How to start a casino

Written by sara melone
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How to start a casino
A casino can be big business. (casino image by Valery Sibrikov from Fotolia.com)

Do you enjoy the action of casino gambling and the excitement of winning a poker hand or hitting 21 on Blackjack? If you love the financial risk in gambling, then opening your own casino might be right for you. Although your initial investment in opening a casino is significantly larger than putting a few dollars down on a bet, your return on investment can be large. You can open a traditional casino location for vacationers and game enthusiasts, or you can open an online casino that offers greater flexibility in gaming laws and regulations.

Skill level:
Moderate

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Things you need

  • Business license
  • Gaming license

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Instructions

  1. 1

    Work out a business plan for your casino. Estimate how many employees you need to hire and work out a budget for real estate, taxes, food and drink as well as all associated licenses and permits. Figure out how much start-up capital you need to start the casino.

    How to start a casino
    Talk with other casino owners to get ideas. (Casino image by Sergii Shalimov from Fotolia.com)
  2. 2

    Choose a location that patrons can access easily and that allows gaming. Familiarise yourself with your state's gaming limitations and laws then determine if you should start a casino in another state with more lenient regulations toward gaming.

    How to start a casino
    Be familiar with state gaming laws. (incorporations articles image by Keith Frith from Fotolia.com)
  3. 3

    Register your casino business. Form a limited liability company, commonly known as an LLC, or establish a corporation for your casino business. Running a business poses inherent risks when dealing with members of the public; you can protect yourself and your personal assets by incorporating your business.

    How to start a casino
    Incorporation is a valuable step for any business venture. (gambling image by marta from Fotolia.com)
  4. 4

    Apply for a gaming license. Federal and state laws require that you maintain a legal gaming license. To obtain a gaming license, you need to provide a complete application with all requested information including your name and business name, your business address, business telephone number, Social Security number and federal tax identification number. Each state may have its own restrictions and requirements.

    How to start a casino
    Each state has its own gaming license regulations. (dinero image by Dantok from Fotolia.com)
  5. 5

    Secure your financing and set up your casino. Set up a few gaming tables in a retail or commercial space with your own money or a small business loan. Seek investors if you want to start a large-scale casino. Traditional casinos with all the amenities can cost millions of dollars to establish before they ever start turning a profit.

    How to start a casino
    Financing a casino might require seeking investors. (Accounting and finance image by MAXFX from Fotolia.com)
  6. 6

    Obtain insurance policies and additional licenses as required. You need an insurance policy to protect the business location and any employees you hire. A liquor license will be required if you plan to serve or sell alcohol to patrons. If you plan to serve food, you may also be subject to inspections and permits issued by the Health Department.

    How to start a casino
    A liquor license may be required even if you serve free drinks. (liquor image by Renee Woodward from Fotolia.com)
  1. 1

    Research online casino options if you wish to establish an online casino for a smaller investment. Some companies create gaming software which you can purchase or license for your own Internet casino. An online casino eliminates the need to secure a casino location and deal with taxes, employees and food and beverages issues.

    How to start a casino
    Many people enjoy gambling online. (Gambling image by Aleksej Kostin from Fotolia.com)
  2. 2

    Establish a business identity and follow the same protocols for gaming licenses and state gambling restrictions. Online businesses are still required to have a tax ID and the required permits or licenses. An Internet casino is also subject to the same federal and state-specific gaming rules as physical a casino.

    How to start a casino
    Check your state's requirements for Internet gaming businesses. (business is business - cliché image by Jeffrey Zalesny from Fotolia.com)
  3. 3

    Purchase or license casino software. The investment in an online casino may be smaller than most physical casinos, but the figures could still range from £65,000 to as much as £650,000 depending on the software licensing agreement.

    How to start a casino
    Internet gaming requires substantial funds to set up. (cash image by Alexey Klementiev from Fotolia.com)

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