Toronto gaming facility could create 12,000 jobs and spur billions in capital investments
TORONTO, Sept. 21, 2012 /CNW/ – A new gaming entertainment centre on the waterfront or in downtown Toronto could create 12,000 new jobs, 6,000 construction jobs, and lead to more than $2 billion in capital investments. That’s the message Paul Godfrey, OLG Chairman, delivered today during a speech to the Toronto Board of Trade.
“This would be one of the largest development projects anywhere — and anytime — in Canada and would involve a capital expenditure of more than $2 billion,” said Godfrey. “Once operational, it will directly employ some 12,000 people in well-paying jobs.”
Mr. Godfrey said OLG’s vision for a GTA facility is one of an integrated gaming entertainment centre. It would stand out with bold design and architecture, connect naturally to the community, and work with and support local business.
“We envision a facility in which less than 10 per cent of the square footage would be dedicated to table games and slots,” said Godfrey. “There would be gaming, but also hospitality, entertainment and retail.”
While acknowledging that there has been a lot of interest and discussion in the media about the possibility of a Toronto casino, Mr. Godfrey indicated that OLG will not impose a gaming facility on any municipality.
“There is a tremendous opportunity here for the City of Toronto,” said Godfrey. “But we believe that there are other municipalities in the GTA that are equally viable hosts for a new gaming facility. OLG is going to move forward with one gaming entertainment centre in the GTA, but we are only going to do so in a community that welcomes us.”
OLG’s Modernization plan will increase its contribution to the Province by $1.3 billion annually, drive billions of dollars in capital investment and create thousands of jobs across Ontario. To date, OLG has heard directly from 33 communities across the province who support a gaming facility in their community.
More information on OLG’s Modernization Plan can be found at www.modernolg.ca.
OLG is a provincial agency responsible for province-wide lottery games and gaming facilities. Since 1975, OLG lotteries, Casinos, Slots, and Resort Casinos have generated more than $34 billion for the benefit of the Province of Ontario. Gaming proceeds support Ontario’s hospitals, amateur sport, recreational and cultural activities, communities, provincial priority programs such as health care and education, and local and provincial charities and non-profit organizations through the Ontario Trillium Foundation.
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