How much does it cost to build a casino in Nevada from concept to completion?

Question

I'm looking for something that would tell me what I would need to even consider asking the bank for a loan. I'm not even sure where to begin and would like to know more about it! :)

Answer 1

The newest hotel/casino project that's going up right now called City Center is going to cost in the neighborhood of $8 billion once it's done. No bank anywhere will give you a loan large enough to build a strip casino. These projects are built by large corporations or billionaires who have a number of other billionaire backers.

That's not to say you couldn't build a very small, off the strip casino for much less. If I were to venture a guess, I bet you could build a small casino only place (no hotel) like Joker's Wild on Boulder Highway for $10 million or less. Again, I would doubt a bank would give you a loan for such a project, but with the right business plan you may be able to find private investors to fund you. Of course, if you have no experience running a company nobody's going to give you anything (private investors OR a bank), but I digress.

The cheapest way to get into the gaming industry would probably be to buy a bar with video poker. I've actually seen a pretty nice bar and grille in a real estate ad that was for sale for $850,000. That type of place would be something that you could learn the ins and outs of running a gaming establishment, and would give you the opportunity to expand by adding slot machines, and eventually take the step up to a full scale casino with table games.

But yeah, if you're relying on a bank loan to get you started, think again. You need a person or group of people with money backing you if you don't have at least $1 million to get started.

Answer 2

considering the population, costs and a diversity of variables, i estimate the total cost to be about 19.5 million dollars, but if you were to open the casino to the public [which you most likely will] you will probably make about $750,000.00 a day

Answer 3

The Venetian originally cost $1.4 billion. There has been two major additions since then so I figure it is probably getting close to $3B by now.

Obviously you might be looking to build something a little less elaborate than the Venetian but regardless no bank is going to lend someone who needs to use Yahoo Answers to get an estimate the money. Banks usually prefer the individual borrowing have a basic grasp of the industry first.

Answer 4

Casinos in Vegas are owned by MAJOR corporations.  Not only would you need hundreds of millions of dollars to open a casino, you would then need to convince people that yours has something that others don't have.  Unfortunately, your competition are multi billion dollar corporations.

Even famous well established casinos like Binion's had to sell out to the big boys.  So the odds of you approaching a bank and convincing them to lend you hundreds of millions of dollars to build a casino is pretty slim.  You'd probably have better odds of winning the lottery.