Steve Buist of The Hamilton Spectator has written an article that compares the financial productivity of Ontario's destination casinos to the former slots-at-racetracks program. His report finds that four of the resort-casinos have lost a combined $360 million in the last six years. On the other hand, Ontario's 17 racinos and six smaller charity casinos returned $5.6 billion in profits over the last six fiscal years.
The article also states that during those six years, the resort casinos in question (located in Niagara Falls, Windsor and Rama) have handed out $1.6 billion in 'freebies,' cash incentives, marketing and promotion.
In contrast, as the report explains, the province's 23 racetrack slot facilities and charity casinos have produced an overall average profit of $2.6 million a day since 2007.
To view The Hamilton Spectator article, click here.
(With files from The Hamilton Spectator)
So this is why all the 10
So this is why all the 10 pound brains are making six figures salaries at OLG? Lets spend millions on marketing by giving gamblers money to gamble with. I don't see any universities jumping up to indicate they taught any of these people about business. I am baffled that a company that has a monopoly on gambling has found a way to run it into the ground.
Don't let logic get in the
Don't let logic get in the way of a good time (politics).