Does GPI/Paulson Really Care? (1 Viewer)

Thought I saw somewhere that Apache (Josh) rolled by their table at the Con this year and threw out a guaranteed 100k buy to see if anyone would even talk to him and there was 0 interest. Not a million, but if they won’t even talk to you for a 100k sale to see what else you might have, does not sound as if they have any interest in dealing with even a reseller type situation. Will try to find the thread.

Edit: It was actually 500k that he offered

https://www.pokerchipforum.com/threads/g2e-2022-report.96183/#post-1993550
I’ve worked for several technology firms that had between $80-200M in total annual revenue and the idea of not even having a conversation with someone that would commit to spending $500K in one shot is insane in a vacuum with a sales rep comped on one time revenue.

I wonder how much of Paulson’s revenue is monthly recurring stuff like maintenance or whatever (think Shufflemaster and their insanely expensive maintenance contracts with casino properties). Running a business with one-time revenue like just chip sales or professional services is rough from a cash flow perspective.
 
I’ve worked for several technology firms that had between $80-200M in total annual revenue and the idea of not even having a conversation with someone that would commit to spending $500K in one shot is insane in a vacuum with a sales rep comped on one time revenue.

I wonder how much of Paulson’s revenue is monthly recurring stuff like maintenance or whatever (think Shufflemaster and their insanely expensive maintenance contracts with casino properties). Running a business with one-time revenue like just chip sales or professional services is rough from a cash flow perspective.
I work for a 54 billion euro revenue company and we'd gladly take a $500k order - IDK who you are.
 
If I am looking at this number as a business owner, a non-casino buy of +500,000 chips at $4.00 each via someone like Jim or Apache, would be attractive.
Unless taking that order resulted in a real cost or opportunity cost (or revenue churn) that potentially outweighed the one time revenue.

Example - a $500K order from us results in their losing 2 casino clients that do $150K of business every 2 years. And these clients obviously talk to others in their industry. Creates some not so good spots for a risk averse security focused gaming supply company.
 
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I wonder if the Nevada (and other) gaming commissions have anything to do with it? I don't know if the NGC has any say on what merchants you can buy your casino chips from. If they do, AND if the NGC says, "You can't sell to the home market or we'll revoke your license/approval," then that's the end of it.
 
Other interesting nuggets from their last annual report.

1) Chips only account for 44% of GPI’s sales. So recurring revenues from other business lines are equally if not more important than chips. Maybe we should update to PCCF “Poker Chips and Cards Forum”

2) As others had mentioned, RFID solutions were outlined as their key value to customers and edge on competition. RFID chips grew significantly as a share of their revenue (18% to 24% in a year) and failing which would pose a major risk to their business.

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Remember that GPI did offer the promo chips to the public market but they even canned that probably because it wasn’t making them enough money.

And also, while GPI could make a few million offering casino Paulson to us monkeys, that market would dry up quickly. The majority of the reason these chips sell for as much as they do is that they’re unobtanium. If they were easily available then they’d all be selling for max $3/chip.

Remember we have a custom clay chip company that will sell to us but more cards molds are ordered than CPCs…
 
Remember that GPI did offer the promo chips to the public market but they even canned that probably because it wasn’t making them enough money.

And also, while GPI could make a few million offering casino Paulson to us monkeys, that market would dry up quickly. The majority of the reason these chips sell for as much as they do is that they’re unobtanium. If they were easily available then they’d all be selling for max $3/chip.

Remember we have a custom clay chip company that will sell to us but more cards molds are ordered than CPCs…
Would be interesting to see what the Paulson home game chips were selling at its peak. How were they sold at the time?
 
Yah I don’t think they realize how many thousands of racks they could sell if they offered ALL the old home lines at 400-600 a box. They do shaped inlays for Ballys or GN still? If they did it again for all the old home lineups they’d probably not believe their eyes
I bet half the GPI employees would be flabbergasted if they saw people paying face plus for now dead $5 RACKS
 
Yah I don’t think they realize how many thousands of racks they could sell if they offered ALL the old home lines at 400-600 a box. They do shaped inlays for Ballys or GN still? If they did it again for all the old home lineups they’d probably not believe their eyes
I bet half the GPI employees would be flabbergasted if they saw people paying face plus for now dead $5 RACKS
They didn’t even have a conversation about a $500K order offer at a conference where people will generally entertain a conversation about the weather or the floral pattern in the carpet. I think they know and just don’t care.
 
