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If you're thinking that opening a brand new casino is expensive, you're right. In fact, just seeking to get a license generally is a million dollar proposition, and also you might get turned down. I remember years ago in Reno when a pair fellows tried to get licensed for a casino called "Players" on Virginia Street. After six-months the Gaming Control Board hadn't given a "yes" and the bill was over $500,000 for the investigation. The possible licensees eventually gave up, but not until paying the GCB and the price of interior and exterior work at the building that was over $1 million.
According to Mark Arsenault on the Boston Globe, Massachusetts State gambling investigators are traveling everywhere in the globe investigating possible licensees, a few of that have casinos as distant as Macau, so that you can imagine the fee. So far, MGM Resorts have been whacked with a bill for over $1.2 million and all of the process for all investigations of all possible licensees is anticipated to be about $10 million. Wow.
I don't believe Nevada ever charged Binion's to analyze whether or not they will have a poker tournament that grew into the WSOP, and I'd also bet that the corporate that first prepare blackjack tournaments for the Sahara casinos in Las Vegas, Reno, and Lake Tahoe never paid quite a lot of thousand dollars to get licensed for casino promotions. Thank goodness the powers that be are actually so diligent in ensuring we will gamble away our dollars safely!
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Read More... [Source: About.com Casino Gambling]
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