Nautica Charity Poker Festival opens in new facility

Nautica Charity Poker Festivals will be located on the ground floor of the Powerhouse in a 12,000 sq. ft. location. The new location offers added benefits to charities hosting the Festivals and people attending them. Operating costs will be reduced for charities hosting the 4-day Festivals, provide them with more net revenue, and give local charities more weeks from which to select and host a Festival. Charities are expected to earn over $1.5 million of net revenue annually in the year-round location.

"I would like to thank the Cuyahoga County Commissioners for their continued support," said Dave Grunenwald, Vice President of Development/Leasing for Jacobs Investments, which owns the Nautica Entertainment Complex. "We're pleased the County approved their lease of the Festivals and we're excited so many charities are interested in hosting Festivals," added Grunenwald. Cuyahoga County will rent the space occupied by the Nautica Charity Poker Festivals for $1 a year and sublease it to a different charity each week.

Nautica Charity Poker Festivals feature the popular poker game Texas Hold 'Em played by adults 21 years and older, at up to 20 tables seating up to 10 players each. The four-day Festivals run from Thursday through Sunday. In addition to Texas Hold 'Em, the Festivals offer tournament Blackjack. They also feature cultural, artistic and craft displays, as well as charity demonstrations and information booths relevant to each charity.

Each Festival is hosted by a qualified charity that receives 100% of the proceeds in the form of hourly seat fees, donations made by patrons, food and beverage concessions and sponsorships.

In 2007, charities averaged $30,000 of net income for each four-day Festival. "That's significant income coming from a new source instead of traditional fund-raising sources that have had increasing demands placed on them," noted Carolina Martin, Executive Director of Art on Wheels, a charity hosting Festivals since 2005. Over $1.75 million has been raised for charities since the Nautica Charity Poker Festivals began in 2005.

"We look forward to continuing the tradition of helping charities raise much-needed funds and far surpassing the $2 million mark," said Pat McKinley, Executive Vice President of Jacobs Investments, Inc. Charities may reach the $3 million mark with the expanded schedule of Festivals in 2008.

The Nautica Charity Poker Festivals will begin March 27th with a Festival hosted by Ohio Junior Hockey. Weekend activities include a special Team Cleveland(TM) Texas Hold 'Em tournament on Saturday, March 29th, where players can win a $10,000 seat in the 2008 World Series of Poker(R). The World Series of Poker(R) is the most prestigious event of the poker year and is considered to be the ultimate achievement in any poker player's career.