Horwath HTL Contributes to Study on the Impact of Potential Gaming in Atlanta, Georgia
Central Atlanta Progress and the Atlanta Downtown Improvement District (CAP/ADID) recently released a report revealing data on the potential impacts of proposed casino gaming in the state of Georgia. In order to provide a neutral viewpoint on the issue, CAP/ADID selected Horwath HTL, among other advisory firms, to consider the proposed legislation and provide an expert outlook on the introduction of the casino industry at both the State and local area. "In the past decade, Downtown Atlanta enjoyed more than $3.8 billion in investment," explains Paul Breslin, Managing Director of Horwath HTL in Atlanta. "It is important, if not crucial, for future hospitality ventures to capitalize on this momentum, and ensure the right mix of development that would facilitate, not hinder, continued growth in Downtown. CAP/ADID's final report concluded the following key takeaways:
- Casino gaming could indeed generate an additional source of state revenue, but has its drawbacks;
- Casino revenue is primarily generated from locals, not tourists;
- Substitution effects will likely exist, but are complex and difficult to fully predict;
- Local communities will incur costs. Therefore, funding mechanisms must be in place to mitigate any potential impacts;
- Social issues need to be mitigated for communities closest to a casino;
- Local communities must set and negotiate specific objectives before allowing a casino development.
Recently proposed legislation in Georgia would see the creation of two casinos in Georgia, one of which would require a minimum investment of $2.0 billion. At this early stage, much has been said about their implementation approach, the use of tax revenue generated, and their overall contribution to the local environment. "We hope this study will allow all of us to better understand the ultimate impacts, both positive and negative, of casino gaming in our City, and, ultimately, our State's economy. We are grateful to have had Horwath HTL as our hospitality experts for their contributions to our final report," comments Alena Green, Project Manager of Economic Development at CAP.
CLICK HERE to read the Casino Gaming in Georgia report in its entirety.
About Horwath HTL
Horwath HTL is the world"s largest hospitality consulting brand with 45 offices across the world providing expert local knowledge. Since 1915 we have been providing impartial, specialist advice to our clients and are recognized as the founders of the Uniform System of Accounts which subsequently has become the industry standard for hospitality accounting. We focus one hundred percent on hotels, tourism and leisure consulting and have successfully completed over 16,000 projects. If you have any questions, please contact James Chappell, Global Business Director at firstname.lastname@example.org