OLG Says Casino Outside of Toronto Would Be More Profitable
Some clarity from the head of the Ontario Lottery and Gaming Corporation. Toronto is not necessarily the coveted spot for a new casino.
Rod Phillips told the Canadian Club that the OLG is looking at a facility within the Greater Toronto Area. He said other communities within the GTA including Mississauga, Markham and Vaughan actually offer cheaper capital costs and easier access from highways, adding that the Ontario Government could actually make greater profits in those other communities.
The OLG thinks they would need half as many construction jobs filled and about 9,500 full time positions for a casino in the GTA, and because there are extra costs associated with building it in downtown Toronto, it would be more profitable.
"The point we are making is one we have made all along, there are choices that OLG and the province have. We want to make sure that (Toronto) and the other cities understand the dynamics of those choices. If a facility costs twice as much in Toronto than it has to make a lot more money and so we want to keep that in front of everyone so they are not surprised."
(some files by D. Agar)