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Underground Atlanta has been struggling for some time now and developers of the entertainment center downtown believe they have the answer to turn things around. The developers are teaming with a Delaware based company to try and bring casino gambling to Georgia.
“We have been going around and meeting with the usual suspects of business, civic, and community leaders and we believe there’s a ground swell of support for this concept,” said Dan O’Leary, one of the leaseholders for Underground.
Dover Downs Gaming and Entertainment Inc. is the Delaware company who has joined the fight. They believe they can change the whole landscape of Underground Atlanta with the new form of gambling.
The gambling would take place using video lottery terminals, but the grand plan is on a much bigger scale. The group has already shown the Georgia Lottery Board their proposal which also includes a hotel and entertainment complex.
The projected revenue increase for the state could be something the Gaming Board will be interested in. They believe that the casino could bring in millions of dollars a year in tax revenue.
The HOPE Scholarship could also be a beneficiary of the casino. The hospitality industry is big in Atlanta and something of this size could boost the economy and the hospitality industry by millions.
AMZ Stock Soars After Taiwan Government Approves Gambling
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When a government makes a change to a gambling law, there are usually waves of change that occur because of the decision. That was the case Wednesday when the Taiwan government approved a Bill that repeals a law against casino gambling in the country.
AMZ is anticipating bringing a casino resort to Penghu and with today’s announcement their stock skyrocketed on the London Alternative Investment Market. Their stock price rose by forty six percent, to ninety one pence.
It has been a long time coming for Taiwan to repeal their gambling law. “The first draft of this Bill was made in 1994, and it took so long because there’s so much debate and so many competing voices. Because Taiwan’s economy is now falling, the belief is that probably these resort projects can help spur the economy,” said Justin Chou, a member of the ruling Kuomintang, in a telephone interview with Tim Culpan from Bloomberg.
Today’s action was particularly damaging to Macau. The casinos in Macau have already began to struggle financially, and now Taiwan joins Singapore to create much competition for casinos of Macau.
As for AMZ, they plan on being involved heavily in the bid to gain a gaming license from Taiwan. The regulations have not yet been put in place for the licenses, but once they are complete the proposals will begin being accepted. Taiwan’s economy is the reason that the gambling laws have been changed. The tourism money that used to flow freely has diminished in recent years and the government is hoping that casinos will bring some of that tourism back.