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Underground casino plan ups the ante
Wednesday, January 14, 2009 at 1:06:08 PM
Underground Atlanta is ready to roll the dice.
The operator of the downtown attraction said he has brought a proposal to the Georgia Lottery Board for a casino that would fund the HOPE scholarship and bring millions in tax dollars to the city.
While the idea of a downtown casino has been kicked around for years, this is the first concrete plan brought forward by a developer and presented to the institution that can make it a reality.
In an interview with The Atlanta Journal-Constitution on Tuesday, developer Dan O'Leary, who holds a 50-year lease on Underground Atlanta with partner John Aderhold, outlined a $450 million proposal that would completely gut and redevelop Underground, adding upscale restaurants and retailers, a new 29-story hotel and 5,000 video lottery terminals.
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