Atlanta boosters to study impact of $1 billion casino
The possibility of a $1 billion casino in downtown Atlanta has prompted an influential city booster group to pursue a study on the impact it could have on local businesses.
Central Atlanta Progress has told potential consultants to apply by Dec. 10 for the project, which it hopes to complete before March 15.
According to a draft proposal from the group obtained by The Atlanta Journal-Constitution, the effort “is intended to educate the business community and policy makers and inform policy decision as to what it would take to realize such a gaming attraction and what the ultimate impacts, both positive and negative might be.”
State lawmakers are already exploring whether to expand gambling in Georgia, with legislative study committees due to issue recommendations next month.
A bill now on the table calls for up to six "destination" casino resort licenses that would be allowed across five geographic zones in Georgia: Atlanta, Columbus, Macon, Savannah and South Georgia.
The proposal sets aside two licenses for a broadly defined metro Atlanta zone, although one would be more limited than the other. The minimum private investment required to win a license: $1 billion for the primary Atlanta license and $200 million for each of the others.
MGM Resorts International CEO and President Jim Murren testified earlier this year that the city could “easily” support a proposed $1 billion investment by the company.
Standing in the way, at least for now, is Gov. Nathan Deal. The governor has left open the possibility he could change his mind, but only if the industry agreed to a significantly higher tax rate than the 12 percent currently proposed. Deal told the AJC last month that he thought that rate would need to be anywhere from 24 percent to 35 percent of gross revenue.
