Retail News - Page 22

FairHamilton · #**421** Posted **Jan 9, 2009, 7:53 PM**

From Spec website today; http://thespec.com/News/Local/article/493402

So much for wishing for a hotel/casino complex.

oldcoote · #**422** Posted **Jan 9, 2009, 7:54 PM**

Give a destination retailer a sweetheart deal. Would prefer this to be something like 'Sporting Life' or 'Whole Foods' ie a unique retailer to Hamilton.
The challenge lies in finding that tenant. But renting space to Liquidation World, Dollarama & Hart cheapens your image.
Once you attract an key anchor tenant, others will follow.

realcity · #**423** Posted **Jan 9, 2009, 9:36 PM**

Whole Foods is a good idea. But perhaps too upscale, Goodness Me is more our Whole Foods version.

Mac's downtown 'campus' is only administration for "Continuing Ed", NO STUDENTS.

drpgq · #**424** Posted **Jan 10, 2009, 8:17 AM**

Quote:

Originally Posted by FairHamilton

From Spec website today; http://thespec.com/News/Local/article/493402

So much for wishing for a hotel/casino complex.

Yeah I was going to say that a casino was short sighted
and that it hadn't worked out for Windsor and now here's
the proof.

I voted in the referendum against casinos (my first ever
vote) in Hamilton and I would vote the same again.

markbarbera · #**425** Posted **Jan 10, 2009, 2:25 PM**

Naturally business at casinos in bordertowns would be down when things like a struggling US economy and a stronger Canadian dollar has kept the American tourist out of Canada. For the most part the casinos have been huge generators of income for OLG and cannot be summarily dismissed because of a slowdown during an economic recession. Bear in mind, they are still break-even during this economic downturn and are generally recession-proof. And they provide thousands of decent-paying jobs to the area and a heck of a lot of tax revenue.

To say the casino in Winsor has not worked out is a little short-sighted. It may not be having a good operational year this year, but it is certainly not losing money, and in fact has performed quite well since it opened. And again, its current year's performance has more to do with the lack of cross-border tourism and fierce competition from Detroit casinos than anything else. Gotta look at the big picture.

emge · #**426** Posted **Jan 10, 2009, 6:47 PM**

Even if I was a fan of bringing a casino to Hamilton, which I'm not -- I wouldn't want it right downtown at City Centre. Those are two separate issues, and bringing a casino right downtown has a lot of undesirable effects.

MsMe · #**427** Posted **Jan 10, 2009, 9:00 PM**

I thought when they closed the Derby they were going to tear it down and put a drug store there. I was going past Herbies the other day and it had the drug sign on it. So is the drug store inside Herbies? I never shop at Herbies due to some bad experiences I have had there years ago. The Herbies sign was still there too.

markbarbera · #**428** Posted **Jan 12, 2009, 4:32 PM**

Quote:

Originally Posted by FairHamilton

I agree the school site itself would bring not additonal tax revenues to the city, but it would bring something the core is lacking which is permanent residents.

Is this a fair assumption? I don't think a student population can be considered as permanent residents. Rather, it is another transitory demographic.

Dundasguy · #**429** Posted **Jan 12, 2009, 5:07 PM**

Quote:

Originally Posted by markbarbera

Naturally business at casinos in bordertowns would be down when things like a struggling US economy and a stronger Canadian dollar has kept the American tourist out of Canada. For the most part the casinos have been huge generators of income for OLG and cannot be summarily dismissed because of a slowdown during an economic recession. Bear in mind, they are still break-even during this economic downturn and are generally recession-proof. And they provide thousands of decent-paying jobs to the area and a heck of a lot of tax revenue.

To say the casino in Winsor has not worked out is a little short-sighted. It may not be having a good operational year this year, but it is certainly not losing money, and in fact has performed quite well since it opened. And again, its current year's performance has more to do with the lack of cross-border tourism and fierce competition from Detroit casinos than anything else. Gotta look at the big picture.

Casino operators in Las Vegas have found that the mega glitzy places like Bellagio, Wynn, etc. are dogs when it comes to making money. The operating expenses are through the roof and it takes consistant large crowds of gamblers to make money. Even in the boom years, those operators were finding people were there to look instead of gambling, i.e. tourism as opposed to gaming.

The most profitable casinos in Vegas have always been the simple Bingo hall style establishments located off the strip with loads of free paking, no hotel, no entertainment and cheap drinks. Those places tend to attract the hard core gamblers who could care less about the fountains or the shows.

OLGC should have learned the lesson and made them basic bare bones casinos. They could have saved the $1B for Niagara and built something else.

adam · #**430** Posted **Jan 12, 2009, 5:10 PM**

Quote:

Originally Posted by markbarbera

Is this a fair assumption? I don't think a student population can be considered as permanent residents. Rather, it is another transitory demographic.

