News   Dec 20, 2024
UrbanToronto Year-End Poll: Vote on the Best Buildings of 2024, presented by Sapphire Balconies
 1.2K     6 
News   Dec 20, 2024
UrbanToronto's Social Media Presence Skyrocketed in 2024
 896     2 
News   Dec 20, 2024
Mattamy Homes Records A Year of Accomplishments
 1.8K     0 

OLG Toronto/GTA casino proposal (where to put it?)

Just had a few days in Macau and it is incredible. But it is not Toronto. Toronto needs to work out what works in Toronto for Torontians. That being said, Asia is coming along quite well. Keep Toronto what it is.
 
NOW: Downtown casino “probably deadâ€

On Wednesday, Premier Kathleen Wynne directed the Ontario Lottery and Gaming Corporation to review the formula it uses to determine how much it pays cities that agree to host a casino.

The move comes after several municipalities objected to the prospect of Toronto receiving a special deal.

Under the current formula, Toronto would receive roughly $20 million a year from a large casino resort. But OLG, city staff, and pro-casino council members have suggested that Toronto should be given preferential treatment because of the greater revenue a resort in Canada’s largest municipality would generate. OLG had floated a figure of $50 – 100 million.
Click to expand...
 
I wouldn't say it's dead yet. The only thing as far as I know that Wynne has said is that the same formula be applied to everyone. There's no indication there that the existing formula has to be applied. I'm sure there are many ways the OLG can re-jig the formula to still provide a sufficient bribe to the city if they really want a casino here.
 
ttk77 said:
I wouldn't say it's dead yet. The only thing as far as I know that Wynne has said is that the same formula be applied to everyone. There's no indication there that the existing formula has to be applied. I'm sure there are many ways the OLG can re-jig the formula to still provide a sufficient bribe to the city if they really want a casino here.
Click to expand...

Id be happy if Markham took this off our hands.. Im becoming increasingly sceptical of everything as well. If we arent talking over 100 million a year then really we arent getting enough to help transit or pay off the added cops we would need. I just think this is a big headache whcih nothing good will come out of... My other favourite spot is woodbine. Resurrect woodbine live and call it a day if Toronto MUST have it.
 
I'm not wholly opposed to the Sands/Oxford proposal, but the hosting payments must be enough to cover all additional costs that the casino might incur (policing, gambling addiction treatment, etc...) as well as provide us with additional funds to improve the city. Anything less and they're welcome to build elsewhere. 20 million won't even come close, and I doubt that 100 million will either.
 
A measily 50M a year? I don't see any benefits. I rather pay the car registration tax. Unless they promise enough revenue to fund a subway, it's pointless.
 
sixrings said:
Id be happy if Markham took this off our hands.. Im becoming increasingly sceptical of everything as well. If we arent talking over 100 million a year then really we arent getting enough to help transit or pay off the added cops we would need. I just think this is a big headache whcih nothing good will come out of... My other favourite spot is woodbine. Resurrect woodbine live and call it a day if Toronto MUST have it.
Click to expand...
Markham said no last June.
 
PinkLucy said:
Markham said no last June.
Click to expand...

Huh what ??

No they didn't !

Keep in mind the Mayor has a major grip on that city, and residents are completely ignored ......

I think Markham will take this for donwtown Markham.
 
Missing in the debate over what should be Toronto's fair share is how much does the Province expect to rake in? How much will the Province tax gaming revenues and what are the expected gaming revenues for the Casino's being proposed?

The taxation on gaming revenues varies greatly throughout the world. In Las Vegas it is 6.7%. In Macau it is 39% ! Macua, which is larger than Las Vegas now, rakes in $1 Billion in taxes on gaming EACH MONTH!

If Toronto approves a Casino the only fair funding arrangement would be for the City to receive a percentage of the gaming tax revenue. It would be stupid for the city to accept a flat "hosting fee" . It is illogical to propose that this flat fee be the same whether the Casino is located in downtown Toronto or Markham. The fact is by locating a Casino in Downtown Toronto the revenues will be much higher than in some outlying community. Why shouldn't Toronto receive a fair slice of this bigger pie? For Kathleen Wynne to think that what she is proposing is fair and/or the city of Toronto will willingly accept such an unfair formula just proves to us just how stupid this woman is!
 
Last edited:
denfromoakvillemilton said:
If we want a Casino Last Call has to be changed. LA is changing theirs to 4am
Click to expand...

Uhhh... how does that work? So, the casino will have more hammered players losing all their money, followed by letting them out on the street at 3am, followed by them having MORE to drink prior to their inevitable drunken rage against the gods of poker? Wow, what a bad argument for a casino... and a later last call.

I'd say that proposing an unlicensed casino would go further to assuage the concerns of the anti- crowd. But that would cut into profits, wouldn't it?
 
You must log in or register to post here.

Back
Top