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Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread)

01-04-2022 , 09:35 PM
Quote:
Originally Posted by Fore
Some is more like a few. Most did not work with cities and many actively work against cities or locals. Any one selling or providing alcohol did not work with them in good faith. Plus it is state law being violated if violation is ocurring. City can’t speak for state.
Which, as you know, has been fully discussed in the other thread.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-04-2022 , 10:27 PM
Not flexing but speaking from direct working experience.

Opened 1st of what was planned 5-6 , 10-15 table Charity Poker Rooms in OH. was sort of pretty much well within the law.

1st one was doing fine. Met several times with city council of 2nd location. 8/9 council members were gung ho and we were moving forward.

Sadly I didnt realize the 9th was connected with State Atty general. 9th guy created a ruckus. 1st room got a letter 20 days later from AG to cease. that was the end of our Charity Poker business in that state.

these rooms are literally built on a house of cards from a legality angle. one little move or random event can blow the whole thing over quickly.

The bigger they get and the more of them that open, the bigger target they become #fact
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-04-2022 , 11:12 PM
Brad Owen and Andrew Neeme probably got 900% mark up on their investment. In other words, they only had to put up 1% money for every 9% of ownership share that they got.

This is a very favorable deal but a fair one in that their base of Texas followers are probably guaranteed to add a good amount of traffic to the place. Neeme and Owen value lies in marketing and customer development - the very essence of business.

Doug Polk and the others are probably in it for their technical expertise. They deserve much less mark up because they are pretty much dispensable. Zero mark up deserved. 1 to 1 in terms of money invested relative to ownership share.

Trooper has much stronger customer pull than Doug Polk, but Neeme and Owen are at a different level. No way Polk can bring more people in than Trooper.

Prediction: Rampage Poker, who has made himself very successful by learning from Owen, will find an even better deal for himself by the end of 2022.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 08:12 AM
Hilarious amount of absurd, misinformed speculation in this thread. As someone who's been close to these rooms for years now and know lots of the ownership groups in the Austin/SA area, a lot of the "information" being presented in this thread is crazy off base.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 08:30 AM
Quote:
Originally Posted by Chazley
Hilarious amount of absurd, misinformed speculation in this thread. As someone who's been close to these rooms for years now and know lots of the ownership groups in the Austin/SA area, a lot of the "information" being presented in this thread is crazy off base.
I'm not from USA so have no opinion to offer on these matters but it's clear a lot of it is just wild speculation which adds nothing to this thread!
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 10:27 AM
Quote:
Originally Posted by Chazley
Hilarious amount of absurd, misinformed speculation in this thread. As someone who's been close to these rooms for years now and know lots of the ownership groups in the Austin/SA area, a lot of the "information" being presented in this thread is crazy off base.
This post is staunchly in the realm of net negative

What information are you talking about? Look at this shadowy individual with all the insider knowledge. What does he mean? Ooooh, so mysterious
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 11:26 AM
Quote:
Originally Posted by coordi
This post is staunchly in the realm of net negative

What information are you talking about? Look at this shadowy individual with all the insider knowledge. What does he mean? Ooooh, so mysterious
The only bad information presented IMO is the claim that clubs are clearly violating the law. That’s a personal opinion of a poster who I presume is not a lawyer. I do have lawyer friends who are regs in the Texas poker scene and they don’t agree. Personally, I don’t know what’s true and I doubt anyone actually knows. Many of the posters arguing on the side of the non-illegality of the clubs probably aren’t as confident in their position as those arguing for illegality. I think the correct position is to not be certain of your position. No insider can speak for the law enforcement’s future plans. We just don’t know what the future holds.

