Apologies if posted elsewhere. I searched around and didn't see it. Given it's the height of the PG season at LakePoint, I figured I'd share. A little dated and it's been fairly common knowledge to those of us living in the vicinity that they've struggled to meet payments and have even restructured to some degree in the past.
Not to worry if you have a tourney here soon, still open as usual as they just hosted the PG Jr National a week back. The AJC story sums it up fairly well.
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I think most people see all the money going into these types of facilities and don't realize how little profit margin there is. I remember one of those Dream Parks they built in Arizona was funded through bonds with the idea that the economic impact would be huge. Only later did the city council do the math and figure out that it couldn't possibly be in the black until about 2095 even at full capacity use.
Thanks for sharing... interesting. I've seen several come and go but none as prominent as this one. It's actually hard to imagine a business man/group getting together and saying "hey, this makes sense as a profitable business!". Almost has to be someone passionate about sports and willing to donate a chunk of land. And even then, there are hurdles. Capacity can be a very elusive target for most of these places.
Some new investment groups in the surrounding amenities market. Good news for LakePoint. Indicates confidence that they will emerge strong after the reorg.
