City of Toronto may hit the Jackpot with a new casino

The Ontario Lottery and Gaming Corp. is pushing for a casino in downtown Toronto, Ontario.  The Finance Minister of Ontario, Dwight Duncan supports the idea as it would provide a new source of revenue.

Toronto Mayor Rob Ford and his brother Councilor Doug Ford said the administration would support a casino as long as the public is behind it.

If it would create jobs and bring tourists, the answer is yes, and if we could get a piece of the pie it would go towards transit,” said Mayor Rob Ford’s brother and adviser, Councillor Doug Ford.  “We need to build subways.”

The current strategy which was planned in the 1990’s was to have Casino’s near the border like the Niagara Casino’s.  This would make it attractive for American’s to flock the border and play as the US dollar was trading well above the Canadian dollar.

This strategy is outdated and now Canadian Casinos are facing much tougher competition with Michigan and New York State casino which offer $50 gift vouchers, free drinks and smoking on the premises.

It can be difficult to construct a casino as it may generate mixed feelings between the communities.  People that love to gamble would definitely support the idea, however other’s may feel that it will create a gambling addiction.

The new casino, if it gets approved will definitely help towards the Ontario’s deficit which is projected to hit $16 billion at the end of the year.

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