How much is it to buy a casino?

Question

I just wanted to know. Does anyone know how much it would be in Africa or Canada? Thanks

Answer 1

To buy a casino? That number of dollars is ridiculous dude. I don't think anyone could figure that out for you.

Answer 2

You know.

In those places, it is much cheaper to build a casino than buying one.

It would costs around 50 million to more than that.

Why would you ask that question?  

Answer 3

It's a bit like saying how much does a house cost?  I mean a house can vary from a tiny little thing right up to a massive Trump mansion worth $100m.

But I'd say it is going to cost a lot of money.  You have the value of the property, which can be pretty expensive.  Then all the tables and other machines are not that cheap.  Neither are little things like the chips (have to be hard to counterfeit for obvious reasons).  

There are just so many factors at play.

So I'm going to say millions of dollars in America or Canada.  Probably still an awful lot in Africa, but that would probably vary depending on which country you were talking about.

Answer 4

Somebody bought a tiny casino in downtown Las Vegas called the Gold Spike for $15.6 million and sold it a few months later for $21 million. It had become really really run down, so they are planning to spend a lot of money to fix it up.

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- There is a good book called "Double or Nothing" about two friends who bought the Golden Nugget in downtown Las Vegas for $215 million (finalized the deal in mid 2003 and executed in Jan 2004). They persuaded some investors (including Andre Agassi) to buy $155 million in long term bonds and put the rest of the money in themselves. They persuade the producer of Survivor to do a reality TV show about the casino and proceed to lift the table limits to attract big time gamblers. The gambit seems to be working as they attract some huge whales to downtown, when in September 2004 they finally attract a gambler who is willing to throw down $100K with each roll of the dice. He wins $8.5 million over a two week period wiping out their quarterly profit. They end up putting the table limits back up.

- The story has a happy ending for the duo as they sell out in 2005 for a profit of over $100 million.

Answer 5

I cannot speak for Africa or Canada except to say that I expect the cost to comparable to te cost of buying a casino in Las Vegas.  

I recently looked at a very small casino that was for sale for $1.8 million. After some expenses and operating capital, I would expect $2.5 million could take it over.  It had a snack bar, a bar, 45 slot machines and a karaoke stage.  

I am looking at a property now that is closed. It has a 48-room hotel and a grandfathered casino license. $11 million would include purchase price, renovations, start-up and operating costs.  

I can build a modest casino-hotel resort  in Las Vegas for $18-23 million.  

Of course, if you want to go really big, you can build or buy a major resort for $2 billion or more.  The sky's the limit.