This chapter examines the role of the Olympic Games in the regeneration of U.S. cities. Using a case study of Atlanta, it illustrates how multiple consumption-based strategies such as sports, public space, education, arts, heritage, and infrastructure development can be used to develop a comprehensive regeneration package. It also questions the political, economic and social implications of the event. In addition, it considers the potential implications of the New York 2012 Olympic bid, demonstrating the complexity of the contemporary bidding process for mega-events. In conclusion, as a lever for regeneration, the Olympics has perhaps passed a point at which it can work for the ordinary citizen, but for elites, in a seemingly ungovernable city, the Olympics may be one of the few strategies of sufficient stature to withstand the thousand blows of oppositional interests.