It is with some regret that I start this piece. It is Sunday 2nd June and poker may have climbed into its death bed in the UK. Tragically over the weekend DTD, have apparently, lost almost 600,000 Euros on the ISPT poker event. Two years in the planning “the ISPT” is a great idea but perhaps a little ambitious in its conception and the clash with the WSOP is very difficult.
I want to question the DTD losses 589,060€, none of my business I know, but how can they carry on making these sort of losses? With almost 250K towards paying for the event perhaps the ISPT losses will be reduced so they can carry on with further events? I think, despite the reduced turnout for the event, that London Wembley was the right choice for the kick off event. Perhaps when the final figures are analysed and the online returns dissected losses can be put more into perspective.
There is no doubt that DTD is an incredibly brave organisation and 100% committed to poker in the UK, I for one will certainly be trying to support them even more through 2013 and beyond, they have rapidly become the true heart of poker in Europe.
Watching the event live there is an amazing echo / atmosphere in the Igloo / tents. Tighty looks like he’s feeling the heat but getting on with an admirable job as usual.
DtD didn't have to get involved in this venture; they chose to get involved and they chose to embrace the risks that came with it: a never-before-tried stadium tournament with huge overheads, no major online site offering satellites, a clash with the start of the WSOP etc. Sorry if this sounds callous, but I can't feel too much sympathy for them. They knew what they were getting in to and they didn't have to go anywhere near it if they didn't want to. They obviously had deep enough pockets to be able to cover the losses if and when the tournament didn't reach it's guarantee.
I do however wonder if this year's loss is part of a long term genius business plan where the tournament becomes an annual, must-play event for the biggest names and biggest field in world poker and where the ongoing annual profit for DtD eclipses this year's loss.