What's it take to open a casino/hotel.?

Question

Anyone know how much it would be to open a casino/hotel. How much money you would expect to have to spend. And what you would have to go threw to get a gambling license and everything like that.

Thank you for any information you can give.

Answer 1

Millions..  many many millions... likely in the hundreds of millions.  

Land

construction

employees

training

permits

lics.

the list goes on and on.  suffice to say more money than you will ever have in several lifetimes.

Answer 2

Business savvy

Gambling savvy

Lots of capital

Lawyers, accountants, etc

Gambling license

Land

Answer 3

It depends how ambitious you are and where you live. Here in Vegas, you can put slot machines and video poker just about anywhere, including gas stations, grocery stores, bars, etc. This would lend me to believe that gaming licenses to run slots and video poker (regulations are different for table games) are relatively cheap.

A bar with video poker would not be THAT expensive. I've actually seen a fairly decent place for sale, and they wanted about $800,000. If that's out of your range, you shouldn't even be asking this question.

A stand alone casino with table games is a different animal. You have to install and run security cameras, hire many more employees, and abide by more strict gaming laws. I'd imagine you could open a small place for maybe $5 million, but not much less. Of course, if you wanted to build a hotel along with it, you'd have to at least double that number.

If you're talking big-time, Las Vegas Strip mega-resort, add some more zeros. The Bellagio cost about $1.5 billion, and you couldn't build it today for that much. The new places under construction right now are all more along the lines of $4-8 billion.