Taocx Open with - Case Study: Chuck 'em, a Dragons' Den Dream? Entering the Dragons' Den are two close friends, Bernie Ruoff and Larry Yurkiw, from Hamilton Ontario. They have valued their business such that a 20 percent investment is worth $350,000. That would mean that the company is worth five times as much, or $1.75 million. The business concept is a new casino game. The game involves three dice on a table. The Dragons compared the game to craps (a traditional casino dice game). The Dragons tested the game and like the playability. The big selling point is that the game allows more types of betting to provide variability. Bernic and Larry were able to get Niagara Fallsview Casino to offer the game to their players for three months. During the three-month trial in the casino, the game contributed more than 25 percent of gross, which is 7 percent more than blackjack. The pitchers suggest that casinos are looking for new games, but they claim that new management at Niagara Fallsview Casino went back to traditional games only. Their game was out. The partners want to build demand so that casinos bring in their game. So, the future for Chuck 'em is a website. They believe that they should go to an Internet application to build potential customers + Page 2 / 3 ENG The two entrepreneurs claim to have spent $375.000 of their personal cash on the game so far. It's clear that they have made a significant investment in the prototype they brought to the show. We can guess that it cost them some money to get the game into the Niagara Fallsview Casino, but the Dragons seem to think a lot of the money was spent living high in the Caribbean, where, according to the pitchers, they were doing research and marketing the game. Critical Thinking Questions 1. How do you think the two partners came up with the idea? 2. What are the advantages and disadvantages of using friends in your start-up business? 3. Do you think that a lower valuation might have interested the Dragons? 4. What do you think of Kevin O'Leary's advice? Have a look at other episodes and compare his comments. Would that sort of mentor help or hurt an entrepreneur? 5. Check the status of the Chuck em business today, FORMAT SPECIFICATIONS & SUBMISSION Page 3 @ + Tent as either a Microsoft Word Review. revise, and edit your work Save Taocx Open with - Case Study: Chuck 'em, a Dragons' Den Dream? Entering the Dragons' Den are two close friends, Bernie Ruoff and Larry Yurkiw, from Hamilton Ontario. They have valued their business such that a 20 percent investment is worth $350,000. That would mean that the company is worth five times as much, or $1.75 million. The business concept is a new casino game. The game involves three dice on a table. The Dragons compared the game to craps (a traditional casino dice game). The Dragons tested the game and like the playability. The big selling point is that the game allows more types of betting to provide variability. Bernic and Larry were able to get Niagara Fallsview Casino to offer the game to their players for three months. During the three-month trial in the casino, the game contributed more than 25 percent of gross, which is 7 percent more than blackjack. The pitchers suggest that casinos are looking for new games, but they claim that new management at Niagara Fallsview Casino went back to traditional games only. Their game was out. The partners want to build demand so that casinos bring in their game. So, the future for Chuck 'em is a website. They believe that they should go to an Internet application to build potential customers + Page 2 / 3 ENG The two entrepreneurs claim to have spent $375.000 of their personal cash on the game so far. It's clear that they have made a significant investment in the prototype they brought to the show. We can guess that it cost them some money to get the game into the Niagara Fallsview Casino, but the Dragons seem to think a lot of the money was spent living high in the Caribbean, where, according to the pitchers, they were doing research and marketing the game. Critical Thinking Questions 1. How do you think the two partners came up with the idea? 2. What are the advantages and disadvantages of using friends in your start-up business? 3. Do you think that a lower valuation might have interested the Dragons? 4. What do you think of Kevin O'Leary's advice? Have a look at other episodes and compare his comments. Would that sort of mentor help or hurt an entrepreneur? 5. Check the status of the Chuck em business today, FORMAT SPECIFICATIONS & SUBMISSION Page 3 @ + Tent as either a Microsoft Word Review. revise, and edit your work Save