Wednesday, 01 February 2012 14:50

The proposal to build a casino at the recently closed Ontario Place’s waterfront park has once again been brought into the spotlight, but reluctance from the constituencies of bordering cities continues to dampen any real progress.

The idea of a casino opening up at the Ontario Place, a mere 3 kilometres from Liberty Village, is an old but popular proposal that has resonated with Torontonians who must be tired of making the inconvenient journey to Windsor or Niagara Falls to irresponsibly spend their money.

Supporters of the proposal argue that a casino near the Lake Shore would prove profitable and enhance the city’s international appeal. A casino with such close proximity to Liberty Village would provide an additional dividend to the district’s phenomenal economic growth.

At a time when the city faces a worrying deficit, the revenue that a casino could entice is unequivocally appealing.The economic benefits of a casino which includes job-growth, public and private sector investment and the tourism industry are the alluring reasons why this issue continues to periodically resurface.

However, while a casino may prove beneficial to the city of Toronto,according to the mayors of Windsor and Niagara Falls it would prove suicidal to their respective economies. An indictment, which is often used to characterise Toronto’s grand self-concept within the province.

The major problem with this ambitious plan is that a casino in Toronto would ‘cannibalize’ the existing gambling operations in the province. Provincial governments have repeatedly rejected proposals to construct a casino, and its an issue which Ontario Premier Dalton McGuinty remains obstinate about.

The Ontario Lottery and Gaming Corp. (OLP) is scheduled to release a formidable plan within the next few weeks but until then all talk remains speculation. However, with the closure of the Ontario Place entertainment park, the timing seems to be a bit fortuitous.

The province of Ontario initiated the casino business in 1994 as a way stimulating the bordering cities of Windsor and Niagara to cope with cross-border expenditures. The casinos have allowed Niagara Falls to experience an economic revival by attracting high-rollers to the Horseshoe Falls.

The gambling industry however has seen a sharp decline with recent economic stagnation, as notably seen with Las Vegas’ depressing state. Last year ‘Sin City’ was voted as the ‘most miserable city’ in the United States and led the nation with a 15 % unemployment rate. The dead-money has dried up and tourists have decided to stay away as the depression continues.

Las Vegas’ economic hardships is a lesson from which Toronto can learn from. The strong Canadian dollar and recently imposed border tariffs have made it inconvenient for American tourists to travel north. Casinos in Detroit and Buffalo have made the existing casinos in Ontario even less enticing.

According to the Globe and Mail, the OLP’s revenues have fallen sharply over the past five years. In the first quarter ended in June 30, 2011, they were $297.4 million, down from $404 million in the same period.

A casino in Toronto would undoubtedly be a gamble and one that quite honestly smacks of desperation. The city does not require a casino to enhance its international appeal, a 21st century transportation system could go along way though. The potential revenues a casino would be more beneficial to the government rather than the economy as tax-payers would be entrusted with the burden of financing this project.

Liberty Village may bear witness to an economic growth but there are other social factors- corruption, compulsive gambling and higher-crime rates which are habitual with gambling. At a time when the district is developing its own identity within Toronto, a nearby all-encompassing casino would change the perception many have on this ‘trendy neighbourhood.’

At a time when the city has committed to cutting unnecessary spending, the construction of a casino would be conspicuously contradictory. As many gamblers will tell you at the end of their night, sometimes its best to save your money and invest in something sensible.

Christopher Alvarado