Jacobs Investments takes 2008 Nautica Charity Poker Festival inside at the Powerhouse

Now that it has moved indoors, the 2008 Nautica Charity Poker Festival is hoping for a full house almost year-round.

On Thursday, the festival opened inside the Powerhouse at Nautica Entertainment Complex. Plans are for poker events to be held on 46 Thursday-through-Sunday weekends a year.

That's more than double the number held in recent past seasons under a tent on the west bank of the Flats. Charities host the events as fund-raisers.

"The games raised about $600,000 previously, but with the added weeks, we expect that $1.5 million a year will be raised for charity," said Dave Grunewald, vice president of development/leasing for Jacobs Investments Inc., which owns the Nautica complex.

Jacobs Investments leases the Powerhouse site to the county for $1. Charities then rent the site from the county for $1 per weekend.

In recent years, the charities have included Ohio Junior Hockey, the Police Athletic League and Art On Wheels Inc.

The charities use volunteers to run Texas hold 'em poker games. Up to 200 people play poker. The charity does not get a share of the table stakes, but earns money by charging each player a $10 to $20 an hour seat fee and through concessions.

Expenses are about $8,000 a week.

"We do it to help out the charities," Grunewald said. "They are always looking for creative ways to raise money. This seemed like a natural."

Developer Jeff Jacobs, head of Jacobs Investments, opened the poker tent north of his Nautica Entertainment Complex in the summer of 2005. Demand and proceeds have continued to climb since.

Jacobs has said he wanted to help charities weather a tough economy and showcase the west bank of the Flats as a future site for a casino, if such gambling is ever legalized in Ohio.

Jacobs also has said he wants changes in state law that would allow revenue from charity card centers to be split among charities, local and state governments and landlords like him.

News Added: 28 March, 2008

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