PENN Entertainment is positioning itself for a potential expansion into Georgia, striking a $20 million agreement tied to a former department store property in Macon that could one day house a casino.
Through its real estate arm, Gaming and Leisure Properties (GLP), PENN secured an option deal with the Macon-Bibb County Urban Development Authority for a vacant JCPenney building at a local mall. The agreement gives GLP up to 10 years to complete the purchase — but only if Georgia voters approve a constitutional amendment legalizing casino gaming.
A Long-Term Bet on Legalization
Under the terms of the deal, GLP has five years to exercise its purchase option. The company may then extend the agreement for an additional five years for $500,000.
As part of the arrangement, GLP will invest $2.5 million to demolish the existing structure and make improvements to the site — a sign that PENN is serious about preparing the location for future development.
Macon-Bibb County Mayor Lester Miller has long expressed interest in revitalizing the property, noting that a hotel has been envisioned for the site. However, he acknowledged that any casino plan ultimately depends on action at the state level.
Georgia Lawmakers Revisit Casino Debate
Casino legalization efforts in Georgia have repeatedly stalled amid political resistance. Previous proposals have failed to gain traction, despite gaming companies meeting with lawmakers in 2023 to explore the issue.
Now, momentum may be building again.
Senate Resolution 131, introduced earlier this month, proposes a constitutional amendment that would authorize and regulate sports betting and casino gambling in the state. Because Georgia’s constitution currently prohibits casino gaming, voter approval would be required.
Supporters argue that legalization could provide a fresh revenue stream as lawmakers consider eliminating the state income tax and reducing property taxes.
Regional Pressure Mounts
Georgia remains one of the few Southeastern states without legalized casino gaming or statewide sports betting. Meanwhile, neighboring Tennessee, Florida, Alabama, and North Carolina have moved forward with some form of expanded gaming.
Mayor Miller believes Georgia may eventually follow suit.
“There are so many states across the United States that are legalizing casinos because basically we already have them in our communities anyway through sports betting and through machines in the stores,” he said.
A Calculated Risk
For PENN, the Macon property represents a calculated long-term wager. By securing development rights now, the company would be well positioned to move quickly if voters approve casino gaming.
If legalization stalls again, the option structure limits PENN’s immediate exposure while preserving future flexibility.
In the meantime, the deal signals that major gaming operators are watching Georgia closely — and preparing for the possibility that the Peach State could finally open its doors to casinos.
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