A New Era of Gambling on the Horizon: South Carolina Considers Land-Based Casinos

In a historic move for the Palmetto State, South Carolina lawmakers recently unveiled legislation aimed at introducing land-based casinos. This initiative has sparked interest and debate across the state, particularly as gambling has been largely nonexistent due to restrictive laws prohibiting brick-and-mortar and online casinos, as well as sports betting.

The I-95 Economic and Education Stimulus Act

The proposed legislation, known as the I-95 Economic and Education Stimulus Act, seeks to establish a state gaming commission that would be responsible for awarding casino licenses. The focus is primarily on economically disadvantaged regions, particularly in the counties along the I-95 corridor. This bipartisan approach highlights a growing recognition of the potential economic benefits that land-based casinos could bring to these impoverished areas.

The bill, currently introduced to the House Ways and Means Committee, proposes a tax rate of 15% on the adjusted gross gaming revenue generated by the casinos. This revenue could provide a much-needed financial boost for local governments, enhancing public services and infrastructure.

A Glimmer of Hope for Santee

One of the most promising prospects for a casino is in the city of Santee, a small town with around 1,000 residents situated in Orangeburg County. Historically considered an underdeveloped area, Santee represents a prime candidate for economic revitalization. Local developers see a casino as a viable means to attract tourists from both South Carolina and neighboring Georgia.

Wallace Cheves, a businessman from Greenville, has proposed an ambitious $1 billion casino resort project in this region. He asserts that the entire venture will be funded by private investors, eliminating any financial burden on taxpayers. “We strongly believe that this investment should be driven by private enterprise, not taxpayer dollars, ensuring no financial risk to the public sector,” Cheves stated confidently.

Economic Benefits and Job Creation

Advocates of the casino project are enthusiastic about its potential economic impact. Cheves claims that the resort could create "thousands of good-paying jobs," stimulating tourism and expanding business opportunities for local communities. He is not alone in his support; multiple local officials have expressed optimism about the positive effects a casino could bring to the area.

Orangeburg County Administrator Harold Young emphasized, “I-95 is one of the places … considered in the poverty belt for some counties, and so any economic development would be looked at favorably because of the fact that it would boost tourism and infrastructure as well as housing in that area.” Such sentiments underscore the urgent need for innovative solutions to address the chronic economic challenges facing rural South Carolina.

Transforming Old Spaces into New Opportunities

The Santee Development Corporation, which owns an abandoned local mall, is considering a transformation of the property into a casino that would not only house gaming facilities but also include a hotel, spa, restaurant, and various entertainment amenities. This redevelopment could create more than 4,600 new jobs, while potentially generating around $58 million in annual tax revenue for the state.

In a statement, the Santee Development Corporation urged the community to reconsider traditional viewpoints toward economic development, saying, “It’s time to stop kicking the same can down the road and take a new approach – to think differently and with an open mind. There’s a tangible, transformative and life-changing opportunity for one such area, Orangeburg County, and along the I-95 corridor staring us in the face, without one dime of taxpayer risk.”

The Bigger Picture

While the introduction of land-based casinos is generating excitement in South Carolina, it is important to note that this is part of a broader trend across the United States. Many states are reassessing their gambling laws to leverage potential revenues for public projects and economic development. Additionally, lawmakers in South Carolina have been contemplating the legalization of sports betting, though that effort has yet to gain significant traction.

The discussion surrounding land-based casinos is not merely about gambling; it encompasses the potential for significant economic revitalization, community development, and job creation in regions that have long struggled with poverty.

Conclusion

The proposed legislation to bring land-based casinos to South Carolina presents a pivotal opportunity for economic change. With the potential to transform underdeveloped regions into thriving tourist destinations, it stands not just as a new form of entertainment but as a beacon of hope for economic development in the Palmetto State. As lawmakers proceed, many will be watching closely, eager to see whether this initiative can be a catalyst for lasting change.