OP

Quoted from timarnold:

Tim here to try and correct some wrong impressions of our past and current financial situations. The return mentioned above is from 2019, and represents only a snapshot of that time. Today we are in much better shape both in finances and operations. Pro-forma figures for 2022 will be done in early January and a final return will be submitted to the IRS in May. I have no doubt 2022 will be a record year for revenue. The summer was the busiest I have ever seen in a room IN MY LIFE. There was a huge pent up demand from Covid and a lot of free Government money that allowed Californicates to jump in their cars and come to Vegas. More recently, Nov 25th we hit a new record of 132 percent of capicity.
We have paid back both the loans we took out to build the new facility and we have rebuilt our insurance reserve to over half the Million Dollars it has been in the past. We have started making small gifts again after an almost total stoppage for the last 5 years. We have begun looking for deserving local charities that we could help in the coming year. We just make a donation of new equipment and computer stuff to IPDB.org to be able to scan very large documents and replace 11 year old PCs and keyboards.
What is holding us back on making more donations and what has also jammed our nice new facility with dead games is an ongoing legal battle invloving a mistake made by a Survey Company that has us left WITHOUT A PROPERTY LINE or CLEAR TITLE to our land. We can not get a fence permit and begin to use the last 28 feet of our rear until we get this rectified. We have settled with the private land holder building a Hotel next door, but the Airport will not sell us back the land that was taken. When we were back on Tropicana, we had 3 40 foot shipping containers that we had full of parts and unfinished games. We brought them over to the Strip and the County told us they were NOT allowed in this zoning, so we had to sell them at a loss and park the parts and games inside.
We are also involved with 3 other lawsuits involving the State Tax Comission, a Realtor, and the billboard company that leases a small part of our parking lot.
These matters have taken lots of time and money away from making our operations better.
If you read the Business Press or talk to small biz owners right now, they all say the same thing. There is NO help avaliable. Between boomers retiring and leaving the workforce and a government that pays able-bodied people NOT to work, it is very hard to just staff at minimum levels. This week at the PHOF, I am down 60 hours of help. Beth and Charlotte are out on sick or personal leave and Bill moved back to California. We will always find a way to keep the doors open, but enlarging the hours past 9PM and routine mantinance of equipment is getting cut.
There is also a total lack of skills in younger people who have never had any mechanical training.They also hesitate to invest in learning pinball specfic skills because there is no market for them outside this building.
You should also keep in mind that the HUGE amount of money we have sunk into ourt new building is not money taken away from our charitable partners, it is only DELAYED. At some point in the future, this project will end and all the assest will be sold. Look at what happened in Banning. The games were sold at auction, and the bulding were sold to a Pot growinfg facility. If and when the LVPCC ends, pay VERY CLOSE ATTENTION to what happens top the proceeds of the asset sales. Since property on the Las Vegas Strip very seldom goes down in value and the games inside are wort a lot, it could be a major payday for those in need.
We continue to work very hard 7 days a week to make things better and welcome any input from the collector community.