University students occupy for 8 months of the year, but it is a consistent thing year after year. As a demographic, they represent the top 30% of their graduating high school class and would do wonders to help decrease the shady character stigma of downtown.

flar · #**431** Posted **Jan 12, 2009, 5:11 PM**

In a sense they are permanent residents too, as one cohort is replaced with another.

markbarbera · #**432** Posted **Jan 12, 2009, 5:27 PM**

Quote:

Originally Posted by adam

University students occupy for 8 months of the year, but it is a consistent thing year after year. As a demographic, they represent the top 30% of their graduating high school class and would do wonders to help decrease the shady character stigma of downtown.

Just like Queens students did wonders for downtown Kingston?

markbarbera · #**433** Posted **Jan 12, 2009, 5:43 PM**

Quote:

Originally Posted by Dundasguy

Casino operators in Las Vegas have found that the mega glitzy places like Bellagio, Wynn, etc. are dogs when it comes to making money. The operating expenses are through the roof and it takes consistant large crowds of gamblers to make money. Even in the boom years, those operators were finding people were there to look instead of gambling, i.e. tourism as opposed to gaming.

What are you basing this on? Bellagio reported $114 million operating profit in the second quarter of 2008. Profit for the same period was $82 million for Wynn Las Vegas and $107 million for the Venetian and Palazzo resorts. I wouldn't exactly call any of these performers as dogs.

FairHamilton · #**434** Posted **Jan 12, 2009, 6:13 PM**

Quote:

Originally Posted by markbarbera

Is this a fair assumption? I don't think a student population can be considered as permanent residents. Rather, it is another transitory demographic.

Perhaps permanent was the wrong word to use, but a minimum 8 months of constant living, surely beats one or two nights at a hotel which could be largely vacant.

By my math the Crowne Plaza was running at about 40% before the McMaster students were put up there during their last term. Do you think a casino which will attract many 'day players' will fill a hotel?

FairHamilton · #**435** Posted **Jan 12, 2009, 6:17 PM**

Quote:

Originally Posted by markbarbera

Just like Queens students did wonders for downtown Kingston?

Apples & oranges.

I'm sure you'll agree the problems with the Queens' homecoming is a Queens related issue and not found at other universities in Ontario.

These types of problems are not found at other universities, especially when the campus is a satellite.

oldcoote · #**436** Posted **Jan 12, 2009, 7:18 PM**

Quote:

Originally Posted by Dundasguy

Casino operators in Las Vegas have found that the mega glitzy places like Bellagio, Wynn, etc. are dogs when it comes to making money. The operating expenses are through the roof and it takes consistant large crowds of gamblers to make money. Even in the boom years, those operators were finding people were there to look instead of gambling, i.e. tourism as opposed to gaming.

The most profitable casinos in Vegas have always been the simple Bingo hall style establishments located off the strip with loads of free paking, no hotel, no entertainment and cheap drinks. Those places tend to attract the hard core gamblers who could care less about the fountains or the shows.

OLGC should have learned the lesson and made them basic bare bones casinos. They could have saved the $1B for Niagara and built something else.

Cheap drinks? You're getting hosed.

The upscale casino's don't make their money from Joe Average. They make their money from the whales.

Whales don't frequent the Casino Royale or the Imperial Palace.

markbarbera · #**437** Posted **Jan 12, 2009, 7:23 PM**

Quote:

Originally Posted by FairHamilton

Perhaps permanent was the wrong word to use, but a minimum 8 months of constant living, surely beats one or two nights at a hotel which could be largely vacant.

By my math the Crowne Plaza was running at about 40% before the McMaster students were put up there during their last term. Do you think a casino which will attract many 'day players' will fill a hotel?

You are assuming that students at a downtown campus will live downtown as well. I think you will find satellite campus have a demographic that is more a 'day-tripper student' i.e. continuing education/grad students who already live within commuting distance of the satellite campus. After all, the concept of a satellite campus is to attract students that would not want to relocate to the core campus of the institution. Either way, the presence of a student campus downtown will have no impact on hotel vacancy rates.

I guess the question is, which would generate more revenue and create more jobs in the downtown core, a satellite campus or a casino?

Blitz · #**438** Posted **Jan 12, 2009, 10:05 PM**

Quote:

Yeah I was going to say that a casino was short sighted
and that it hadn't worked out for Windsor and now here's
the proof.

I voted in the referendum against casinos (my first ever
vote) in Hamilton and I would vote the same again.

The casino has worked for Windsor. It employs over 4000 people and having a major employer that is separate from the auto industry was and still is very important for the city. The expansion has brought in big-name acts that casinos in Detroit can't compete with.

MsMe · #**439** Posted **Jan 12, 2009, 10:19 PM**

Quote:

Originally Posted by Blitz

The casino has worked for Windsor. It employs over 4000 people and having a major employer that is separate from the auto industry was and still is very important for the city. The expansion has brought in big-name acts that casinos in Detroit can't compete with.

Did the crime increase when they built the casinos there though?

adam · #**440** Posted **Jan 12, 2009, 10:23 PM**

Quote:

Originally Posted by markbarbera

Just like Queens students did wonders for downtown Kingston?

The article has nothing to do with what we are talking about. It is about Queens "student ghetto" area. Not the downtown. We are talking about downtown Hamilton, not Mac's student ghetto (Emerson St. and surrounding area).