The Study Questioned The Opening Of A Casino In Georgia
According to the study, four georgia casino can generate hundreds of millions of dollars in the form of tax revenues, but at the same time gambling institutions can «devour» funds that their visitors could spend in concert halls, museums and t. D., what will reduce other state and local tax fees. About this writes albany herald.
The report reports that most visitors will be local residents and not tourists. It is also noted that the opening of the casino is unikely to make georgia more attractive to visit. Indition, casino can reduce georgia lottery income.
However, the casino market of georgia was estimated at $ 2.2–2.5 billion per year. It is estimated that residents of the region spend in the casino outside of more thank $ 570 million annually.
The study was initiated by the central atlanta progress business coalition in an attempt to provide independent data, as the legislators will decide the issue of opening a casino in the coming months.
At the legislative body, a 20% tax rate appeared income for the state of $ 320 million to $ 400 million per year.
Last year, the general assembly made a bill, changing the state constitution and allowing to open in georgia to six casinos. Mgm resorts international expressed a desire to build a gambling resort in the city center for $ 1 mm. After the draft law, amendment was amended to open up to four gambling resorts, but the case did not move, since the state governor nathan dilted that he wanted to introduce a higher tax rate than 12% of the profits indicated in the draft law. Paying such a tax, six casinos could generate more than 280 million per year and create at least 10900 jobs.