Within states, commercial casino operation may also be governed or disallowed by state and local regulations or zoning requirements. Check with your local Small Business Administration or City Council to learn more. Some of these states may only allow certain types of gambling in casinos, such as betting on races. Be sure to check all regulations before continuing with your casino planning. [1] X Research source
For example, many states require that casinos stop allowing visibly intoxicated persons from participating in gambling. Others require that casino employees take specialized courses that involve training for dealing with intoxicated individuals. [3] X Research source
This means that even very small casinos must have about $20 million on hand at any given time. [6] X Research source
The American Gaming Association has provided a useful guide to your state’s regulations. This guide can be found here. If in doubt about any of the wording or meaning of any regulation, consult with a lawyer in your area.
Make sure to include a feasibility study that examines the demand for a casino and the justification of investment. Employ an architect to design your casino to meet all your needs and comply with local safety regulations. Include a scale model of the casino to show the layout and the style. See how to write a business plan for more information.
Starting a casino will always be expensive, regardless of how you set yours up. As previously mentioned, cash-on-hand requirements alone will often be more than $20 million. You will also need to buy equipment, land, build your casino, and purchase a gambling license, all of which can be very expensive.
You can apply for an EIN with the IRS by going to https://www. irs. gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-(EIN)-Online
Provide free stuff. Casinos often provide free gifts, drinks, and rooms (if they are also hotels) to patrons to make them feel like they have more money to spend on gambling. Generally, their losses make up for these expenses. Disguise the time of day. Casinos often don’t have any clocks or windows so that customers spend more time gambling than they mean to. Emphasize wins and hide losses. Casinos disallow photo and video equipment on their game floors to hide the reality of losses and set off sirens and lights to emphasize wins. This encourages customers to think that they can win. [8] X Research source
Learn more about zoning laws on the SBA’s website.
See more about health and safety requirements by visiting the SBA’s website.
Because casinos frequently go out of business, you will likely be able to find this equipment at a discount from a bankrupt casino. [9] X Research source
