Las Vegas Sands joins the competition for Toronto’s (still hypothetical) casino
Despite the fact that city council is a very long way from approving a casino in the city (the first staff report on the idea isn’t due until October), several companies are already plotting how to be the one to build it. The latest to register lobbyists is Las Vegas Sands, which will be competing alongside Vegas heavyweights MGM and Caesars Entertainment, Canadian mega-firms Onex and Oxford Properties and Larry Tanenbaum, the billionaire chair of Maple Leaf Sports and Entertainment. Las Vegas Sands senior vice-president Andy Abboud told reporters the resort giant has explored sites all over the GTA, but its main interest is in the downtown core and waterfront. Not surprising, considering the company is known for building mixed-use complexes with convention centres, retail and entertainment. (It’s also known for balancing a massive ship atop three towers in Singapore, but that’s besides the point—we hope.) [Globe and Mail]
2 thoughts on “Las Vegas Sands joins the competition for Toronto’s (still hypothetical) casino”
Taking into consideration Toronto’s past disdain for Casino proposals and current efforts by Godfrey (not Gilbert) to privatize the industry, it is unlikely that the American Corps. will actually realize an establishment. More than likely this plan was put into motion by Tanenbaum Sr. and Godfrey, who were close friends. After Toronto rejects the proposal, the institution for privatization would have, and currently has, passed. Leaving only a few logical options. Updating the Woodbine location (since it would only be a reno application) under new management (primarily Tanenbaum)or finding one of the 29 zones that will approve a local. Again, this is just a shift towards privatization that has already commenced and cannot be stopped. However, its almost 100% that there will not be a casino in downtown.
To add to my previous comment, the American corporations are most likely a result of reports of privatization, they are not causal, just correlated. Even an undergraduate Econ major could string together the statistics from the Nimby polls, the privately funded research into the acceptance of a casino and the demographics of Toronto, to come to the conclusion that a casino will most likely not take off. The OLG is the organization that decided to privatize, it opened a market and this is the fall-out. Rational minds, who have read all the related articles, will be able to deduce this easily. Unfortunately, its just a grand waste of local business’ time. The area around the CNE has froze since reports of a possible casino on the grounds, definitely costing millions in potential revenue.
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