STARTING WITH BAD ODDS
November 7, 2012
Fuzzy Financial Un-logic
By Mr. David Nesbitt
A recent issue of “NOW” shows that a major casino in Toronto might be a net loser for all of us. The City might get less than 2% of profits.
This reward would be much less than the tens of percents that American casinos pay to their governments. Might this be exploitation of our ignorance of the casino business?
The cost to Toronto has not had much attention. Experience tells us that developments are rarely within budget, and rarely on time.
Quite the reverse. If a casino will be built, what will its presence prevent Toronto from having in its location? Maybe we should get some Councilors who can think of more than one issue at a time, and maybe more than just one step into the future… On the other hand, developers love to make more friends.
