The 50-year-old singer is reportedly planning to launch the zombie-themed gambling den in Las Vegas next year.
He is also believed to be working on a new album, several films and a museum to house iconic items from his career.
Jackson is even hoping to launch a three-year world tour after his 50-date residency at London's O2 arena concludes in March 2010.
Sources close to the pop superstar claim he is interested in any business endeavour that can help revive his flagging fortune.
Jackson is allegedly over £100 million in debt. He has been sued by dozens of former associates and was even forced to sell his beloved Neverland Ranch last year.
The star is expected to make nearly £100 million from his 'This Is It' London residency, which is due to start next month, but fans fear he will not be fit enough to perform.
Jackson has already postponed the first four concerts and is facing the prospect of delaying more, as he allegedly battles skin cancer.
The singer reportedly had surgery to remove potentially fatal growths from his nose and arm last month, and may have to undergo intense radiotherapy treatment which would leave him unable to perform live.
A source close to Jackson said: "Michael has a tough decision to make. The temptation is to go for treatment which will allow him to perform. The last thing he wants to do is let his fans down. But it may be that radiation is still needed. That can have nasty side effects and leave him unable to sing."
Although the 50-year-old star's spokesman insists he is in great health, doctors are apparently worried about a patch of cancerous skin on his chest.
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