Opening a casino is a daunting task. There are reasons they are operated by large hotel and resort chains. Even a small venture can quickly break the bank, and as a high-risk investment, it can be hard to get loans from financial institutions for funding. However, if you are considering opening a casino, we can help break down the costs for you.
Size and Location
The location of the casino and its size will be one of the major set-up and operation costs. Rent and property prices in Canada are not cheap.
Many casinos now operate online so they do not have these overheads. BonusFinder Quebec lists the best ones, many of which provide attractive bonuses and a wide range of games. They can offer these benefits, as they do not have these additional costs. Though online casinos will not be cheap to set up either, it may be something to consider if you have a background in tech.
If you do decide to open a physical location, then you need to do research. A good location will have easy access and consistent footfall, but legalities will prevent you from opening anywhere you want.
The size of the plot or building will also play a part. Get a large building, and you need to have the budget to fill it, which costs more. Open too small, and you may not get the profit you need.
Fittings and Fixtures
The most obvious fittings and fixtures that define a casino are slot machines and games. You can expect to pay around $20,000 for one of these, possibly more if they are by a major developer like Konami. You will need at least ten of them in even the smallest casinos. While they will bring in more profit, repairs and maintenance should also factor into your budget.
After this, you need professional tables to play games at, along with the furniture to accompany them. A very loose budget should account for $10,000 for each table, be it craps or roulette with a built-in wheel. Around these, you will need stools and chairs of the correct height.
Once you have these items, other fittings are for added extras. You will need a bar in the casino, and that brings with it the associated costs. If you open a restaurant, this goes even further. However, you should always weigh up the costs as the more invested, the more revenue you will bring in.
After this, most of the costs of opening will relate to the paperwork, legalities, and legislation. You will have to employ a lawyer to set up your company, as you would with any business. After this, you will need to apply for the necessary permits to operate in the local authority. As you can see, opening a casino in Canada needs a lot of financial backing and planning. It is not as easy as opening a small business and has a lot of overhead. If you want to open a casino, you may wish to get valuable work experience in the industry first, working your way up to casino management and then getting backing from contacts you have made.
The Cost of Opening a Casino in Canada