Quote:
Originally Posted by punkass
I might be off with my calculations/estimates, but how are they able to fund these promotions, as well as the added funds to the bad beat jackpot in May? It seems they collect nowhere near the levels necessary to fund the promos.
Theory would be that they are trying to spend their funds and then eventually close the room?
What are your calculations/estimates? Mine sort of work out ...
Let's guess just 5 tables are running for 15 hours per day. The rake is still 6+1, right? if we say 30 hands per hour, that's 5*15*30 = $2,250 per day added to the BBJ, or $67,500 for a 30 day month.
The June promotions are $10,000 per day for 12 days - so $120K given away total. But May had only one promotion, which some $ were added to the bad beat jackpot to make it $50K. I think the BBJ was already at $38K when they added to it. Room traffic jumped and the BBJ wasn't hit for a few days, and I don't think the BBJ increased during that time - so possibly they spent $0 in promotions in May, which means they may have $60K or more left over from May.
Obviously, those numbers include some wild guesses, but the math is close enough for me to think they are still trying to keep the room open.