Bad News-DTD to close?

[Dingdell]

http://www.betastic.co.uk/gambling_news-dusk-til-dawn-poker-club-close-to-closure.htm
is this true?

Daniel, the writer of this peace is a plum and looks like he just added spin to the original "Evening Post" piece.

Once one article has been published all the others just feed off it - nothing new here really.

[AlrightJack]

The original Post article was factually incorrect in at least one other way. Grosvenor did not object to DTD's licence application. It was Stanley, Gala and LCI who made the objections.

[tikay]

The original Post article was factually incorrect in at least one other way. Grosvenor did not object to DTD's licence application. It was Stanley, Gala and LCI who made the objections.

Corect John. I saw that, & meant to point it out, but in a thread full of hysterical inexactitudes, it sort of got lost in the melee.

Talking of which, if I got the date of when DTD announced the Grand Slam incorrect, I apologise. I quoted a very good source, but perhaps I misunderstood.

[DBC2007]

tikay...

i didnt get time to read that link but i will later on.  if this is a hobby and rob is not worried about the money one bit.  why would they close the club?

[TheChipPrince]

tikay...

i didnt get time to read that link but i will later on.  if this is a hobby and rob is not worried about the money one bit.  why would they close the club?

He is not worried about making a profit, he would be more than happy to break even, I guess he could sustain 'light' losses, but nothing massive...

[ripple11]

tikay...

i didnt get time to read that link but i will later on.  if this is a hobby and rob is not worried about the money one bit.  why would they close the club?

No ones going to have a "hobby" that loses 800 to 900K a year !!

Maybe a combination of entry fee/membership and some gambling tables is the way to go, along with a long term objective(with casinos!?) to turn around the government super tanker of the nonsensical extra tax.

Also what about some sort of partnership/sponsorship with Skypoker, or other likeminded organisations.

Maybe a return to a 6 or 7 day a week operation can be looked at.

Its looks very tough, with such big numbers, but fingers and toes crossed.

[Kaibobble]

OFFICIAL DTD PRESS RELEASE

Dear DTD Employees and Members,

Following on from some recent speculation, rumour and misquotes, I would like to make it absolutely crystal clear that there is no chance of us closing in the near future, or trading unlicensed to avoid paying higher taxes.
In reality, closing the doors would probably never happen, as a number of companies have registered an interest to acquire us, should we ever feel that the "struggle" gets too much!

When we chose to take the legal route by applying for a full casino license, we budgeted for all of the additional costs of operating legally, such as licensing fees, extra security measures and the employment of a dedicated compliance officer. Unfortunately, because we chose this path, we have recently become "caught in the crossfire" between the authorities and the casino industry. Consequently, we now face major tax increases in the form of;


1. VAT - this is now based on our total gaming area, so our 46 poker tables are treated exactly the same as having 46 roulette tables – now that is a super casino! Therefore, VAT is not reclaimable on almost all of our running costs, including any capital expenditure spent on the building.

2. Business Rates - these have literally gone through the roof and we are now paying the same rates as a 22,000sqft fully equipped casino. It has been indicated that this re-evaluation was prompted by another casino objecting to the level of rates that we were previously paying.

3.Gaming Duty - the appropriately nicknamed "Poker Tax" is now payable on all tournament registration fees and cash game charges, unlike a full casino, poker is 90% of our income and this new tax is applied to all of our poker revenues - whether we make a profit or not.

Despite these setbacks, it will still be "business as usual" at DTD; however, Nick and I will be considering the options as we move ahead. We also intend to consult our members and employees for their views at a future date. Thankfully we are in a good financial position, whereby there is no pressure to make any hasty decisions, but the reality is that we must address these significantly increased costs. Furthermore, we must also factor in the probability of more tax increases in the future, as the authorities continue to target the UK casino sector.

Cheers, Rob

PS. Last week's DTD Grand Slam overlays will have no effect on our future plans - at least the cash goes directly back into the poker community! I am certain that we will be more successful in the future. This was our first attempt and many venues would be pleased with a 194 field for a £1000k buy-in, especially taking into account the WSOP changed their dates and the market leading £1000 GUKPT took place just a week earlier.

[Rotty]

This is really annoying, someone tries to do the right thing and help the poker community and everyone just puts obsticles in the way of doing it properly

the government is bailing out banks / car companies etc most of which engineered their own downfall yet seems intent on putting folks out of jobs and losing customers a venue they love, no DTD would produce no tax revenue so the authorites would shaft themsleves too

[Shogun112]

would contacting Robs local MP regarding potential losses of jobs be of any benefit?

Well he never lifted a finger to support the objectors to all of the local Post Offices being closed down which may be a clue.

I'm assuming that we are referring to Mr. Heppel.

Wondering is there gonna be a new name there after tomorrow?

[tikay]

OFFICIAL DTD PRESS RELEASE

Dear DTD Employees and Members,

Following on from some recent speculation, rumour and misquotes, I would like to make it absolutely crystal clear that there is no chance of us closing in the near future, or trading unlicensed to avoid paying higher taxes.
In reality, closing the doors would probably never happen, as a number of companies have registered an interest to acquire us, should we ever feel that the "struggle" gets too much!

