This one is just easy. You just need to know the history of the band. The studio of the band burned down and they need to find another one, but cheaper, because they don't have a lot of money and it burned all their records and the 'master tape', so they had to record all their music again. Gambling house in the song means the studio, because music is a risk to take. And it's all easy to under stand. And this song rocks!