A widely anticipated, new report has suggested that Toronto shall claim half of the hosting fees produced by any casino built in the city before the controversial project gets an approval. The report presented by the City Manager, Joe Pennachetti, on Monday proposed a 50-50 split in casino hosting fees between the city and the province. Furthermore, the report alleged that while city shall be adamant on half, it still requires at least $100 million a year.
The report enlisted numerous conditions that Toronto shall impose to the province and the OLG before approving any casino project. Few of the suggested conditions included a requirement that the casino shall be made part of a larger entertainment and convention centre complex instead of an individual gambling facility, and that any negative impact on the city infrastructure and transit shall be compensated by the OLG.
Only a day in advance of the report, Toronto’s Mayor Rob Ford publicly expressed his support for the casino project, asserting it to be a “golden opportunity” deemed to create thousands of jobs, attract tourists and conventions, and generate millions in tax revenue. He alleged that “the fact is, too many people in Toronto are unemployed,” highlighting that a new casino will aid in drawing large scale conferences to the city. He pointed out that “Toronto currently ranks 33rd in North America for convention business. Neither the Metro Toronto Convention Centre or the Direct Energy Centre at Exhibition Place can attract top-tier conferences. We need to change that.”
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