Comment 83692

By mrjanitor (registered) | Posted December 10, 2012 at 13:56:48

Please follow the link to a report by Ernst & Young on the economic impact of a Toronto Casino Complex:

-Please note on page 33 of the pdf the size of the area impacted by a Toronto casino. The radius is 125 km from Toronto's downtown, Hamilton is well within this.

-Please note on page 42 of the pdf the size of the proposed Toronto casino and the size of the current Niagara Integrated Complex/Casino. Both are over 22 acres. Hamilton's new casino will be sandwiched between two giant tourist factories.

-Please note on page 44 of the pdf the % of revenue from non-gambling sources at major casinos. This is non-gambling spending that is not being spread in the surrounding community but stays within the casino complex. 25% of revenues from non-gambling sources seems to be a reasonable norm in my eyes. Once again, that revenue is money NOT being spent at local restaurants or entertainment venues. How does this capture of non-gambling revenue help downtown businesses?

-Please note on page 47 of the pdf that the Toronto facility is expected to bring $1.4 Billion in revenue in 2012 dollars

-Please note on page 64 of the pdf the pie chart of gaming revenue distribution. Note that 2% is "unallocated"

-Please note on page 67 of the pdf how low Hamilton's hosting fee is relative to other sites

-Please note on page 70 of the pdf the Provence wide #'s for problem gamblers

-Please note on page 89 of the pdf the Ontario Legislative changes made this year to the casino public consultation process

-Please note on page 62 of the pdf the reducing hosting fee schedule. Operators will reap incredible profits by paying less in hosting fees as slot machine gambling increases.

-Please note on page 39 of the pdf (at the bottom) that a "cannibalism factor" of up to 30% is expected to happen to some casinos within the 125km radius of the Toronto complex. Has this Toronto Megaplex cannibalism factor been included in a Hamilton casino revenue forecasting? I have not seen it accounted for yet.

Studies repeatedly prove that casinos are "Economic Islands" in downtowns of North American cities. Don't buy into the lies that a casino will re-vitalize Hamilton's core. Leave it and improve it in Flamborough where it at least supports the horsing industry.


Comment edited by mrjanitor on 2012-12-10 13:59:34

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