One of the world’s largest gaming companies with an interest in building a casino in Toronto has pitched a new project that will include a partnership with a famed circus company and a local celebrity chef.
In an attempt to build support for the proposal, Jim Murren -- chairman and CEO of MGM Resorts International -- explained the company’s vision during a speech to the Economic Club of Canada in downtown Toronto on Tuesday.
Revenue estimates have varied as the city wrestles with the idea of allowing a casino within city limits, but Murren believes a gaming complex operated by MGM would attract one million new visitors, who would spend $1 billion on things other than gaming, and create thousands of “good-paying jobs” for GTA residents.
Murren said a casino operated by MGM would partner with the Montreal-based Cirque du Soleil and celebrity chef Mark McEwan.
Cirque du Soleil would be the “centrepiece” of an integrated resort, while McEwan would work with MGM to create a “world-class dining experience” for visitors, Murren said.
As he made his case, Murren said the best location for such a venue would be Exhibition Place.
MGM and Caesar’s Entertainment Corp. are among the companies vying for an opportunity to build a casino in Toronto, should city council vote in favour of one.
Public consultations on a proposed casino are scheduled to wrap up Friday, and council is expected to vote on the idea in April.
Casino heavyweights are licking their chops at the possibility of expanding into one of North America’s largest cities.
Murren said he can think of no other city in North America that has the investment opportunity that Toronto does.
If council votes against a casino, Murren insisted his company would accept their decision and look elsewhere.
"If city council votes it down, no harm, no foul,” Murren said.
During his speech, Murren addressed some of the concerns that have been expressed by opponents or skeptics.
There are fears that a casino would hurt existing businesses, but Murren suggested an “integrated” resort would create spillover revenue and cross-marketing relationships with other businesses.
As for the push to prevent a casino from being built at Exhibition Place, Murren believes the project would revitalize Ontario Place, and he said traffic flow would be redesigned to address congestion concerns, and transit infrastructure and heritage buildings would be retained.
According to Murren, Ontario Lottery and Gaming will be in a position to appeal for applicants by the end of 2013, and could award a casino deal by this time next year.
Locations that are currently being considered for Toronto are Exhibition Place, the Port Lands, a downtown site and Woodbine Racetrack.
With files from CTV Toronto reporter Natalie Johnson
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