The Nautica Charity Poker Festivals, located in Cleveland, Ohio, have announced an expansion for 2008 charity events. The organization’s fourth season will move from the large tent to the ground floor of the Powerhouse at the Nautica Entertainment Complex, which provides year-round access and the ability to host tournaments for 46 weeks out of the year.
The Powerhouse will provide Nautica Charity Poker Festivals with a 12,000 square foot location, which was made possible by the approval of a lease recently approved by the Cuyahoga Board of County Commissioners. The lease enables the Nautica Charity Poker Festivals to rent the space for exactly $1 per year, and the sub-lease agreement allows each charity to be charged only $1 per week to use the space. The organization expects to earn over $1.5 million in net revenue annually, beginning in 2008.
Executive Vice President for Jacobs Investments, Inc, owner and operator of the Nautica Entertainment Complex and coordinator of the festivals, said, “We look forward to continuing the tradition of helping charities raise much-needed funds in 2008.”
Dave Grunewald, Vice President of Development and Leasing for Jacobs Investments, added, “We would like to thank the Cuyahoga County Commissioners for their continued support of the festivals and the charities that benefit from them. The festivals have accomplished exactly what we hoped. They generated significant funds for local charities and provided another entertainment alternative for the people of Northeast Ohio.”
The Nautica Charity Poker Festivals will begin the new season on March 27th. Each festival is operated by a charitable organization qualified and accepted by Jacobs Investments, and the organizations receive 100% of the proceeds from their events. Those funds are raised by charging players of poker or blackjack an hourly seat fee, as well as accepting donations, charging for food and beverage, and asking for paid sponsorships. Poker events are the most popular, and there are 30 tables available for action, whether for cash games or tournaments.
Each charity can also use the space for demonstrations, information booths, speakers, and other artistic activities. Most charities average $30,000 of net income for a four-day festival, as calculated over the 2007 season. And since the festivals began in 2005, more than $1.75 million have been raised for various local Ohio charities.
Some of the charities that participated in the 2007 season of the Nautica Charity Poker Festivals were school athletic programs, art education programs, Easter Seals, Cleveland State University Foundation, Special Olympics, and the Lupus Foundation of America.
For more information, to add a charity, or to reserve space for a function, visit www.NauticaCharityPoker.com.