now they are being asked to wait longer, while Mr. Trudeau continues to live lavishly and they continue to scrape money up for necessaries. I am a bit perplexed and sad with this..
With Trudeau paying out over $900,000 to The Venetian Hotel and Casino in Vegas and THIS is where a lot of the funds went, and then Trudeau then figuring out all of the hidden costs, he relocated to Reno. Now, we will see what Chicago brings.
So with this being said, there are not winners yet. Especially, Mr. Andrews who I feel will have lost the most.
My personal opinion is that Deno is in a no win situation. He depends on the success of the IPT to support his family, so his livelihood and his reputation is at stake at this.
I want to believe that Deno is just as upset about this latest glitch for all of the factors I have just mentioned. He is and always has been passionate about this sport, and I am sure that he is past embarrassed with all of the excuses that have been given. I really think that it must be extremely difficult for Mr. Andrews, because we are his peers, and Mr. Trudeau could just bail at anytime and be done with it.
I will end this again by stating that I sincerely wish the best for all involved, and I hope that the IPT can pull a rabbit out of a hat.
I am going to state that this information is hearsay to me, because it is, but seems to be valid, and from several very good sources. This information is not meant in anyway what so ever to harm the IPT, it is meant to be helpful information because for whatever reason, the IPT makes statements that information is coming and then it is for not.
I do not know any of this to be a fact, and as I write this, I am shaking my head in disbelief on exactly how to relay in both a positive productive way..
From what I am told, the deal with HO is off. Again, I must reiterate that I have heard this to be hearsay, so I am asking you all to remember this. I am not saying I personally know this to be proof, I am just relaying what I was told by several good sources.
Apparently, the so called unsigned deal with HO and Trudeau was based upon Poker/Internet gaming as a part of the deal. The United States carries 80% world wide of the Internet gaming up till last week when President Bush signed a law into effect against Internet gaming. So, I guess The President of the United States is the cooperate, and the deal breaker.
It is also rumored that there is a standing hatred between Stanley Ho and Steve Wynn. Apparently, Wynn moved one of his properties into Ho's territory some time back and killed a lot of his action, along with offering better placements for employees at his new casino. Ho lost a lot of good employees to Wynn and the feud was ignited. I was told that Ho made it clear to Trudeau that he would have nothing to do with him if Wynn was involved....
This now brings me to the $1,000,000 IPT "King Of The Hill" Invitational 8- Ball Shootout in Las Vegas on December 12-17th, 2006 at The Wynn in Las Vegas, Nevada.
Rumor has it that certain people are scurrying around trying to make room for this event to be piggybacked at Chicago in the November/December Tournament. Unfortunately, this is where I was told that the players would get paid from the Reno event, but it would not be until Chicago. Apparently with Ho bailing (again hearsay) the funds have dried up leaving the IPT in arrears of over $3,000,000. I asked what guarantees would there be that there would be money awaiting for the players in Chicago, but my contact said there was no guarantee and that it could indeed be another stall tactic.
In the recent letter From Mr. Trudeau, it was interesting to see that Mr. Trudeau addressed my question directed to Mr. Andrews regarding Mr. Trudeau making good by the players until the situation with Mr. Ho was resolved. Mr. Trudeau stated "I wish it were as easy as me paying players myself, but this is legally unacceptable at this time"
Now what exactly is that supposed to mean? I am wondering if it meant not "legally unacceptable" but financially unacceptable? Mr. Trudeau also states that he invested over 10 Million into this event. If this is indeed true, maybe Mr. Trudeau has decided to cut his losses? 10 Million is a lot to loose even the richest.
I was also amazed to see such a "run on paragraph" (no paragraph breaks), was presented by Mr. Trudeau. I am questioning the authenticity of this letter because it would seem that Mr. Trudeau would employ a over qualified personal assistant/secretary to address such issues as this. Again, I mean no disrespect to Mr. Trudeau, but this letter really went around in circles and said nothing but, you are going to get paid, we don't know when, and when that happens, you will get a prize for being so patient. That seemed very condescending.
What has been relayed to me by some of the players who are owed money, is that they really need this money. Mr. Trudeau is flying around Europe, and it is related that he cannot be reached, while more than 20 of the players are trying to find their way back from Reno unpaid with little to no recourses. Now they are being asked to wait longer, while Mr. Trudeau continues to live lavishly and they continue to scrape money up for necessaries. I am a bit perplexed and sad with this..
With Trudeau paying out over $900,000 to The Venetian Hotel and Casino in Vegas and THIS is where a lot of the funds went, and then Trudeau then figuring out all of the hidden costs, he relocated to Reno. Now, we will see what Chicago brings.
So with this being said, there are not winners yet. Especially, Mr. Andrews who I feel will have lost the most.
My personal opinion is that Deno is in a no win situation. He depends on the success of the IPT to support his family, so his livelihood and his reputation is at stake at this.
I want to believe that Deno is just as upset about this latest glitch for all of the factors I have just mentioned. He is and always has been passionate about this sport, and I am sure that he is past embarrassed with all of the excuses that have been given. I really think that it must be extremely difficult for Mr. Andrews, because we are his peers, and Mr. Trudeau could just bail at anytime and be done with it.
I will end this again by stating that I sincerely wish the best for all involved, and I hope that the IPT can pull a rabbit out of a hat.
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Far and away your best and most poignant post to date Jasper,excellent work
