blonde poker

 

I guess you have all read the press release that I put out last week. Of course, its not the decision I would like to make, but we have come too far to make a knee jerk mistake and start breaking the law. The UK Gambing Commission are supporting us as much as they can, and the courts are just doing their job, so throwing the toys out of the pram is not an option. Months will fly by, and we can use this period to set up a full 7 days per week operation instead of the "start small" plan of a 4 day a week club.

Financially, these delays have already made the project a milestone around my neck, so these further delays just make the bills a bit more hard to swallow, but swallowed they must be, I chose to take these risk without any outside financing at the end of the day. However, my decision not to finance thsi project with the bank/other investors has proved correct, imagine if I take some of the generous offers from individuals to invest in DTD, how would they be feeling now? At least this way, I am the only only one suffering due to these delays.

Over my time in business, I have taken many risks outside of the norm, but I have to admit, DTD wins "biggest loser of all time" in my business portfolio (so far), I mean, I don't even own the building, so there is zero asset value to the venture IMO, the whole cost of the project is an "expense" rather that an "investment", altough my accountants will treat the re-fit of the club as capital expenditure over the full term of the lease. Many concerned well wishers have voiced their sympathy over the spiralling costs of DTD, but one must remember, to be able to blow around £4m in cash, you have to be a pretty lucky guy in the first place to "have it to blow it", if you know what I mean.

Also, each month when you add all my businesses up, I still make a decent profit, so I am damn lucky, not unlucky. I suppose the point I'm making is that I can sustain these losses till we open the club, and further if I need to. Even if someone came along to to "bail me out" and make an offer, I would say "no", as this project needs to be seen through to the bitter end now, too much effort and pain has been gone through, even if the place would make a "wonderul casino" to a potential purchaser (yes, I have had 2 opportunistic enquirers).

One lesson that I have learnt is how important is to have "your good people" around you, I'm not saying that I don't have good people within DTD, its just that for future projects (yes - I am sick, there will be more!) I will be doing them with more of my "trusted team" of advisors involved rather than "going solo" and doing things on my own, which I have done with DTD thus far.

However, one question should be addressed, "What happens if we are unsuccessful at the September hearing?" - answers on postode please lol

Cheers and thanks for all your support