Georgia is known to have some of the strictest laws on gambling in the US. While sports betting and casino gambling expansions in the state have failed before, reportedly major industry players have formed a coalition to make yet another push. If the state expands gambling and legalizes sports wagering, undoubtedly, fresh taxes will boost the state’s coffers.
Casino Gambling, Sports Betting Efforts in Georgia Fail
After the challenges brought to the gambling and hospitality industries last year due to the COVID-19 pandemic, since the beginning of the year, both industries have started to recover. Legalized in more than 20 US states, sports betting continues to gain popularity and mark record revenues.
Last month, the American Gaming Association (AGA) revealed that the US commercial casino industry is coming back to business with full force, marking a 25% year-on-year revenue increase in April. Continuing the positive trend, Casinos in Nevada have set record revenues in May, with business and traveling volumes increasing.
Undoubtedly, the gambling and hospitality industry contributes with tax proceeds and helps the states recover faster from the hit brought by the pandemic. However, this may not be the case for Georgia, where sports betting as well as casino gambling is yet to be legalized.
Despite the multiple attempts lawmakers have made in Georgia, casino gambling remains elusive. Furthermore, currently, the state laws on gambling are among the strictest laws across the US. Besides casino gambling, sports gambling in Georgia has similar faith after several efforts by lawmakers have failed.
Coalition by Major Industry Players Gives New Hope For Gambling Expansion
Although the current gambling laws in Georgia are strict, this may change as soon as 2022. Besides lawmakers, major gambling industry operators and casinos have created a coalition, aiming at expanding the gambling activities in the state, according to Atlanta Business Chronicle.
The newly formed group reportedly includes industry leaders such as Caesars Entertainment, Wynn Resorts, Bally’s Corp, as well as Hard Rock Inc. Furthermore, the coalition was also joined by Penn National Gaming, as well as Foxwoods Resort Casino. Gaming and Leisure Properties Inc., a real estate investment trust that specializes in casino properties, is also a part of the newly formed group.
Overall, the coalition has 16 members and its goal is to make yet another push for the legalization of gambling in Georgia via lobbying. Currently, multiple sites may be used for building a massive gambling venue in the state. With that in mind, if Georgia expands its gambling market, undoubtedly, the state’s coffers may receive a significant boost with fresh tax revenue from the activity.