Canada

Smaller Revenues Expected from Toronto Casino

Smaller Revenues Expected from Toronto Casino

While reports were given to the Toronto City Council that a casino could be worth $168 million to the city, the Ontario Lottery and Gaming Corp has warned that the city should expect “significantly less”.

Smaller Revenues Expected from Toronto Casino

New reports indicate that profits from any Toronto casino would be significantly smaller than predicted.

A recent article has estimated that the provincial hosting fee for a downtown location will be anywhere between $50 million and $100 million per year.

Tony Bitonti, spokesman for the OLG, said that the new figures were determined after looking at potential sites and discussions with potential operators. According to Bitonti the larger the facility the larger the fee will be.

The idea of a Toronto casino is supported by Mayor Rob Ford due to the additional revenue it is expected to bring the city.

However, Councillor Mike Layton believes that “all of the players in this are overestimating the potential benefits” and he is also concerned about increased traffic congestion.

The same concerns have been put forward by Onex Corp, a company lobbying against a downtown casino, instead Onex Corp believes a casino should be build in Markham.

 

Canada

Erika has been writing about entertainment since high school. She likes to brag that she is “paid to go to the movies, paid to listen to music”. The Quebec native also writes about French-Canadian issues in English and French for Online Casino Archives Canada. When she’s not critiquing new movies, she enjoys watching her collection of film noir.

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