According to the OLG, income from american gamblers has dropped almost 90%
Quote:
Over the past
10 years, the profits from gaming facilities close to the
U.S. border have dropped from $800 million in 2001 to
$100 million in 2011. Resort casinos alone have declined
by over $600 million.
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They are adamant "There WILL be a casino in the GTA, even if Toronto says no to one". There is already one in Niagara.
so.... where are these gambling tourists supposed to be coming from? Winnipeg? Grimsby?
For every 4 million in slots revenue that Hamilton keeps, 80 million is funneled to the olg, who will share some percentage with a US based private operator. I'm not sure if we know that percentage, but that's basically turning around the casino model that was built on taking american money. Now we'll be giving it to them.
This is supposed to help the ontario economy how exactly?
Ya this is a great idea.