The best argument against the “obvious” illegality of the clubs is the fact that of the many local jurisdictions not one has taken action against the clubs, outside the obvious example of the Houston raids … which we all know were thrown out by the Houston DA due to internal conflicts of interest. Many independent actors failed to shut these clubs in 7 years. That says something pretty strong about the current state of the law. We have 100s of examples of clubs not being shut down, and no examples of clubs being shut down. That’s a lot of data that indicates a strong stability in the Texas poker club scene. How long that stability will last is anyones guess … of course any stable environment is susceptible to disruptions. Anyone in this thread who says they have a strong idea when said disruptions will occur is just talking out of their a$$ IMO.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 11:50 AM
Quote:
Originally Posted by ChaosInEquilibrium
We have 100s of examples of clubs not being shut down, and no examples of clubs being shut down.
I don't understand why we are still talking about this off-topic subject which is supposed to go in the other thread but I feel compelled to point out that your statement is completely false. Lots of clubs have been shut down.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 11:51 AM
So I think it was Brad that said they had a majority ownership. Matusow said he could open up a new room with about $600k or so. How much did Doug, Brad, Andrew ponied up to take 51% or more control? Had to be a couple of million since Lodge is one of the biggest, if not the biggest rooms in Texas. Thinking Doug had the lion share since Brad and Andrew based on their poker winnings videos probably could only mustered up less $500k combined?
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 11:52 AM
Quote:
Originally Posted by lwlee
So I think it was Brad that said they had a majority ownership. Matusow said he could open up a new room with about $600k or so. How much did Doug, Brad, Andrew ponied up to take 51% or more control? Had to be a couple of million since Lodge is one of the biggest, if not the biggest rooms in Texas. Thinking Doug had the lion share since Brad and Andrew based on their poker winnings videos probably could only mustered up less $500k combined?
It's not just Doug, Andrew, and Brad. There are 8 new owners.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 11:54 AM
Quote:
Originally Posted by Dream Crusher
It's not just Doug, Andrew, and Brad. There are 8 new owners.
Yeah, this type of speculation is completely pointless
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 11:58 AM
Quote:
Originally Posted by Dream Crusher
It's not just Doug, Andrew, and Brad. There are 8 new owners.
Damn 8 owners? So then the question is what do those 3 guys have invested? With so many owners, less than 10% each? Prob still decent return with that cash flow.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:01 PM
8 new owners is based on the beginning of this video where Doug lists the people involved: https://youtu.be/qLS9vpQpjxE
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:01 PM
Quote:
Originally Posted by Dream Crusher
I don't understand why we are still talking about this off-topic subject which is supposed to go in the other thread but I feel compelled to point out that your statement is completely false. Lots of clubs have been shut down.
Okay I’ll drop it.

About shutdowns I guess I should have said “outside of Dallas” which had its slew of shutdowns until TCH finally opened its location. But Dallas is special with Indian Gaming across the way in Oklahoma and whatever lobbying went on due to that. Are there examples in other jurisdictions? I couldn’t find anything on the web.

I’ll drop the conversation now since it’s been going in circles for too long.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:03 PM
Quote:
Originally Posted by ChaosInEquilibrium
Okay I’ll drop it.

About shutdowns I guess I should have said “outside of Dallas” which had its slew of shutdowns until TCH finally opened its location. But Dallas is special with Indian Gaming across the way in Oklahoma and whatever lobbying went on due to that. Are there examples in other jurisdictions? I couldn’t find anything on the web.

I’ll drop the conversation now since it’s been going in circles for too long.
And probably more importantly there is another thread for it!
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:08 PM
There have been shut downs before TCH opened in Dallas. There have been shutdowns after TCH opened in Dallas. These cover the entirety of the DFW area which houses a quarter of the state's population. There have been a variety of reasons for shut downs and I certainly wouldn't just chalk them all up to Oklahoma casinos.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:09 PM
Quote:
Originally Posted by lwlee
Damn 8 owners? So then the question is what do those 3 guys have invested? With so many owners, less than 10% each? Prob still decent return with that cash flow.
Too many owners and it quickly turns into a shitshow. I don't see this ending well.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:21 PM
Quote:
Originally Posted by Dream Crusher
8 new owners is based on the beginning of this video where Doug lists the people involved: https://youtu.be/qLS9vpQpjxE
I don’t think Fee is an owner from what I’ve heard. I think Polk was insinuating that he’d bring additional people in to help with the business as employees —- such as his video editor, who was also mentioned among the 8.

So 4 new owners and then 4 additional names that will come to help with marketing/running the stream/etc. At least as I understood it.


Previous ownership was Jason, Bob, and Rosa — Jason is the son of Bob and Rosa. Whole family moved to Austin from the Chicago area and opened the lodge around 2017/2018 IIRC.

Bob and Rosa sold their stakes in the business. Jason kept his stake. So now it’s Jason + 4 new owners if I understand correctly.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:27 PM
I understand why it may sound like that but all indications are that the video editor is part of the ownership (but I suppose he could be on the payroll):
Quote:
Originally Posted by SrslySirius
The new ownership group also includes a lot of behind-the-scenes talent with expertise in marketing, SEO, social media, video, etc.
Also not understanding why they would bring in Ryan Fee or why Ryan Fee would want to be involved without ownership. It's certainly possible they have less than 8 new owners. Also possible they have more than 8. To me it looks like it's most likely 8.

