You would get a wage to run it but they would get all the profits.
You would have no recourse of course because the Justice System would also be owned by the gubment so there would be no one to whom you could go to complain.
What wouldja do? Roll over and take it? What COULD you do? After all the gubment has the muscle and power and a military force that would compel you to "play ball". Think it could not happen? Why?