A proposal to create a “Georgian Las Vegas” in Tskaltubo by banning casinos elsewhere in the country was discussed under Georgia’s previous government, according to Tsotne Japaridze, founder of Traffic Travel Georgia.
Speaking on BMGTV, Japaridze said casino tourism could provide a profitable business model for reviving the resort, arguing that conventional hotels alone may not justify the required investment.
“After the change of government, the project was abandoned,” he said, noting that gambling generates tax revenue and creates jobs.
The discussion comes as Georgia has relaunched auctions for 10 former sanatoriums in Tskaltubo. The properties have a combined starting price of GEL 49.2 million, while investors must commit at least GEL 314 million to their development, excluding VAT.
Japaridze also cited the deteriorating condition of the historic buildings and concerns about Georgia’s investment climate as major obstacles to attracting investors. He argued that rehabilitation could cost more than new construction, making it difficult to secure investment without a highly profitable business model.
