UPDATE: Major gaming companies are positioning themselves for a potential transformation in Georgia’s gambling landscape as lawmakers reconsider the state’s long-time ban on casino gambling. At a House study committee hearing earlier today, representatives from Wynn Resorts and Boyd Gaming expressed their readiness to invest billions in Georgia’s untapped casino market, contingent on constitutional changes approved by lawmakers and voters.
Christopher Gordon, head of development for Wynn Resorts, highlighted the massive potential for a destination casino resort in Georgia, drawing comparisons to the company’s flagship property, the $2.6 billion Encore Boston Harbor. Gordon emphasized that a similar venture could generate thousands of jobs and significantly boost state revenues. The Massachusetts casino has already contributed over $1 billion in gaming taxes since its opening in 2019, attracting millions of visitors annually.
Boyd Gaming, which reported over $1 billion in earnings last quarter, is also keen to enter the Georgia market. Spokesman Ryan Soultz indicated that if voters back the legalization of casino gambling, Georgia could become a lucrative addition to their portfolio.
This hearing marks the second session of a committee formed this year to explore both the economic benefits and social implications of expanding gambling options in the state. Discussions have centered on income, job creation, and regulatory frameworks. Industry experts have urged lawmakers to limit the number of casino licenses to maintain a healthy market balance.
Potential locations for new casinos include Midtown and Downtown Atlanta, areas near Hartsfield-Jackson International Airport, as well as Savannah and North Georgia, according to property adviser Rick Lackey.
Despite the enthusiasm from gaming giants, significant legal hurdles remain. Previous efforts to expand gambling in Georgia, including attempts in 2018 and earlier this year, failed to reach a vote. Representative Ron Stephens stated that the 2024 legislative session will prioritize sports betting, with a potential ballot measure for 2026 if it gains super-majority support in both houses.
Advocates for legalized gambling argue that regulating betting could help Georgia compete with neighboring states and secure new funding for vital programs like the HOPE Scholarship, which faces financial challenges in the coming years. Supporters point to North Carolina’s experience with legal sports betting as a model for potential revenue gains while minimizing unregulated offshore betting.
As discussions unfold, the future of casino gaming in Georgia remains uncertain. However, with major players like Wynn and Boyd ready to invest billions, pressure is mounting on state legislators to reconsider the current ban. This urgent situation could reshape Georgia’s economic landscape, creating new jobs and revenue streams for residents.
Stay tuned for further developments as this story evolves.