Clarification is needed. I'm not sure if I can support this business if the video editor is not involved.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:35 PM
Quote:
Originally Posted by Dream Crusher
I understand why it may sound like that but all indications are that the video editor is part of the ownership (but I suppose he could be on the payroll):
I think SrslySirius is probably speculating based on the same Polk video we watched where it’s ambiguous who the owners are. Polk says “here are 4 owners. And then we’re also bringing in 4 other people”. Does “bringing in” mean as owners or as paid staff/for marketing appearances? If SrslySirius does have insider info that would be cool to know.

Quote:
Originally Posted by Dream Crusher
Also not understanding why they would bring in Ryan Fee or why Ryan Fee would want to be involved without ownership. It's certainly possible they have less than 8 new owners. Also possible they have more than 8. To me it looks like it's most likely 8.
They’re probably bringing in Fee to commentate on strategy for some of their more high profile live stream games.

As far as Fee’s motives for involvement, isn’t he an owner of Upswing? I think the plan is for the Lodge Live Stream to serve as a promotional product for Upswing. Skull Mike’s instagram is already promoting Upswing.

Maybe you’re right. I’m obviously just speculating.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:38 PM
SrslySirius is the video editor.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:51 PM
^^ oh.
Okay I’ll shut up then haha.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 12:54 PM
Quote:
Originally Posted by ChaosInEquilibrium
I think SrslySirius is probably speculating based on the same Polk video we watched where it’s ambiguous who the owners are. Polk says “here are 4 owners. And then we’re also bringing in 4 other people”. Does “bringing in” mean as owners or as paid staff/for marketing appearances? If SrslySirius does have insider info that would be cool to know.

I am one of the owners
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 02:13 PM
Quote:
Originally Posted by ChaosInEquilibrium
The only bad information presented IMO is the claim that clubs are clearly violating the law. ThatÂ’s a personal opinion of a poster who I presume is not a lawyer. I do have lawyer friends who are regs in the Texas poker scene and they donÂ’t agree. Personally, I donÂ’t know whatÂ’s true and I doubt anyone actually knows. Many of the posters arguing on the side of the non-illegality of the clubs probably arenÂ’t as confident in their position as those arguing for illegality. I think the correct position is to not be certain of your position. No insider can speak for the law enforcementÂ’s future plans. We just donÂ’t know what the future holds.

The best argument against the “obvious” illegality of the clubs is the fact that of the many local jurisdictions not one has taken action against the clubs, outside the obvious example of the Houston raids … which we all know were thrown out by the Houston DA due to internal conflicts of interest. Many independent actors failed to shut these clubs in 7 years. That says something pretty strong about the current state of the law. We have 100s of examples of clubs not being shut down, and no examples of clubs being shut down. That’s a lot of data that indicates a strong stability in the Texas poker club scene. How long that stability will last is anyones guess … of course any stable environment is susceptible to disruptions. Anyone in this thread who says they have a strong idea when said disruptions will occur is just talking out of their a$$ IMO.
Absolutely agree that nobody can say for sure what will happen because the decision to enforce any given law can be capricious and subject to politics. As to whether it's illegal, I don't think the statute could be any clearer - Sec. 47.02 b) carves out three exceptions, including #2 which reads:

2) no person received any economic benefit other than personal winnings

How the clubs will argue that the owners, employees, dealers, etc.. aren't economically benefiting from gambling in their clubs will be quite interesting. The notion that a judge would look at the statute and be persuaded the economic benefit enjoyed is disconnected from gambling by dint of how consideration is received as a membership and rental fee is specious. The statute's wording is broad and doesn't limit the definition of economic benefit to something as specific as a pro rata gambling commission like a rake, so why would a judge limit his interpretation to that? They'd have to argue paying customers would patronize the club in that same financial arrangement even in the absence of gambling offered. Doesn't pass the duck test.

As to the clubs being permitted to operate for years without serious interference as meaningful to their presumed legality, no. There are plenty of precedents against that, including for poker itself.
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote
01-05-2022 , 03:53 PM
I mean if anything has been learned from 88 is the accounting of these clubs is atrocious and the chips outstanding/time outstanding/liabilities are way higher than you'd expect. What sounds like a good deal at $X suddenly becomes bad when 2mil+ liabilities are mysteriously outstanding and not really accounted for properly.

you run the risk the past owner kept untold amounts of chips in his possession and slowly cashes them through friends which ends up bankrupting you over a period of time. just so much bad stuff can happen with an unregulated untrusted business changing ownership
Neeme, Owen and Polk buy stakes in "The Lodge" poker room, Austin TX (Lodge containment thread) Quote

      
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