Unless taking that order resulted in a real cost or opportunity cost (or revenue churn) that potentially outweighed the one time revenue.

Example - a $500K order from us results in their losing 2 casino clients that do $150K of business every 2 years. And these clients obviously talk to others in their industry. Creates some not so good spots for a risk averse security focused gaming supply company.

This was why I thought they abandoned the home market, because their larger casino clients didn't want paulsons in the wild at prices that would make counterfeiting easier
 
They didn’t even have a conversation about a $500K order offer at a conference where people will generally entertain a conversation about the weather or the floral pattern in the carpet. I think they know and just don’t care.
Yah I mean turning up your nose at a couple million over the first year alone is crazy
4 million $$ in chips at 400 a rack minimum is a million chips
Or 10,000 racks
I think at fever pitch like now and calling old chips like WTHC sets as grail chips, I think we could clear that order in about a fortnight
 
why are people so interested in discussing this topic so much? Isnt this a solved spot now? Or is it just the human need to speculate and talk about things they have no first hand knowledge of?

If anyone that thinks for one reason or another GPI/Angel just haven't received the right proposal yet to get them to magically start selling to the consumer again, by all means feel free to take your proposal directly to GPI/Angel and prove the naysayers wrong.
 
why are people so interested in discussing this topic so much? Isnt this a solved spot now? Or is it just the human need to speculate and talk about things they have no first hand knowledge of?

If anyone that thinks for one reason or another GPI/Angel just haven't received the right proposal yet to get them to magically start selling to the consumer again, by all means feel free to take your proposal directly to GPI/Angel and prove the naysayers wrong.
Why do people bitch and moan endlessly about anything they can’t change ???
 
Yah I mean turning up your nose at a couple million over the first year alone is crazy
4 million $$ in chips at 400 a rack minimum is a million chips
Or 10,000 racks
I think at fever pitch like now and calling old chips like WTHC sets as grail chips, I think we could clear that order in about a fortnight
I dont see that kind of demand at $4 a chip. It would have to be closer to $2-$2.5 a chip to even have a chance to get through those volumes IMO
 
I dont see that kind of demand at $4 a chip. It would have to be closer to $2-$2.5 a chip to even have a chance to get through those volumes IMO
Lol
Have you seen sales at $9 a chip
Or live $5s for 600 a rack
I think you underestimate this place

To give shaped inlays again at $500 a box for yellow / fucshia / anything LeCoves colors, this order pages would melt down
 
Yah I mean turning up your nose at a couple million over the first year alone is crazy
4 million $$ in chips at 400 a rack minimum is a million chips
Or 10,000 racks
I think at fever pitch like now and calling old chips like WTHC sets as grail chips, I think we could clear that order in about a fortnight

They aren’t turning their noses up at orders. Obviously. Orders are going through at a pace easy enough for them to accommodate and for monies much less than millions. Not saying you can just pick up a catalog, but obviously people are having conversations with representatives and salespeople and are ordering, buying, and taking delivery of chips. Maybe they don’t deal with INDIVIDUALS, but they obviously will deal with COMPANIES. start a business that has a reasonable need for poker chips and they will obviously sell to it.

But “that’s too hard”. Or “the entry barriers are too high”. Or pick any other procrastinating reason. Or just bitch about it.
 
They aren’t turning their noses up at orders. Obviously. Orders are going through at a pace easy enough for them to accommodate and for monies much less than millions. Not saying you can just pick up a catalog, but obviously people are having conversations with representatives and salespeople and are ordering, buying, and taking delivery of chips. Maybe they don’t deal with INDIVIDUALS, but they obviously will deal with COMPANIES. start a business that has a reasonable need for poker chips and they will obviously sell to it.

But “that’s too hard”. Or “the entry barriers are too high”. Or pick any other procrastinating reason. Or just bitch about it.
Need a legit gaming license I think is the policy
 
This just blows my mind. I think the casinos just make so much damn money, they probably figured out how many Jumers 100's were made, and just said F$%#K it, that is like a few hours of profits on a good Friday night, just let em come and try.

I think for the most part it’s an irritant to them and something along the lines of “nits breed lice” meaning if you let things slide, no matter how trivial, people start trying even more things to see if they will let them slide. Zero tolerance probably saves them large headaches in the future even if it isn’t impacting their bottom line that much, if any.

Look what happened when they let hoodies and sunglasses into the poker rooms. Gradually it’s become locker room poker.
 

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