Canada

Canadian Casinos Worry about American Expansion

Canadian Casinos Worry about American Expansion

Casino operators in Canada say that they are worried that if New York approves upstate casinos then both sides of the border will face economic struggles.

Canadian Casinos Worry about American Expansion

Casino operators in Canada are worried that more casinos in New York will cause their profits to fall even further.

Due to the weakness of the Canadian dollar and a tightening of borders, profits at Canadian casinos are already down.

Over the last decade profits from gambling facilities close to the border have fallen from $800 million to $100 million.

At the moment New York is considering adding a further seven casinos on Indian land with Western New York and Niagara Falls considered as good locations for the new casinos.

Niagara Falls Ont. is already a tourist destination complete with luxury hotels, restaurants and casinos. However, profits have been steadily falling. The town’s Mayor, Jim Diodati, said that they’re “getting beaten up on all sides.”

On the American side is the Seneca Niagara Casino which has been steadily eroding Canada’s profits since it opened in 2002, thanks to a tax free advantage and steady profits it is able to attract players with hotel discounts and free alcohol.

However, some think that New York could have the same problem since Gov. Andrew Cuomo promised at least three new casinos in upstate New York.

Canada

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