March 14, 2023 3:55 PM
Niagara Falls Mayor Jim Diodati says the new Vegas-style casino in Toronto will cost his city some $4 to $5 million a year.
Since a large portion of the patronage that Fallsview Casino Resort and Casino Niagara come from the Toronto area, Diodati says the city’s initial estimates are calling for a 20 per cent loss in business.
That’s bad for the two local casinos and equally bad for the city as the OLG gives Niagara City payments four times a year for being a host community to the two casinos.
Since those payments are usually between $4.5 and $5.5 million a quarter, that 20 per cent estimate could possibly mean $1 million less per quarter.
Other community officials agree with Diodati’s grim assessment.