This plays to the strength of GEO
Depending on California prisoners is a nightmare. The state is issuing vouchers and drastically cutting back its prison population.
GEO got a permit to build near its Lawton, OK prison last year and has yet to make any progress on the construction. There are 3,000 empty for-profit prison beds in that state.
GEO bid to lease a mothballed state prison near Vegas but was turned down.
In this market, there are no financing schemes that will bail it out.