The Mayor of Niagara Falls isn’t a fan of the New Toronto Casino – Casino Reports
Last week, Ontario announced it would open a CA$1 billion gaming property in Toronto, but Niagara Falls Mayor Jim Diodati is concerned. In a recent interview, the mayor said the introduction of the new casino could cannibalize the province’s industry and negatively impact Niagara Falls’ two major casinos.
According to the Ontario Lottery and Gaming Corporation, Toronto’s new casino would be the largest in the province and is set to open in the summer of 2023. It is operated by Great Canadian Entertainment and referred to as the Great Canadian Casino Resort Toronto. In addition to a casino, it would come with a hotel, an entertainment center, and a parking garage.
Game model could be a problem
Following the announcement of the new CA$1 billion casino, Mayor Diodati spoke about its potential impact on the local onshore gaming industry. He said the province should not cut the cake into smaller portions and grow instead. He added that Niagara Falls is a unique destination for the country and perhaps a new model is needed as the gambling sector has changed drastically.
Currently, Ontario owns the casinos while third-party operators are responsible for the properties. He explained that through this model the outside companies will not invest large amounts of money to update someone else’s casinos. He cited Las Vegas as an example, where operators own the property and it is in their interest to improve it through reinvestment and reconstruction.
He said the original High Court mandate for Niagara Falls was to use gaming properties that would promote tourism, investment, economic development and employment. The mayor also noted that a very small portion of the two casinos in the city hails from the USA. He explained this by saying that New York’s properties allow smoking and offer free drinks.
He also noted that 50% of the city’s tourism revenue comes from Americans, but the numbers are drastically lower when it comes to the two casinos. He claims that is the case because of cannibalization of the market, which he believes needs to grow and focus on the US and international markets, and let Niagara Falls play to its strengths.
Now offer retail sports betting
It should be mentioned that Niagara Falls’ two gambling establishments, Niagara Fallsview Casino Resort and Casino Niagara, came into existence personal sports betting for his patrons to enjoy. The Niagara Fallsview Casino Resort debuted on November 16, 2022 and included 21 kiosks. Meanwhile, Niagara Casino introduced it on November 23, 2022 with fewer machines on its floor.
The launch of retail sports betting at the two casinos was only possible after Ontario gave the green light for provincial rollout. The technique was provided by Kambi’s group in a deal announced in September 2022. through the partnershipKambi Mohegan Gaming Entertainment delivered its premier sports betting platform on property.
Source: Spiteri, Ray”Ontario’s gambling industry is “cannibalizing” itself, says Niagara Falls mayor” Welland GrandstandMarch 14, 2023
https://www.casinoreports.ca/2023/03/15/niagara-falls-mayor-not-a-fan-of-new-toronto-casino/ The Mayor of Niagara Falls isn’t a fan of the New Toronto Casino – Casino Reports