This is a good idea, but not if everyone expects it to generate money very quickly.
I agree, google doesn’t like an explosion of links – I have notice that just a few highly targeted relevent links outperform 100s or 1000s of unrelated links.
My suggestion would be to manage the links pointing at the site for a while – start with the highest PR, oldest casino domain pointing to the site first, then gradually add the next highest PR and next oldest casino domain. This will build the all important ‘trust rank and authority’ needed to be on the first page of the search engines.
I agree with the other post, this isn’t going to be an overnight success – but I can certainly see it appearing high in search engine within a year! if we can get a casino related domain from around 1997 – 1999 it will start to appear in SERPS faster – old domains rock in google.