Before You Start
Like many other businesses, gambling is a specific one that requires a different type of regulations. As we all know that in some countries it can be restricted or even prohibited and if you are trying to run a gambling business you might be prosecuted for illegal activity. But in the countries, where it is legal, there are certain regulations that are established and they have to be strictly followed because their main idea is to impose control over this kind of business.
Gamblinghas always been a lucrative business even in times of recession and stagnation. And it can generate good incomes in a short period of time. Read the paragraphs below to learn about the most common steps and major procedures that have to be followed in order to open a casino and start a successful venture.
Be Aware of The Regulations in The Country
Each business has its legal aspects. Gambling is a very specific one that involves lots of money. And if you are about to run a legal gambling business, you should know that there might be lots of restrictions and certain requirements that have to be seriously taken into account. In general, if you are living in a country where gambling business operations are illegal, you might either give up from the idea or seek an opportunity to start a gaming business abroad. And if casinos are allowed to operate on the territory of your country, then you can most probably achieve your goals.
Check if Casino Operation is Legal in Your Country or Region
This is the very first thing that you have to know before starting any business procedures. Have in mind that there are countries where gambling is prohibited and prosecuted by law, while in other countries it is legal. But sometimes it depends on the certain region or state or region. For example, in the United States of America, gambling in certain states such as Nevada or California is allowed, while in others it is still illegal. Actually, there are around 24 states where you are allowed to open a land-based casino. Moreover, if gambling activities in certain territories are allowed as a whole, there might be some restrictions on the type of gambling business or its capacity. In this respect, it is very important to be aware of the little details in the local legislation otherwise you are risking your money and time.
Maybe you can not think of any casino that doesn’t serve beverages to its clients. But there are some limitations too. First, you have to check the legal age for alcohol in your territory. In some countries, you may not be allowed to sell alcohol to people under 18, while in others the limit is 21 years old. There might be some gambling limitations concerning the time-frame of selling beverages to clients. Sometimes you may not be allowed to offer drinks before or after a certain time of the day/evening.
Well, gambling is for adults, that’s for sure. We all know the 18+ red signs at the casinos or at the online gambling operators . Like the example with the alcohol above, the legal age at each country might be different and you should know that and in order not to promote gambling services to underaged people.
Laws For Self-Exclusion
There are sometimes laws that are concerning the temporary or permanent exclusion of some individuals. Each customer can put himself in such a list for self-prevention. It is up to you to follow these requirements and to comply with this law. This, on the other hand, will add additional trust in your clients.
This is a very important part of the beginning of the process. You should have a clear vision of what you need and how to do it before starting any business venture. Be sure that you have made the necessary calculations and predictions according to the current situation in the country or region where you want to start a casino. And you have to take many different aspects into consideration. You may also hire consultants that can give you legal advice.
You Need a Business Plan
After you have got informed with all the regulations and the requirement demanded by law concerning gambling activities in your region, you have to develop a good business plan before taking further actions. If you have the proper education you can develop this business plan by yourself, If not, you can use the services of a private company that offers this kind of service. There are many documents that have to be issued and many state institutions that have to be visited in order to apply your documents and to receive various licences and other legal documentation. Luckily, nowadays many of these things can be made online and you can fill the necessary applications and send them online, which can save you lots of time.
Find The Necessary Financing
Registration of Gambling Business
After the preparation of the business plan, you can start the registration procedure. There will be various documents that you have to get and many papers that you will have to fill. After you have met all the requirements by law and when all the necessary documentation is ready, you can register your business legally.
It is good that you want to open a casino, but you have to think about your marketing strategy too. You will need ideas on how to beat the competition and attract more customers to your casino. Make research and see which is the up-to-date casino software for slot machines and how you can have the most interesting games. You can think of providing free gifts to the customers or some discounts for the hotel rooms if you have any. One think of major importance is casino promotions. Be sure to promote a welcome bonus for those who come to play at the casino for the first time. Offer to customers other various daily, weekly or monthly promotions for a loyal customer. You can also make a VIP scheme allowing players to get interesting rewards while playing at your casino. Always emphasise on great winnings.
Building or Accommodating the Casino
After all the marketing strategies are done, comes the time for the building of the casino itself. This is another part of the process that is time and energy-consuming because you will be dealing with more documentations and issuing additional papers that allow you to build a construction or to reconstruct an already existing one.
Find a Proper Location
Finding a good location is very difficult. Sometimes it should be among the first things that you have to do in the process of opening a casino because if you don’t find a proper location there is a certain risk that your casino stays unfamous and not visited by many people on a daily basis. The advertisement also plays a big role in gaining popularity, but a good location can definitely guarantee you more frequent visits by gamblers. The place should be very communicative with easy access, near major boulevards and stations of public transport. If you can offer free parking space to your customers it would be a great advantage. It all depends on the place you have found.
Construct a Building or Rent One
Depending on the budget and the time that you have you may either decide to buy a space and construct a building or to use the already existing building but to reconstruct it for the needs of your casino. In either case, you will need more permits from the local authorities. What is more, you will have to hire a construction company to make the necessary building or to reconstruct the available space. You will have to meet different safety and security requirements and have to be sure that everything in the building can function properly. You will have to secure a necessary fireproof system, proper ventilation system, evacuation system in case of emergency, etc.
The equipment for your casino is the next very important thing if we are talking about customer satisfaction. The capacity of your place will determine the equipment that you need. It is up to you to decide what type of games will be offered in the casino – you may include only slot machines or rely mainly on poker, blackjack and roulette. The decision depends on your marketing strategy and business capacity.
Get Gaming License
When most of the things above are done, you can proceed to get a licence. Depending on the local regulations, most probably you will have to apply for a gaming licence in the respective institution, dealing with gambling regulations. There might be a commission that will have to have a look at your business plan, to observe the building that you have prepared and to verify the gambling equipment that you have purchased.
Make Property and Inventory Insurance
It is very important to make insurance to your property and inventory, otherwise, you are risking of losing more money if something bad happens. There might be an earthquake or fire can burst out suddenly for any reason. Another accident may happen and cause damage to your slot machines, and they are not cheap at all. But if you have insurance, the expenses might be covered entirely or partially, decreasing your losses.
Final Procedures And Opening Preparation
After you have passed the long and difficult procedures that we described above, it is time to make the final preparations before opening the casino. You are close to the final goal, but try to spend a little more time for the final touch.
Make sure to set aside some money for advertisement. It will promote your business and will attract your initial customers. You can pay for a tv commercial or to promote the casino on the internet. You are free to choose various communication channels that may help you make a good promotion of your business. Hiring a respected advertising agency will provide you with the proper and useful advertising for your services.
Final Check If Everything Is According to Requirements
Be sure that you are running the final meters safely and according to plan. Make a final check and be sure that you meet all the necessary requirements in order to avoid the additional unexpected and unfavourable situations. If something is not accomplished according to law and regulations, you risk of losing your license or may not be allowed to open the casino yet. Then there is a risk that you lose more time and money.
For the proper start of the casino, it will be best to make a grand opening party. It is the first direct advertisement and communication with your potential clients. You may invite celebrities and influential people. Make a little opening concert and even make an introductory speech. You may offer your first visitors free drinks and additional free chips.