State lawmakers exploring whether to expand gambling in Georgia met for the last time Thursday, but gave no clear indication about whether they would back efforts to legalize casinos and parimutuel betting on horse racing.
Instead, joint House and Senate committees looking into the issue may likely issue a fact-finding report for colleagues, essentially moving the debate to the Legislature come January without any firm recommendation of what to do.
A legislative proposal 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 calls for them to pay a tax rate of 12 percent.
However, casino operators has already indicated they may be willing to pay as much as 20 percent in state taxes in order to operate in Georgia. An expert who testified Thursday, College of Charleston economics professor Doug Walker, pegged the national average at around 25-30 percent.
One estimate suggests at least $280 million annually in new state tax revenue from casinos. Racing advocates claim at least an additional $21 million in new tax revenue could come annually from parimutuel betting at up to three racetracks and up to 15 “satellite” betting locations across the state, under a legislative proposal filed Thursday by state Sen. Brandon Beach, R-Alpharetta, who is heading the Senate’s study committee on the issue.
The gambling proposals also have their critics and face, at least for now, opposition from Gov. Nathan Deal. Deal has told The Atlanta Journal-Constitution that the tax rate on casinos would need to be anywhere from 24 percent to 35 percent of gross revenue before he would consider changing his mind.
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