Opening a new cardroom?

[Skadet]

(If you can think of a more appropriate place to post this, let me know)

Hey all,

I live in a college town with a booming poker culture. It is usual to see NLHE games going in the dorms on any given day, and the kids are playing for real money (as much as you'd see at a .50/1 NLHE game at a B&M).

Many of the 21+ crowd frequent both the "local" indian casino and cardroom (45 minutes and 20 minutes away, respectively).

My good friend and I are thinking seriously about trying to open a card room in town. We believe both the College population and the local residents would frequent it. The city has codes which allow a cardroom with a maximum of 5 tables.

Has anyone here done this? How likely is it to get approval from the city? How difficult is it to secure venture capital or government funding? My friend and I have been doing a lot of research and are looking for opinions/advice from someone who's "been there".

Thanks in advance

[Siegmund]

The advice is going to vary a lot depending exactly where you're planning to do this. IF you can jump through all the legal hoops, most medium-sized towns have enough business to support a room - but getting it off the ground can be hard.

A friend of mine (who currently runs a small underground room) and I have looked into doing the same in our area where it looks like cardrooms will be legalized next year. So far our impression has been that it won't be all that hard to get enough backing to apply for the license and put up a building, but the required cash bond is big enough to be a stumbling block for us.

[other1]

Required cash bond for what? /images/graemlins/confused.gif

[Spaded]

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Required cash bond for what? /images/graemlins/confused.gif

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"Campaign contributions" /images/graemlins/grin.gif