Nick was round my house last night, he won a seat on Stars for the WSOP main event so he'll be joining Chubbs out there. He's been flat out on our last apartment project so the "break" will do him good, ready to get stuck into the DTD re-fit project when he gets back. You never know, maybe he'll get a big cash and lend me some money to replenish my ever decreasing cashflow. I'm not joking..............I'm well over £600k costs now and don't have much to show for it. I'm paying wages and bills out left right and centre with no revenue coming in, hopefully now that Rebecca, my FD, has taken over the money side, we'll get some type of controls in place. She is doing her nut with all the money I am spending, and I keep having to get her to "have faith".
Once I can get this Gaming Licence nailed down, I know I can start to turn the corner and things will progress at a much faster rate. Also, when we get some DTD office space (there is loads of room above my pub,The Broxtowe!) I can start putting some pressure on people, its all a bit disjointed at the moment. What started as a throw away comment by Nick , quote: "why don't we just open our own poker club?", after being ejected from Notts Gala for being 1 minute late, has created a monster. I suddenly find myself trying to put together a business much bigger than I first anticated with many more complications. In reality, there is no more international poker for me for the foreseable future.
Anyway, I have a much better idea of the costs now, I had to supply the Gaming Board with all of the financial information on set up and running cost and they are as follows:
Set Up:
Pre-Opening Costs (licencing, wages, planning, design, IT etc) £0.75m
Re-Fit Costs (building works, flooring, electrics, heating etc) £0.90m
Fixtures & Fittings (poker tables, chairs, furniture, Audio, TV etc) £0.35m
Total £2m
Year 1 Running Costs
Wages (dealers, bar staff, management etc) £1.25m
Overheads (lease, rates, utilities etc) £0.35m
Marketing (online & Live) £0.40m
Total £2.0m
A bit scary, but you need that to get the adreneline going, don't you?
