Jul 25, 2014

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?

Gwinnett Gambling Complex Has Financing, Backers Say

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?

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