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Casino could earn city $168m a year

Casino could earn city $168m a year

29-10-2012

Casino could earn city $168m a year

City manager Joe Pennachetti says a casino could be the solution to Toronto’s annual budget woes — if it can convince the Ontario Lottery and Gaming Corporation to pay the city a premium for hosting a large-scale development downtown. Signalling that the current revenue-sharing formula the OLG has in place is unacceptable, city staff have drawn up two alternative scenarios for a downtown “integrated entertainment complex” that could pour $106-million to $168-million a year into municipal coffers. Read more
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