scheherazadesghost Posted January 13 Share Posted January 13 24 minutes ago, mcjordansc said: A couple of posters have a lot more time on their hands now. I literally just said the opposite on page one but ok troll away. 😘 You could just celebrate this good news like the rest of us.... 3 Link to comment Share on other sites More sharing options...
Richard Lesher Posted January 13 Author Share Posted January 13 This is my new Focus. Vanguard is losing money on traditional bingo. Below is schedule G from the 2022 IRS 990. They paid out more in prize money than took in for traditional Bingo Card sales. They are only making money on pull tabs (mini lottery tickets). This happens again in 2021. This does not happen over the same time period for their Bingo competitors that also operate in Santa Clara (The Aquamaids). This didn't start to happen until the previous Bingo Manager who saved bingo from previous thefts finally retired and had no more oversight over Bingo. Yes, what the below numbers say is if Vanguard did not conduct traditional Bingo Games in 2022 they would have $647K more in money.                     Bingo        Pull Tabs        Total Revenue            $3,045,389    $14,086,274    $17,131,663 Prizes              $3,382,106    $9,746,316    $13,128,422 Other Expense       $310,696    $1,437,104      $1,747,800 Net                $(647,413)    $2,902,854     $2,255,441  I am eager to see what 2023 says.  Link to comment Share on other sites More sharing options...
Terri Schehr Posted January 13 Share Posted January 13 3 hours ago, Mello Dude said: Needs hot sauce. Â 1 3 Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted January 13 Share Posted January 13 19 minutes ago, Richard Lesher said: This is my new Focus. Vanguard is losing money on traditional bingo. Below is schedule G from the 2022 IRS 990. They paid out more in prize money than took in for traditional Bingo Card sales. They are only making money on pull tabs (mini lottery tickets). This happens again in 2021. This does not happen over the same time period for their Bingo competitors that also operate in Santa Clara (The Aquamaids). This didn't start to happen until the previous Bingo Manager who saved bingo from previous thefts finally retired and had no more oversight over Bingo. Yes, what the below numbers say is if Vanguard did not conduct traditional Bingo Games in 2022 they would have $647K more in money.                     Bingo        Pull Tabs        Total Revenue            $3,045,389    $14,086,274    $17,131,663 Prizes              $3,382,106    $9,746,316    $13,128,422 Other Expense       $310,696    $1,437,104      $1,747,800 Net                $(647,413)    $2,902,854     $2,255,441  I am eager to see what 2023 says.  So with a second bingo hall will they be able to lose money twice as fast? But seriously, something isn’t adding up.   Follow the money. Link to comment Share on other sites More sharing options...
Mello Dude Posted January 13 Share Posted January 13 1 hour ago, mcjordansc said: A couple of posters have a lot more time on their hands now. Possibly. So much angst and ego on the line I cannot imagine this passing by without a fight. 1 Link to comment Share on other sites More sharing options...
JimF-LowBari Posted January 14 Share Posted January 14 5 hours ago, IllianaLancerContra said: So with a second bingo hall will they be able to lose money twice as fast? But seriously, something isn’t adding up.   Follow the money. Wonder how saturated the Bingo market is in that area. IOW you open up a second hall to run certain nights you might be competing with already established games. Double halls does not guarantee double the money 3 Link to comment Share on other sites More sharing options...
Richard Lesher Posted January 14 Author Share Posted January 14 2 hours ago, JimF-LowBari said: Wonder how saturated the Bingo market is in that area. IOW you open up a second hall to run certain nights you might be competing with already established games. Double halls does not guarantee double the money That was never a logical business plan. They were operating below capacity anyway (at the time). Plus, the new location would need to RENT the facility whereas, their current location operating below capacity is a building they own. Mind you, the solution was to simply clean up current operations and that would have got them $2M net over 2021 and 2022. 1 1 Link to comment Share on other sites More sharing options...
Jeff Ream Posted January 14 Share Posted January 14 11 hours ago, scheherazadesghost said: I literally just said the opposite on page one but ok troll away. 😘 You could just celebrate this good news like the rest of us.... don't be logical this is DCP 1 2 Link to comment Share on other sites More sharing options...
Terri Schehr Posted January 14 Share Posted January 14 13 hours ago, JimF-LowBari said: Wonder how saturated the Bingo market is in that area. IOW you open up a second hall to run certain nights you might be competing with already established games. Double halls does not guarantee double the money I know Florida is God’s waiting room but even in the little community where I live, they have two bingo games running. I have no clue as to what it’s like in that part of California.  I’ve never been to bingo and I have no intention of going.  They had to call the police at the bingo game I worked at my son’s school.  Two old ladies got into a physical dust up because one of them sat in the wrong chair. 2 3 Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted January 14 Share Posted January 14 16 minutes ago, Terri Schehr said: I know Florida is God’s waiting room but even in the little community where I live, they have two bingo games running. I have no clue as to what it’s like in that part of California.  I’ve never been to bingo and I have no intention of going.  They had to call the police at the bingo game I worked at my son’s school.  Two old ladies got into a physical dust up because one of them sat in the wrong chair. Note to all:  Don’t sit in Terri’s chair. 4 Link to comment Share on other sites More sharing options...
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