When we chose to take the legal route by applying for a full casino license, we budgeted for all of the additional costs of operating legally, such as licensing fees, extra security measures and the employment of a dedicated compliance officer. Unfortunately, because we chose this path, we have recently become "caught in the crossfire" between the authorities and the casino industry. Consequently, we now face major tax increases in the form of;


1. VAT - this is now based on our total gaming area, so our 46 poker tables are treated exactly the same as having 46 roulette tables – now that is a super casino! Therefore, VAT is not reclaimable on almost all of our running costs, including any capital expenditure spent on the building.

2. Business Rates - these have literally gone through the roof and we are now paying the same rates as a 22,000sqft fully equipped casino. It has been indicated that this re-evaluation was prompted by another casino objecting to the level of rates that we were previously paying.

3.Gaming Duty - the appropriately nicknamed "Poker Tax" is now payable on all tournament registration fees and cash game charges, unlike a full casino, poker is 90% of our income and this new tax is applied to all of our poker revenues - whether we make a profit or not.

Despite these setbacks, it will still be "business as usual" at DTD; however, Nick and I will be considering the options as we move ahead. We also intend to consult our members and employees for their views at a future date. Thankfully we are in a good financial position, whereby there is no pressure to make any hasty decisions, but the reality is that we must address these significantly increased costs. Furthermore, we must also factor in the probability of more tax increases in the future, as the authorities continue to target the UK casino sector.

Cheers, Rob

PS. Last week's DTD Grand Slam overlays will have no effect on our future plans - at least the cash goes directly back into the poker community! I am certain that we will be more successful in the future. This was our first attempt and many venues would be pleased with a 194 field for a £1000k buy-in, especially taking into account the WSOP changed their dates and the market leading £1000 GUKPT took place just a week earlier.

Happy days!

DTD is simply the best, their attention to detail makes them a class apart from any other Cardroom I've visited, worldwide. Long may it last.

I hope it never changes ownership, because it's the personal care by Rob, Nick, & his Team, that makes it what it is, & nobody could replicate that.

I wish them a successful future, against all odds, starting with this weekend's £300 Deepstack, through the two remaining Grand Slam Legs, & beyond.

[englishrose]

Great news that dtd will not be closing its doors. I have been there myself and loved it. All the best rob...from all at the G Luton.

[david3103]

Rob Yong for PM

[boldie]

Rob Yong for PM

MP should do the trick...that way he can lower the rates and lobby for the tax increase to be revoked

[david3103]

Rob Yong for PM

MP should do the trick...that way he can lower the rates and lobby for the tax increase to be revoked

i was proposing him as PM with a far wider remit than merely saving DTD.

[Gazza]

OFFICIAL DTD PRESS RELEASE

Dear DTD Employees and Members,

Following on from some recent speculation, rumour and misquotes, I would like to make it absolutely crystal clear that there is no chance of us closing in the near future, or trading unlicensed to avoid paying higher taxes.
In reality, closing the doors would probably never happen, as a number of companies have registered an interest to acquire us, should we ever feel that the "struggle" gets too much!

When we chose to take the legal route by applying for a full casino license, we budgeted for all of the additional costs of operating legally, such as licensing fees, extra security measures and the employment of a dedicated compliance officer. Unfortunately, because we chose this path, we have recently become "caught in the crossfire" between the authorities and the casino industry. Consequently, we now face major tax increases in the form of;


1. VAT - this is now based on our total gaming area, so our 46 poker tables are treated exactly the same as having 46 roulette tables – now that is a super casino! Therefore, VAT is not reclaimable on almost all of our running costs, including any capital expenditure spent on the building.

2. Business Rates - these have literally gone through the roof and we are now paying the same rates as a 22,000sqft fully equipped casino. It has been indicated that this re-evaluation was prompted by another casino objecting to the level of rates that we were previously paying.

3.Gaming Duty - the appropriately nicknamed "Poker Tax" is now payable on all tournament registration fees and cash game charges, unlike a full casino, poker is 90% of our income and this new tax is applied to all of our poker revenues - whether we make a profit or not.

Despite these setbacks, it will still be "business as usual" at DTD; however, Nick and I will be considering the options as we move ahead. We also intend to consult our members and employees for their views at a future date. Thankfully we are in a good financial position, whereby there is no pressure to make any hasty decisions, but the reality is that we must address these significantly increased costs. Furthermore, we must also factor in the probability of more tax increases in the future, as the authorities continue to target the UK casino sector.

Cheers, Rob

PS. Last week's DTD Grand Slam overlays will have no effect on our future plans - at least the cash goes directly back into the poker community! I am certain that we will be more successful in the future. This was our first attempt and many venues would be pleased with a 194 field for a £1000k buy-in, especially taking into account the WSOP changed their dates and the market leading £1000 GUKPT took place just a week earlier.

Great news!