A new study by UNLV’s International Gaming Institute found that a casino complex, complete with a hotel and entertainment amenities in the centre of Toronto could greatly help to stimulate the city’s economy.
The study found that the complex would encourage growth for surrounding businesses.
At the same time accounting firm Ernst & Young found that Toronto could make almost $200 million a year from a casino complex through tax revenues and the lease of city-owned land.
It also looks as if some of the largest casino operators, Caesars Entertainment and MGM Resorts are seriously interested in starting a new operation in Toronto. The vice presidents of the two operators have both been seen in Toronto in recent weeks.
The idea of a casino is also backed by Toronto Mayor Rob Ford, however, the city council has 43 members and it is expected that they will take many months to reach a decision.
There are already a number of small and midsized casinos in Ontario including Casino Niagara and Caesars Windsor.
With so much interest from major operators, support from the mayor and major revenues to be made, it seems fairly certain that the complex will be built; however, it could still be some time until the project comes to fruition.