The Ontario Lottery and Gaming Corp.’s strategies to build brand-new on-line gambling establishments have to be slowed down, supplied that the residence resale values of a few of its existing video clip games locations have in fact plunged, the New Democrats claimed Monday.
The online casinos– being composed of those in Windsor, Sault Ste. Marie and Niagara Falls— are worth away less today compared with they were 4 years earlier, explained NDP cash critic Michael Prue.
Practically $260 thousand in reselling worth has actually been rubbed out quick guides at 5 Ontario casino sites, baseding upon the Municipal Property Assessment Corp.
The household home value of the gaming establishment in Sault Ste. Marie has actually decreased $12 thousand or FIFTY every dime from 2008, Caesar’s Windsor has dropped $40 million or TWENTY each cent, and Fallsview Resort in Niagara Falls has actually decreased $173 million or 38 each penny, according to MPAC.
That’s ravaging for municipalities that depend on property income tax earnings from the gaming facilities, mentioned Prue.
“Why will not this government approve that its OLG privatization advancement approaches join complete wreckage?” he asked in the law-makers.
Premier Kathleen Wynne stood up for the method, claiming the OLG wants to make brand-new wagering ventures because the ones close to the U.S. border aren’t generating as much cash as they did a years back…….

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