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The LPC (London Poker Circuit) is no more.

Tikay10Tikay10
edited September 2009 in Poker Chat

The inevitable news arrived yesterday that LPC is no more.

Thankfully, they drew stumps without grimming anyone, & have not run up unpaid debts - fair play to them.

The business model was horribly flawed. Running Tourneys in Hotels was a guaranteed loser - nobody on earth can make a proifit by laying poker, never mind Tourneys only. Even DTD, with a massive weekly footfall, lose money.

And they bizarrely started off all wrong. They spent thousands on a grand Opening Party, attended by many of poker's faces. Poker players are never in short supply when there are freebies to be had.

But come the opening events, which were pitched WAY too big, at £1,000 a pop, they cold barely muster 2 Tables. Once they dropoped the Buy-Ins to sensible levels, they got the numbers, but it could never ever pay for itself, as cash games were not do-able, for legal reasons.
 
GG the LPC.
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Comments

  • Grimstar30Grimstar30
    edited September 2009
    In Response to The LPC (London Poker Circuit) is no more.:
    The inevitable news arrived yesterday that LPC is no more. Thankfully, they drew stumps without grimming anyone, & have not run up unpaid debts - fair play to them. The business model was horribly flawed. Running Tourneys in Hotels was a guaranteed loser - nobody on earth can make a proifit by laying poker, never mind Tourneys only. Even DTD, with a massive weekly footfall, lose money. And they bizarrely started off all wrong. They spent thousands on a grand Opening Party, attended by many of poker's faces. Poker players are never in short supply when there are freebies to be had. But come the opening events, which were pitched WAY too big, at £1,000 a pop, they cold barely muster 2 Tables. Once they dropoped the Buy-Ins to sensible levels, they got the numbers, but it could never ever pay for itself, as cash games were not do-able, for legal reasons.   GG the LPC.
    Posted by Tikay10
    So basically the main chance to run a successfull tournament series is the ability to put on side games including cash games, to increase footfall?

    Sounds like getting the right business model is tricky outside of casinos.
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  • unknown_usernameunknown_username
    edited September 2009
    I GOT THE E MAIL YESTERDAY ,, FUNNY ENOUGH YOU WERE SAYING WEDS THAT THEY DIDNT MARKET IT WELL AND HAVE PAID THE PRICE,
    IM A BIT GUTTED BECAUSE SOME OF THERE TORNS WERE A GR8 STRUCTURE ,LOOKS LIKE I MAY HAVE TO DRIVE 2 HOURS TO THE LUTON FAB TORNS.
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