Will a bank give a loan to set up a casino?

pitkin2020

Plain and simple until you have capital you won't get a loan from a bank. If you have a £1 they might lend you a £1, if you have 50k they might lend you 50k. Until you have the funds to back up your idea the banks won't be interested.

If you go to an investor stating you have no capital to put in then what are you offering them that they couldn't just do themselves!! Even if by some miracle one decided to lend you 100% you would be lucky to get a 10% stake

Horace

OP - it is great to have ideas but not all ideas are practical. I keep a notebook by me at all times (even in bed for that time I wake up with a blinding idea) and every time I get an idea I make a note of it in this book. I revisit the book from time to time to see if there is anything that needs investigating further, sometimes there is and sometimes not. It was out of one of these ideas that my second business was formed.

Although I love both my businesses with a passion, there are days when I wonder what I am doing and am having to find some alternative paid work to keep myself afloat because it is tough out there - even entrepreneurs have to turn their hand to something else to make money to support their passion:D.

Keep a note of those ideas, revisit them and in time revisit them again and see if you can make them work. Casinos are all wrapped up by the big boys and I do know how hard it is to get a casino started - where I used to live there was a pub which was brought by a casino firm who wanted to turn it into a casino but the pub is in a residential area and the residents quite rightly protested about it to the point that even the high court has ruled on the side of the residents. This shows that casinos cannot be set up any old where. As for the pub, well it is up for sale again.

davidjwest

Why wont the banks lend the money? After all, we lend them money to gamble with all the time.

Seriously though, have you any idea how much it would cost to set up a casino, I suspect it would be in the order of hundreds of thousands or more.