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Opening a Private members Club(casino)

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  • 29-05-2012 4:02pm
    #1
    Neway
    Closed Accounts Posts: 2 ✭


    Hi guys i intend to open a private members club(casino) in the near future I am currently in the process of building a business plan.
    I have done a lot of research in the area but would appreciate any advice or for anybody in the industry to get in contact.

    Thanks for reading guys!!!


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    #2
    antoinolachtnai
    Registered Users Posts: 9,798 ✭✭✭antoinolachtnai


    I know the general business pretty well. You need a lot of people and a lot of play to make it work. It is really a volume business. The margins are pretty low for machine play, and close to non-existent for baize table games when you take into account the cost of good staff. Make sure to account fully for VAT (and other taxes) in your planning. Take into account that you need to pay a relatively good rent to get a good location which has the planning permission you need.


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    #3
    arbitrage
    Registered Users Posts: 150 ✭✭arbitrage


    If the reports are to be believed (cash business) the casinos in Dublin (saturated market) are making a loss.

    Where are you looking to set up?


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    #4
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    Get a manager. A really, really, really good manager. And ensure he's totally involved in the Hiring of staff. This is a cash business with no stock to check to ensure your profits aren't being eroded by light fingered staff. An experienced and honest manager will be worth his weight in gold. As was stated earlier margins are tight, so any theft is going to affect the business immediately.

    New casinos are always frequented by the sharks who know the odds and take advantage of inexperienced dealers and pit bosses. It is vital that your people know the business and know what to look for. Slight of hand at the tables, card counters etc. will kill your business very quickly.

    It's a complicated business that, if not run well, will result in the owners, as opposed to the punters, losing their shirts.


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