In many parts of the world, gambling spells big bucks for local government. In parts of Canada, the recent establishment of provincial-run online casino sites has caused the tax coffers to flourish in monumental proportions. While Ontario has yet to see its first online casino opened for business, there is no shortage of brick and mortar complexes, and the Ontario Lotteries and Gaming Corp. (OLG) has made it clear that they would like to see another casino constructed in Toronto.
An exact location for the billion-dollar casino complex has not yet been established, although the buzz around the water cooler points towards the metropolis of Ontario’s capitol. Toronto is the largest city in Ontario, which is, in turn, the most populated province in all of Canada. A new casino in the heart of Toronto would serve to produce as much as $400 million in added revenue for the province, not to mention as many as 18,000 new jobs.
The OLG has partnered with MGM Mirage Hospitality to push for the new casino complex. OLG’s Chairman, Paul Godfrey, delivered a proposal recently wherein he told of all the benefits the new structure would bring to the city and outlying areas. According to Godfrey, it would create as many as 6,000 jobs in the construction field, as well as up to 12,000 permanent employment positions once the mega casino complex was complete. He boasted that this particular gaming establishment would be the largest development project, not just in Toronto or even Ontario, but all of Canada.
“What we have to do is get this process finalized in 2013,” Godfrey warned, giving officials a deadline for choosing whether to accommodate the casino plans. He affirmed that if a decision is not made by then, “we’re going to go somewhere else and get a decision and move on with it.” The OLG Chairman went on to say, “We know that city council is going to debate this at the executive committee in November … so I would think that January, February at the latest.”
Godfrey said that the plans for the new establishment have a lot more to offer than just providing a brilliant gambling destination. The complex as a whole would only dedicate 10% of its total area to gambling facilities.
MGM Mirage Hospitality’s Chief Executive Officer Gamal Aziz gave his opinion of the Toronto location, iterating that it is an international hub for tourism. “Toronto is ‘uniquely positioned’ to become another casino destination because it has direct flights to almost anywhere in the world, especially Europe and Asia.”
As far as the development of online casinos in the province, the government of Ontario approved legislation to legalize internet gaming within the province back in 2010, so long as it was government-run and only proffered to residents of Ontario. That leaves OLG as the sole executioner of such a project. The organization has asserted its intentions to develop an online gaming sector ever since, and at this time continues to maintain its promise to launch an internet gambling forum in the nigh future.