MGM Looking at Jacksonville for Possible Casino Location

MGM Resorts International owners of such world famous, iconic gambling and vacation properties as the Bellagio, Mandalay Bay and Mirage in Las Vegas, was recently in Jacksonville scouting properties for a possible hotel casino. Legislation currently underway in the Florida Senate would allow the building of limited gambling resorts potentially hiring hundreds of residents and injecting billions into the local economy.

The bill would allow the creation of a gaming commission similar to Nevada’s, which would be given the task of regulating the new casinos.

It should be noted that the legislation is very much in its early days and may not even get passed. Still, representatives from MGM were in town in anticipation of it passing. It should also be noted that many local entities, including the Walt Disney Company and the Florida Retail Federation have voiced strong opposition to the idea of the resort being built, arguing that it would be a detriment rather than a benefit to the Jacksonville economy. The Retail Federation believes that while the casino would provide short-term benefits in the form of jobs, it would harm Jacksonville businesses in the long run. MGM Resorts is also scouting a number of other locations throughout Florida, focusing in the south. Other potential hindrances to the resort being built include the fact that the Florida legislature wants the investment to be in the region of $2 billion, whereas MGM is thinking more along the lines of a $500 million investment in Jacksonville. A gap that sizable may be difficult to overcome.