Underground Casino Receives Approval Of Atlanta City Council

While the move had been anticipated for a while now, the Atlanta City Council confirmed what everyone had been thinking. They will be supporting a casino hotel complex that is being proposed for Underground Atlanta.

Dan O'Leary is the man behind the proposal. He is planning a $500 million casino and hotel complex to help revive the struggling area. The money that would be generated would be used for the city and metro region and also would raise money for the HOPE Scholarship Program.

The approval of the City Council was expected but is only one of the first steps towards O'Leary realizing his goal. The Georgia Lottery Board must also approve the plan. The bigger plan may be a full scale casino, but right now the project is starting with video lottery terminals.

O'Leary and John Aderhold are the leaseholders on Underground Atlanta and they have received the support of Mayor Shirley Franklin. The project could end up in the end with table games, but to go after that now would require approval from the General Assembly.

The groups is weary about taking that step because of the General Assembly's history of turning down gambling outside of the lottery. The first phase of the project would bring 5,000 video lottery terminals to the casino.

Underground Atlanta has been struggling for a while now financially and it would take about $50 million to change its current state. The hotel part of the project would be where the major money would come in. It would take an estimated $450 million to be completed.

March 3, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
Submit News!

Station Casinos Buys Time With Forbearance Agreements
New Study Shows Impulsive Actions In Children Lead To Gambling
Sands Preparing To Change Casino Landscape In Pennsylvania
Problem Gambling Awareness Week Begins Across The US
Connecticut Casinos Could Go To Twenty Four Hour Bar Service