Casino company locks in $20M deal for Macon Mall site, but Georgia voters must approve gambling first
A casino company secured a $20 million option to buy a Macon Mall building, contingent on Georgia voters legalizing gambling.Summary
Gaming and Leisure Properties, a subsidiary of PENN Entertainment, has secured an option to purchase the former JCPenney building at Macon Mall for $20 million. However, this deal is dependent on Georgia voters approving a constitutional amendment to legalize gambling. The company has up to 10 years to exercise the option, with potential for a five-year extension. Macon Mayor Lester Miller believes a casino could provide much-needed revenue for the state, especially as lawmakers consider tax cuts. Currently, Senate Resolution 131 is under consideration, which would allow both sports betting and casino gambling, but it requires a two-thirds vote in the legislature and then statewide voter approval. The company plans to invest up to $2.5 million in demolishing the JCPenney building and improving the site. Local reactions are mixed, with some residents concerned about the social impact of gambling and others optimistic about the economic benefits.
(Source：Wmaz)