A bill that would legalize sportsbetting in the state of Georgia has been approved by the Economic Development Committee in the state Senate for a full debate and vote by the body.
The bill, which is formally called Senate Bill 57, would allow for both online and retail sportsbetting in the Peach State. It was introduced by Senator Billy Hickman, a Republican serving the 4th District. In addition to sportsbetting, the bill would also legalize horse racing, with three tracks permitted to be built. SB 57 would be unique in that it wouldn't require a change to the state's constitution, as Hickman would deem sportsbetting to be a lottery game, and would therefore be governed by the Georgia Lottery Corporation.
The bill would see taxes generated from adjusted gross income of operators at a rate of 20%. This money would go to the state's education fund.
In his bill, Senator Hickman said that he believes the industry could create 8,500 jobs, and create $1 billion in economic value for Georgia per year.
The bill will now go for debate and a vote in the Senate. If it passes there, it'll move to the House, where it'll undergo a similar treatment. If it passed both bodies, it will go to the desk of Governor Brian Kemp, who can sign it into law or veto it.
Casino Listings News is following the story and will update readers as we learn more.