In response to state laws prohibiting gambling, cruise boats found a way
to generate revenue by operating casinos on board. Using international
waters, cruise boat operators can circumvent state limitations. To open
and operate a small riverboat casino business, you'll need to make sure
that you comply with your state's gambling laws in addition to any
federal gambling regulations. Each state is largely responsible for
regulating gambling within its boundaries, but the federal government
has a limited right to regulate gambling on Native American territories
and some forms of interstate gambling through Congress and the federal
Commerce Clause. Your state's gaming laws apply to small and large business owners.
Step 1
Do marketing research. Use surveys and research census data to determine how many people in the area you plan to service will typically gamble on a riverboat. Determine how many casinos, on riverboats or otherwise, are in your marketing area, what types of games they offer, and what the most popular games are.Step 2
Create a business plan. Use your marketing research to decide what type and size boat you want and determine how you will finance it. Determine what types of games you will offer and how you will staff them. Determine what wages you will pay the staff. If you need a bank loan, you will need to present the loan officer a professional-looking business plan.Step 3
Contact
the regulatory agency responsible for enforcing your state's gaming
laws. Your state may strictly prohibit all types of gambling, limit the
types of gambling and games that casinos can offer or allow Indian
tribes to operate casinos. If your state does not allow gambling, you
will need to find a state that does.Step 4
Hire personnel for your riverboat. You will need to hire a riverboat operator or captain, casino dealers and hospitality crew members. If you plan on serving food, you'll need to hire kitchen and wait staff. You may also consider hiring security guards and a pit boss or person in charge of overseeing gambling operations.Step 5
Purchase a riverboat. You'll need to make sure your boat is safe, meets local and federal regulations and can accommodate many passengers.Step 6
Apply for permits and licenses. You will need to apply for permits and licenses to operate a commercial vessel, according to your state's laws. You will also need to purchase liability insurance to insure your property and business equipment. You will also need to purchase general liability insurance to protect your employees and patrons against injuries.Step 7
Decide upon which type of business entity you will use to operate your riverboat casino. You will need to contact an accountant and business law attorney to help you understand the legal liability consequences and tax implications of each.
Step 8
Contact the Internal Revenue Service and your state's tax agency. You will need to apply for an Employer Identification Number from the IRS and may need a separate state employer identification number.Tip
- The American Gaming Association provides helpful information for gaming entrepreneurs. The association also provides links to state gaming agencies. Because riverboat casinos do not operate on international waters, they are subject to different regulations than international casino cruise boats. If you operate your riverboat casino in more than one state, you will need to make sure you comply with multiple states' gaming laws.
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