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Gwinnett Gambling Complex Has Financing, Backers Say

The team behind the proposal says it has lined up financing for the complex in Norcross. Will this be the answer to the HOPE Scholarship problem?

Dan O'Leary, the developer behind the , and his partners said they've lined up financing for the project, according to the Atlanta Journal-Constitution.

O'Leary promises that the complex, which would be built near the OFS facility along Jimmy Carter Boulevard and I-85 South, would generate $350 million for the HOPE scholarship and bring in 2,500 permanent jobs, in addition to 1,000 construction jobs. 

From the AJC: “We think the project is right,” said Ed Sutor, who runs Dover Downs, a Delaware-based resort that is a model for O’Leary’s proposed complex and would run it under contract. “We’ve found the perfect location. We understand the financial trouble the HOPE scholarship problem is in.”

Sutor told the AJC that O’Leary and Dover Downs Gaming & Entertainment have commitments for financing from investment banks in New York and California.

The complex plans to target 40- to 60-year-old white collar clientele who have disposable incomes, Sutor said. He added that the resort would attract 5 million out-of-state visitors annually.

Do you think this is the answer to the HOPE scholarship woes?

bullfrog March 14, 2012 at 01:25 PM
Great idea! -- I like voluntary taxation far more than increased sales or property taxes. Moreover, if the developers can create a resort-type setting, this taxation would be far less regressive than something like scratch-off tickets and Cash 3.
Joseph Wade March 14, 2012 at 03:17 PM
It might help the HOPE Scholarship program -- but is it the right thing to do, the right way to approach the issue? For that matter, should the lottery have been approved and continued? I realize that HOPE has helped a lot of students, but much of it came from the pockets of the poor. On the first day that they lottery began in Georgia, the Rome News-Tribune ran a story on it and quoted from an interview. The reporter asked a purchaser of a lottery ticket what they would do with the money if they won. "Pay my gas bill" was the answer. That man's utility money went to the lottery instead. Personally, I don't think that lottery or gambling casinos (even if called "gambling complex") is a good idea. Ever.

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