Ontario Lottery And Gaming Talks About Proposed Toronto Casino

Proposed casino expansion talks are heating up in many north east states such as Maine, Massachusetts, New Hampshire and Rhode Island, but those discussions aren’t just limited to the United States. The Ontario Lottery and Gaming Corporation announced at a Monday press conference plans for a new casino in Toronto, Canada, which is less than a two-hour drive from the New York border.

“We are prepared to move forward immediately on discussions with municipal leaders to bring one new, world class gaming center to the [greater Toronto area],” said Chairman Paul Godfrey. “It will create jobs and be a catalyst for economic growth and prosperity, it will generate new revenue and be crucial for tourism.”

The OLG believes that a new casino property would create 2,300 jobs and pump roughly $3 billion into the local economy. Additionally, the group is also planning to increase lottery ticket sales by expanding the number of locations allowed to sell them to department stores and supermarkets. Officials are hoping the new revenue source will make a significant dent in the province’s $16 billion debt.

In addition to another possible casino location in Ottawa, the OLG also spoke about introducing an online-based gaming site, which would be the only site licensed and regulated by the Ontario government.

The proposed casino’s detractors point to dwindling gaming revenue from existing sites adjacent to the U.S. border, thanks to casino expansion within the states and the recently added need for passports. In a span of ten years, those properties saw profit fall from $800 million to just $100 million.

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