MLSE’s Larry Tanenbaum joins the ranks of wannabe casino owners

The latest big-wig to dream about owning a colossal casino on Toronto’s waterfront is Larry Tanenbaum, billionaire and chair of Maple Leaf Sports and Entertainment. Like MGM Resorts International, which has been quite vocal about its preference for a waterfront casino, Tanenbaum was quoted in the Globe and Mail saying he’d prefer a casino along the water, near the core. While most of the early buzz came from Nevada stalwarts like MGM and Caesars Entertainment, Tanenbaum is the second mega-rich Torontonian to show interest. Earlier this week, Gerald Schwartz, head of the Toronto-based buyout firm Onex Corporation and one of the 25 Canadians to make Forbes’ billionaires list, told the Globe and Mail Onex would “definitely be interested” in opening a casino in Toronto, and not just on the downtown waterfront. Another difference between the two Toronto-based titans? Schwartz is the owner of the Tropicana hotel and casino in Las Vegas and Casino ABS in Edmonton, Lethbridge and Calgary. Tanenbaum, meanwhile, only has gaming experience on a much smaller scale: his company, the Kilmer Group, operates charity bingo gaming centres in Barrie, Hawkesbury, Pembroke, Penetang and Sudbury, Ontario. Since casino proponents are thinking mega-complexes, not bingo halls, Tanenbaum had better start looking for partners. [Globe and Mail]