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If you're thinking that opening a brand new casino is expensive, you're right. In fact, just looking to get a license is usually 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 potential 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 far-off as Macau, so that you can imagine the associated 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 predicted to be about $10 million. Wow.
I do not believe Nevada ever charged Binion's to research whether or not they can 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 various thousand dollars to get licensed for casino promotions. Thank goodness the powers that be are actually so diligent in ensuring we will be able to gamble away our greenbacks safely!
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Read More... [Source: About.com Casino Gambling]
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