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Where to Look for Illinois Video Gaming Terminal Operator?
Since the enactment of the Illinois Video Gaming Act in 2009, licensed establishments have been allowed to operate up to five video gaming terminals (VGTs) per location. The Illinois Gaming Board (IGB) oversees the licensing, regulation and tax collection of the Illinois video gaming terminal operator industry.
Not every municipality allows video gaming. On the Illinois Gaming Board website, you can find a breakdown of each municipality in the State and if they allow video gaming. Once you’ve selected your Terminal Operator, you’ll want to start applying for liquor licenses at the state and local level. The current annual fee to get and maintain the standard retail Illinois liquor license is $750. Fees vary at the municipal level, but typically fall in the range of $100-300. This is not a guarantee that will be the case in every city, so make sure to check with your municipality.
Around this time, you should also be looking into getting dram shop insurance that is, liquor liability coverage and U.S. Department of Justice registration for your VGTs. Again, some Illinois video gaming terminal operator can help you figure all of this out.
Apply for Illinois’ VGT licenses
You’ve picked a Terminal Operator. You’ve got a location. Your liquor licenses are approved. It’s time to get your Illinois Gaming Board and local video gaming licenses. Your terminal operator can help answer any questions you might have and can help walk you through the actual application. Part of the licensing process involves a background check and finger printing for you and other owners.
Finalize your gaming layout and decorations
At this point, your future business should be taking on tangible qualities. You’ve got a location, and contractors are doing all of the essential electrical, plumbing and other work to make it a functional space. However, you still have to determine where the VGTs, tables, chairs and various other equipment will go, as well as the overall appearance of your establishment. What color scheme will you use? What will your logo and signs look like? Where are the best spots for your video gambling machines? If you’re opening a bar or restaurant, will you have a dedicated video gaming space?
Open your business
The final step seems simple and straightforward, but it’s not as easy as opening your doors to customers. This phase should also include a marketing push, with promotions that include word-of-mouth, social media and perhaps even paid advertising. This entire process could take as little as six months if new owners are generally business savvy and have all their ducks in a row, and there are no unexpected obstacles along the way. It typically takes around a year to get a video gaming business up and running from scratch with a new Illinois video gaming terminal operator.