The lure of more than $100-million may have just been taken off the table for Toronto.
Premier Kathleen Wynne has stepped into the casino debate saying that if Toronto says yes to a casino, the Ontario Lottery Gaming Corporation shouldn’t give any special treatment when it comes to the financial windfall that results.
Mayor Rob Ford said Toronto should get a special deal to host a casino. Even though Wynne is telling the OLG to treat all potential host cities the same, Ford doesn’t think Toronto’s casino plans are dead.
“A new funding formula doesn’t necessarily mean it’s going to be bad. We just have to review it,” Ford said. “Now to compare us with Ottawa — we’re three times the size. We’re the largest city in Ontario.”
Without a special deal, Toronto’s casino windfall will be far less than originally predicted.
“It’s effectively told people you’re not getting $100-million, you’re not getting $50-million, you’ll be damned lucky if you get $20-million. Why would you ruin this city for a few million dollars?” Councillor Adam Vaughan asked.
Many councillors said they’re not willing to bet on a casino if the annual revenue to the city is less than $100-million.