In the context of Georgia’s transition from a planned to a market economy, the regulation of gambling (specifically the gambling business) and its impact on various societal aspects present unique challenges. This dynamic forms a complex interplay among “business,” “society,” and the “state,” each with its distinct interests, advantages, and drawbacks. Notably, the casino industry plays a significant role within this landscape. This study analyzes and discusses the casino industry’s importance, examining both objective and subjective factors influencing its growth and development. Furthermore, it explores the positive and negative effects of the industry on stakeholders, considers fiscal determinants, and addresses financial and socioeconomic issues within this sub-sector. Based on theoretical and empirical analysis, the study provides relevant recommendations.