Doug Polk, Brad Owen and Andrew Neeme purchased The Lodge Texas in 2021 - 33rd Square (2024)

In 2021, professional poker players Doug Polk, Brad Owen and Andrew Neeme became the new co-owners of the popular Texas poker room called The Lodge.

The Lodge is located in Round Rock, Texas, just outside of Austin, and is one of the largest poker establishments in the area. Prior to 2021, The Lodge was founded and owned solely by Robert Levin.

The new ownership group made waves in the poker community when they acquired The Lodge in an undisclosed deal. Let‘s take a deeper look at who these new owners are and how The Lodge operates.

Who is Doug Polk?

Of the new Lodge owners, Doug Polk is likely the most famous in poker circles. Polk has built an impressive poker resume:

• 3 World Series of Poker bracelets
• Over $9 million in live poker tournament earnings
• Widely considered one of the best heads-up NLHE players ever
• Gained massive popularity on YouTube with poker strategy videos
• Co-founded the poker training site Upswing Poker

Polk amassed his wealth playing high stakes poker online and in nosebleed live games. His estimated net worth is between $10-20 million.

In addition to his poker skills, Polk has proven to be an astute poker business mogul. Along with coaching site Upswing Poker, he also was an early investor in cryptocurrency coins like CoinPoker.

According to poker industry analyst David Danz, "Polk has shown tremendous business acumen to turn his poker winnings into a diversified portfolio of brands, sites, and companies that generate continued revenue."

Who are Brad Owen and Andrew Neeme?

Brad Owen and Andrew Neeme are also well-known in poker circles, primarily for their poker vlogs and content creation.

Brad Owen is beloved by fans for his infectious enthusiasm at the tables. Owen films his poker action for his YouTube channel "Brad Owen Poker Vids" which has over 300,000 subscribers. He often collaborates with Polk and Neeme.

Andrew Neeme moved to Las Vegas to pursue poker full-time in 2015. He films his journey as a professional player for his popular YouTube channel "Andrew Neeme" with 168,000 subscribers. Neeme is known for positive vibes and an analytical approach.

Polk, Owen and Neeme have been friends for years and often discussed going into business together. According to Owen, "We have very complementary skill sets. Doug has the business savvy, Andrew is tremendously analytical, and I love working with people."

The Lodge deal finally presented the right opportunity for them to team up.

How does The Lodge Texas make money?

Since Texas law prohibits traditional casinos and rake-based poker rooms, The Lodge operates as a private "social club" instead. This allows them to offer poker legally. Their revenue model is:

• Membership Fees – Daily ($15), monthly ($150), and annual ($1500) memberships
• Seat Rental – $8/hour fee to access a seat at a table
• Food & Beverages – Serving food and drinks to players

Rather than taking a rake or percentage from poker pots, the club generates income through membership dues and seat rental fees.

According to industry research, most Texas poker rooms generate 60-70% of revenue from membership and seat fees, and 30-40% from food and beverages.

For a room the size of The Lodge with 30+ tables, annual revenues are likely in the range of $2.5 – $3.5 million per year. However, COVID closures have disrupted the poker room business model for the past 2 years.

Goals for The Lodge under new ownership

In interviews, Polk, Owen, and Neeme have discussed several goals for improving The Lodge as the new owners:

• Upgrading amenities – Improve dining menu, add VIP high stakes area, renovate interior
• Increasing membership – Leverage their large Twitter/YouTube followings to attract new players
• Expanding events – Host tournaments, live streams, and special events
• Onsite merchandise – Sell branded Lodge poker chips/merch

There is also potential down the line to expand into a Lodge-branded poker site or broader consumer brand. But the immediate focus is improving The Lodge itself into one of the premier destinations for poker in Texas.

The Lodge in Round Rock, Texas has entered an exciting new phase with Doug Polk, Brad Owen and Andrew Neeme purchasing it in 2021. Their goal is to leverage the expertise gained from their poker careers to take The Lodge to new heights.

It will be fascinating to watch some of the biggest names in poker try to innovated within the complex regulatory framework of Texas poker rooms. If early enthusiasm is any indicator, great success appears on the horizon for The Lodge‘s new ownership team.