I dunno about MG, but I recently stumbled across a casino software I have never even heard of who are charging;
Basic Package: 98,999
Full Package: 158,999
I think I need a few more good Ladbrokes scratchcards before I can stretch to that!
I love the way the prices end "999" - as if choosing software is like selecting a tin of baked beans at Tesco; 'Hmmm.. shall I buy the 40p tin or the 39p tin...?"
You will surely need around 1 Mio$ to seriously think about operating a good running casino (starting costs for software, licenses, design etc. 1/2Mio + one year marketing expense 1/2mio).
Monthly operating costs are between 25K-50K if you operate a 24/7 support center in 2-3 languages. Outsourcing part of the business is becoming a very costly thing and the quality is not always what you would expect. We are actually moving into insourcing all aspect of our operation.
Also note that those figures are an absolute minimum to start operating on the well known top platforms (MG,BOSS,PLAYTECH,WAGER). You will also need additional reserves to cover the big player winnings that can hit you anytime.
Hope it gives you some valuable information about the cost of starting an online casino.