SETTING UP A CASINO IN THE U.K.
With the increasing popularity for gambling, there are a staggering number of live casinos and online casinos available. People from all over the world can try their luck in becoming a millionaire. A few gamblers have taken the initiative to open their own gambling casinos. But opening one is not an easy task. A huge investment is involved. To run your own casino you should be having a gaming license which has been approved by your government. This license gives you the permission to run the casino and take wagers and bets from gamblers. There are many casinos which are not licensed and thus are always short termed since they may close down without any warning.
To provide gaming facilities in the UK you will require a license. There are three categories of license namely operating, personal and premises and your business will need all three kinds. The Gambling Commission issues the Operating and personal licenses while premises licenses are issued by your local authority.
There are two kinds of personal licenses:
a) Personal Management License – it is required by all individuals who occupy a specified management position.
b) Personal Functional License – it is required by those persons who work within a casino as a staff under whom comes the dealer, the cashier, the pit boss etc.
There are two types of fee payable for operating licenses – an application fee and an annual fee payable within 30 days of time from the day your license has been issued:
1. Application Fee for a new casino can be up to £40,000
2. Annual Fee for a new casino can be up to £102,000
There are two types of fee payable for personal licenses:
1. Personal Management License @ £330 and
2. Personal Functional License @ £165
You cannot start your gambling business until you have obtained all the required permissions.
