We assume you're referring to the process of initially obtaining a non-restricted gaming license (i.e., one that enables your property to offer the full panoply of games, and in whatever quantity you see fit), to which the answer is something akin to "how long is a piece of string?" That's because the costly part of the licensing process is the kind of deep-probing background check that you might expect to be subjected to if you were running for president (or abducted by aliens), only probably more thorough and grueling.
The procedure stems from a backlash against the old Mob Days and a need to present a new clean face of Las Vegas, untainted by illegal activity and unsavory characters, and so for several decades the Gaming Control Board and Gaming Commission have insisted upon scrutinizing the history of anyone seeking the privilege of running a casino here, including looking into your tax record, any previous business activities, and your personal life and character. No stone is left unturned, including dispatching investigative agents to whatever previous locations you may have operated in. Hence, if you're some international jet-setter, or just happen to have lived in different countries, the bill can get pretty steep -- as in, into the millions -- and it's the prospective licensee who foots the bill for it all, regardless of whether a license is eventually granted, or not. It might take years before you have an answer either way, too.
It doesn't matter who you are -- Frank Sinatra wasn't "too big" to have his Nevada gaming license rescinded, nor did a strong desire to see a rejuvenation of the northern end of the Strip prevent Sam Nazarian from having his knuckles publicly rapped last year, following revelations that he'd used cocaine and had prior association with some distinctly shady characters, including rap producer Suge Knight, who's seldom out of the headlines for all the wrong reasons and is currently awaiting sentencing on a murder charge. Only two out three Gaming Control Board members voted to approve Nazarian's application last December and, even then, granted a one-year limited license only, with stipulations that included the nightlife entrepreneur submitting to random drug testing and being excluded from any involvement whatsoever in casino operations at SLS. (He also attended rehab, which we believe was voluntary.)
In a timely development, earlier this week Northern California businessman Vincent Michael Malfitano, who had purchased two casinos in Virginia City, found his casino-license application denied when the GCB declared him unfit either to hold a license or be the landlord of the Delta and Bonanza Saloons, which will almost certainly necessitate the closure and sale of both properties. The former dentist was questioned over a prior citation for obstruction of a police officer, not to mention several prior lawsuits against him, and some tax liens. Gaming agents also apparently took issue with his handling of an employee’s labor complaint. The Nevada Gaming Commission will consider the GCB's recommendation in two weeks time, but their denial of his license application is almost a foregone conclusion at this juncture.
Should you happen to make it through the licensing process successfully, as Jonathan Jossel did last April, finally enabling a representative of Tamares Group to take over gaming operations at downtown's Plaza and Las Vegas Club, there are a raft of ongoing fees to be paid. For table games and others that aren't slots, that ranges from $100/year for just one, up to $20,300 for 36 or more, plus $25 for each game over 35. For slot machines, there's an annual tax of of $250 per machine. Even un-redeemed TITO tickets carry a cost for the casino, which is obliged to remit 75% of the value of all un-cashed winning vouchers on a quarterly basis.
In other words, and as numerous casino bankruptcies in recent years have proved, getting your hands on an unrestricted gaming license is far from being a license to print money -- as Steve Wynn might say, as per yesterday's QoD, "Just ask Donald Trump!"
