MGM Resorts is betting the city of Toronto has “no better than” a 50-50 chance of approving a casino, Murren told a Global TV show earlier Tuesday.
“If it doesn’t happen here there will be one somewhere in Ontario,” he said during a press conference following the speech. “Our preference and the OLG’s preference is to be in Toronto.”
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“If we were to invest $2 to $4 billion in Toronto we would employ thousands of people. The average income of the people we employ is over $60,000 a year,” he said.
It would take three years to build, employing thousands more people.
Toronto is one of the most attractive cities in North America to build one because of its highly diverse population, he said. “Many of them are already our guest at the Bellagio in Las Vegas,” he said, referring to one of MGM’s premier properties.
Other projects MGM is pursuing are much smaller, for example near Washington, D.C., where it plans to spend $800 million.
Within the city, Exhibition Place is one of the most desirable locations and one that could help revive Ontario Place if the economic benefits of the casino helped fund more parks, playgrounds and beaches, Murren told the Economic Club.