Toronto casino would be ‘totally inappropriate’: Craitor
From the Niagara Falls Review:
Is it just hogwash from hogtown?
Only time will tell.
Recent media reports out of Toronto that Ontario Lottery and Gaming Corp. plans to recommend a casino be built in Toronto have some Niagara Falls businesspeople and politicians nervous.
Provincial government officials insist the 2005 moratorium it placed on building new casinos has not been lifted.
In an e-mail response to The Niagara Falls Review Tuesday, a spokesperson for Ontario Finance Minister Dwight Duncan said the minister will not “speculate” whether or not Queen’s Park will alter its moratorium stance until it sees OLG’s report on the future of gaming in the province.
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Falls casino revenues see signs of recovery
From the Niagara Falls Review:
Niagara remained Ontario’s most popular spot for gambling in 2009 despite drops in revenue, the number of gamblers and employees at Fallsview Casino Resort and Casino Niagara, according to Ontario Lottery and Gaming figures for the last three months of the year.
“We continue to generate substantial revenue for the province,” said OLG spokesman Tony Bitonti. “There was a decrease in the resort casinos by about 4.5%, quarter over quarter.”
As 2009 drew to a close and signs of an economic recovery appeared, OLG reported $333.4 million in the September-to- December period, compared to $349.1 million in the same three-month period in 2008.
Niagara’s two casinos reported gaming revenue of $153.0 million in OLG’s third fiscal quarter.
That was down about $700,000 — or nearly .5% — from the same time in 2008.
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Canadian Niagara Hotels Inc. to Build New Hotel Complex Decision brings new jobs, development and tourists to Niagara Falls
From a PRWeb press release:
Today brings great news for the city of Niagara Falls and the Falls Avenue Entertainment Complex.
The Ontario Lottery and Gaming Corporation (OLG) has renewed the lease of Casino Niagara at its current location on Falls Avenue. The lease extension is for an additional 15 years, showing the Provincial Government’s confidence in the future of Niagara Falls. This commitment creates stability and certainty on which economic development and job creation can be built.
“I am excited that we have this opportunity to bring hospitality & tourism jobs into the much needed private sector in Niagara Falls”, DiCienzo said.
The 300 room 30 floor Hotel with a Falls view will be the first All-Suites Hotel in the Falls Avenue / Clifton Hill area.
Perhaps the press release left something out, as it jumps from talking about the lease extension to how many rooms the new hotel will have. Other than the title of the press release, the hotel isn’t mentioned beforehand.
Also, the press release has a short video that is a promo for the Canadian Niagara Hotels property. It’s simple, but nice.
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$75-million hotel announcement follows casino deal
From the Niagara Falls Review:
Ontario has locked down Casino Niagara’s long-term future with a 15-year extension on the lease at its Falls Avenue location.
The government’s commitment could unleash up to $1 billion in private investment in the area around Clifton Hill -money investors were afraid to spend when the casino’s location was uncertain, said Niagara Falls MPP Kim Craitor.
Ontario Lottery and Gaming, the Crown corporation that owns the province’s casinos, reached a deal with Canadian Niagara Hotels, the company that owns the building Casino Niagara has occupied since its 1996 opening.
“Today is really great news for the employees that work at Casino Niagara,” said Craitor, during a Friday afternoon ceremony at the casino.
It ends uncertainty that has surrounded Casino Niagara’s future for years. While the province was committed to keeping two casinos running, there was no guarantee Casino Niagara would remain on Falls Avenue…
Moments after Craitor’s announcement, Canadian Niagara Hotels released a statement about its plans to start work on a 30-storey 300-room hotel.
The new hotel will be built on land the company owns near its Planet Hollywood restaurant.
The $75-million Marriott Residence Inn would be the first all-suites hotel in the area around Clifton Hill.
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Strong future secured for Casino Niagara
From a CNW Group press release:
The future for Casino Niagara was unveiled today, with the finalization of a long-term lease between the Ontario Lottery and Gaming Corporation (OLG) and Canadian Niagara Hotels Inc. (CNHI).
“The McGuinty government has delivered on its commitment to ensure that Ontario not only maintain two casinos in Niagara Falls but also enhance the exciting variety of gaming and entertainment options for Ontarians and visitors alike,” said Kim Craitor, MPP for Niagara Falls, who made the announcement on behalf of the Honourable Dwight Duncan, Ontario’s Minister of Finance and the Minister responsible for the Ontario Lottery and Gaming Corporation.
OLG and property owner Canadian Niagara Hotels Inc (CNHI) announced agreement on a 15-year lease extension for the current location, effective March 1, 2010. The extension provides long-term economic stability for local businesses, employees and communities in the region.
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Casino Niagara future appears secure
From the Niagara Falls Review:
The Ontario government appears to have secured Casino Niagara’s long-term future. Niagara Falls MPP Kim Craitor is expected to make an announcement at the casino Friday afternoon about the “economic future” of Niagara Falls. The location of Craitor’s announcement is listed as the second-floor atrium of Casino Niagara.
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Casino lease extension makes sense: Premier
From the Niagara Falls Review:
Protecting the Ontario government’s own investment in Casino Niagara is the reason it has to be treated differently from the Maid of the Mist, says Ontario Premier Dalton McGuinty, rejecting opposition calls to invite bids from property owners interested in hosting a casino.
“There is a distinction,” the premier told reporters in Niagara- on-the-Lake Wednesday where he spoke at the Ontario Economic Summit.
With Ontario Lottery and Gaming’s lease on the casino’s Falls Avenue location set to expire in March, McGuinty said his government’s preference is to have the Crown corporation continue negotiating an extension with landlord Canadian Niagara Hotels.
The government has two options for Casino Niagara – renew the lease “at a reasonable rate” or abandon the Canadian Niagara Hotels location for a new location to be determined later.
When Casino Niagara opened in 1996, Ontario Lottery and Gaming pumped $125 million into the old Maple Leaf Village site to convert a defunct amusement park into Ontario’s second commercial casino.
Building a new casino would mean walking away from the initial investment and some smaller expenditures like the $12 million spent in 2005 when sports betting came in.
“When you look at it that way, it really makes sense for us to do the best that we can to negotiate a reasonable new lease at the existing site,” McGuinty said. “It was a lot of money to build that casino inside that space.”
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‘Progress’ on Casino Niagara lease, but talks ongoing
From the Niagara Falls Review:
Ontario Lottery and Gaming and Canadian Niagara Hotels have made progress in talks to keep Casino Niagara in the location it has occupied since 1996, more than two years after Premier Dalton McGuinty told OLG to “get a deal.”
“There has been some positive progress,” said Dino A. DiCienzo, vice-president of Canadian Niagara Hotels, the company that has been the landlord for the government-owned casino since it opened on Falls Avenue.
The two sides met recently, something DiCienzo considers an improvement, considering they went months at a time without any meaningful discussions.
“Now, there has been some positive meeting with more of a community vision for Niagara Falls,” DiCienzo said.
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