Quote:
Originally Posted by Mike Johnson
Agreed. I figure it sometimes best to let the audience make their own conclusions of a guests answer and that was one I believed was very obvious to for our listeners to read between the lines. We had Matt Savage on just two weeks earlier who made it clear the whole purpose behind running tourneys at all was simply to get the people into the building to eat, drink, gamble in the pit and book hotel rooms. It was a little surprising that Seth took time to clarify that they lose money on running tourneys as it's pretty much common knowledge that they have always been a lost leader and exist only for the big picture revenue. If they plan to continue to raise rake/fees/add-on to the point of trying profit on the tourneis themselves, quite simply, no one will play. Hopefully they are well aware of that.
But seriously, MJ nailed it.
We can't be accosting guests yelling "prove it" when Seth says something like "we lost x dollars on the circuit events last year".
Did they lose money on the actual tournaments? Very likely. Are they interpreting a strict definition of the accounting in this instance? Also very likely.
They wouldn't keep doing the series if it was a net negative, so we have to assume that there are some ancillary benefits to holding the events.