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Where Will MGM Build Its First Canadian Casino?

February 15, 2013 at 4:32 PM | by | Comments (0)

One of the corporate giants largely responsible for the growth of the gambling and gaming industry in the U.S. is now knocking on our northern neighbor's door.

MGM Resorts is making progress in its bid to build its first hotel and casino in Canada. MGM chairman and chief executive officer Jim Murren (in photo) stated on TV earlier this week that the project has a 50-50 chance of being approved by the city of Toronto. “If it doesn’t happen here there will be one somewhere in Ontario,” he said during a press conference. “Our preference and the OLG’s preference is to be in Toronto.”

It's said that the city of Toronto and the Ontario Lottery and Gaming Corp. are mulling it over, though The Star reports that the decision won't come for about a year. Apparently there's been some lobbying going on behind-the-scenes, but that shouldn't surprise anyone.

It is interesting to us that some large stakeholders in Vegas -- MGM and Wynn, for example -- are investing in other cities as opposed to re-investing in Vegas.

We'll let you speculate on what that signifies.

Photo: [DON PEAT/Toronto Sun)]

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