UNLV Report Examines Economic Dynamics of Casino-Resort in Toronto
Posted: November 2, 2012
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UNLV International Gaming Institute report contends a casino-resort would not harm existing businesses.
LAS VEGAS— November 2, 2012 — A new UNLV International Gaming Institute (IGI) report concludes that the development of an integrated casino-resort in the Greater Toronto Area (GTA) would likely help surrounding businesses and stimulate the GTA’s economy.
The proposed the integrated resort – similar to Las Vegas’s model – would include a hotel, convention and retail space, restaurants, and entertainment amenities.
UNLV researchers Kahlil S. Philander and Bo Bernhard contend that existing research suggests that the tourism, entertainment, lodging, and food and beverage industries could benefit from a casino that includes non-gaming amenities. While the GTA has several forms of gaming, including lotteries, horse racing, bingo, and multi-game sports wagering, integrated resorts are currently located well outside of Toronto.
Philander and Bernhard cite peer-reviewed research on the effects of “cannibalization,” a term used to describe the impact of casino-style gaming on surrounding regional businesses. They conclude that there is no strong evidence to suggest a GTA resort-casino will adversely affect nearby businesses, nor would it greatly affect lottery revenues.