City Eyes Casino As Possible Solution To Money Woes

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Posted by E2EK1EL on Jul-20-2007 01:49:

City Eyes Casino As Possible Solution To Money Woes

City Eyes Casino As Possible Solution To Money Woes
Thursday July 19, 2007
CityNews.ca Staff

Toronto city council is reportedly looking at the possibility of building a full casino at Woodbine Racetrack to help raise funds for the cash-strapped city. Currently the facility only houses slot machines, but the proposal could see the addition of roulette, craps, and other games.

On Tuesday council gave the go-ahead to a $750 million development for the racetrack including adding more space for a casino. The decision, however, isn't the city's to make but the province's - since it's that level of government that licenses casinos. A spokesperson for Public Infrastructure Renewal Minister David Caplan said this week that the Toronto suggestion isn't being considered at this point. That could change as consultants hired by Woodbine are reportedly lobbying the province to have a 2005 moratorium on new gaming sites lifted.

However, several members of the Mayor's executive committee say they're not too fond of the proposal.

"Usually, bingos, lotteries, casinos are seen as ways to get extras within a society," says Councilor Joe Mihevc. "But to pay for fundamental public services, this is definitely not the way to go."

The political realities of a provincial election on October 10 may very well keep the government from deciding on a new casino, says ward 19 councilor Joe Pantalone.

"There is no way...that they would introduce a controversial issue such as casinos," says Pantalone. "Because it's an issue of values, gambling: is it a good thing, is it a bad thing?"

The city is trying to figure out how to deal with its $575 million dollar deficit while continuing to provide its current level of services to Torontonians. Mayor David Miller lost a vote earlier this week to impose a higher land transfer tax and an annual vehicle registration tax. Afterward he warned that the city would have to tighten its belt and possibly make service cuts in order to cut down its debt.

http://www.citynews.ca/news/news_12996.aspx

Posted by catinthehat on Jul-20-2007 02:31:

Sweet. Now I don't have to drive an hour up to Rama to lose my money.

Posted by Yohan on Jul-20-2007 02:34:

Someone explain to me where the city is going to find 750million bucks.

Oh right. More public debt, which will actually be bigger due to interest.

Posted by I_Am_Vince on Jul-20-2007 02:48:

They'll probably make it back though, it takes money to make money.

Posted by Abercrombie on Jul-20-2007 03:11:

Montreal's is still doing well, why not? It will be busy as hell the first year, then tapoer off as interest (and spending money) disappears.

Posted by Zentac_75 on Jul-20-2007 16:42:

Casino's are bad. Gambling is bad.

I enjoy both very much, but do not wish for either to be in my backyard. I've read many reports that all point to casinos RUINING local communities (I fishing through some magazines looking for sources now).

Sure they make lots of money....but at what cost.

If I had a choice, I would categorically vote against a casino in Toronto.

Posted by Jayx1 on Jul-20-2007 18:46:

of course they wont use this as a vehicle for waterfront development will they? Cant make noise for the islanders! Lets just build another wall of condos down there!

This plan stinks. The idea is great but Woodbine is the WRONG location.

Posted by Cro_Addict on Jul-20-2007 18:50:

quote:
Originally posted by Jayx1
of course they wont use this as a vehicle for waterfront development will they? Cant make noise for the islanders! Lets just build another wall of condos down there!

This plan stinks. The idea is great but Woodbine is the WRONG location.

yeah ...PLUS

I don't think the casino would really do the city as much good as they think. The province takes 90% of the profits....the rest is left for the city. Hardly enough. If they want this to bring in profit they would have to try and convince the province to let Toronto keep more money, but of course this could never happen (what about all the other cities).

Posted by Jayx1 on Jul-20-2007 18:52:

quote:
Originally posted by Cro_Addict
yeah ...PLUS

I don't think the casino would really do the city as much good as they think. The province takes 90% of the profits....the rest is left for the city. Hardly enough. If they want this to bring in profit they would have to try and convince the province to let Toronto keep more money, but of course this could never happen (what about all the other cities).

It may not directly, but think of the spin off in tourism? Then again, this council seems to forget what fun is all about. Look at their stand on nightclubs!

Posted by ravr on Jul-20-2007 18:53:

Casino @ Rexdale?

That community has been through enough already. Seriously

Maybe Miller shouldn't have given the go to hire so many cops, built so many police stations and lots and lots of cameras around the city.... TTC is also run by gangsters and is always asking the city for more money while increasing fares. Of course, there is also the issue of money management... City Tv is doing an investigation in their 6 clock news special as to why we are facing a budget problem... should be interesting

Posted by Cro_Addict on Jul-20-2007 18:56:

quote:
Originally posted by Jayx1
It may not directly, but think of the spin off in tourism? Then again, this council seems to forget what fun is all about. Look at their stand on nightclubs!

That is true. Being from Windsor I can see the impact that a casino can make. Even Casino Windsor has been impacted by the dollar and no smoking law.

Toronto is not a border city, plus the no smoking rule has killed the business in the casinos, and now that the Canadian dollar is strong people won't really go out of their way to go gamble in Canada.