Toronto is the “biggest opportunity in the world right now” for casino companies

The Toronto Star recently took a close look at the competition for the GTA casino, squeezing details out of insiders at MGM Resorts, Caesars Entertainment and some of the other mega-companies hoping to secure the contract. And the competition is fierce—one source called a development gambling’s “biggest opportunity in the world right now,” while another, working for one of the big players, estimates his client will have shelled out $2 million by the end of the bidding process (apparently, lobbyists, polls and focus groups are expensive). Interestingly, MGM has reportedly suggested it would help pay for a long-overdue rebuild of Ontario Place if given the go-ahead to build a casino across the bridge at Exhibition Place, and Caesars has expressed interest in a similar plan. Still, before the cash-strapped province can avail itself of that cash, it has to convince Toronto city council of a couple of things:  a) that a casino in the city is a good idea; and b) that it should go on the waterfront. And lately, the province has seemed less willing to insist upon either of those points. Read the entire story [Toronto Star] »