A new project by Caesars Entertainment could land Toronto a brand new casino.
The company is one of six bidders with plans to develop an entertainment complex in the city. The project was started in hopes that it would promote the company's growth and persuade creditors to support their reorganization. Such support is necessary for Caesars Entertainment, as it is currently facing bankruptcy.
In July 2015, the city of Toronto voted to approve a new casino as long as a venue included an entertainment complex. Two locations in Toronto are currently being considered, and OLG will announce the winner sometime next summer.
After losing out on a Boston deal, Caesars has been looking for alternative options. Toronto was one of their choices because a casino in the city would be the largest in Canada and would have the potential to bring in hundreds of millions in profits each year.
What do you think of this initiative? Would you like to see a casino in the city, or do you think it's a bad idea?
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