Canadian Gambling Industry Takes On Vegas
Toronto is one of the great Canadian cities, and the Canadian Gaming Association believes it has the potential to become one of the great gambling cities as well.
Canadians looking to get into action will often find themselves traveling to places like Las Vegas or Los Angeles, instead of Toronto:
In that past, this reality has been more or less accepted as a fact of life. But that’s all about to change thanks to a new initiative by the Canadian Gaming Association to begin attracting more gamblers to take their chances up north.
New Gaming Facilities In Toronto
Toronto is one of the great Canadian cities, and the Canadian Gaming Association believes it has the potential to become one of the great global gambling cities as well.
To that effect, the Ontario Lottery and Gaming Corp. (OLGC) recently grated a license to the Great Canadian Gaming Corp. and Brookfield Business Partners LP to begin casino operations is the city:
“What we are seeing now is a significant capital investment coming to the casino industry in the coming years with new properties being developed in Ontario, renovations of properties across a lot of regions,” Brookfield said in an interview with calvinayre.com. “That’ll be exciting as Canada is looking to reinvent, reengage customers with new offerings.”
Nearly $1b In Revenue Projected
Early financial projections expect the project to pull in nearly $1b to Toronto.
Much of that projection relies on a calculated strategy to make sure that there is cross-generational appeal. Getting millennials through the door of a casino is proving to be more difficult than the industry would like. However, engaging that demographic is key to making the project a success. So, while difficult, Brookfield stressed that it’s not impossible and will be a key objective of the project:
“Truly understanding how to engage and build those relationships is really important, so, that’s what I think everyone is trying to find the best way to continue to build those customer experience that people want and continue visit the casinos.”
Bottom line, all Canadian hearts can get behind capturing market share from the United States. It won’t be easy, but there’s no reason to believe a premiere world destination like Toronto isn’t up to the challenge.