Progress Made in Hamilton Casino Proposal
Progress has been made in favor of a new casino in Hamilton, Ontario after city councillors voted that they are willing to consider the local racetrack, Flamboro Downs as a location for the proposed casino.
A loophole in the motion which saw an agreement among council members that Flamboro Downs is their preferred location, as other sites may also be considered if the track is not found to be a viable site.
Even though the Ontario Lottery and Gaming Corporation has assured Hamilton city council that they have the final say in any decision made, a motion in the vote was also included that council has the right to veto any other proposed gaming sites.
Last year, the OLG ended its Slots at Racetracks program and announced that it was moving towards a new modernization process. As part of the overhaul, Hamilton was offered rights to build a gambling casino if council voted in favor.
400 Page Casino Report
Before the vote, council was presented with a report numbering 400 pages, which gave a breakdown of the economic impact that a potential casino would have on the area.
At present, around 175 direct racing jobs are provided by Flamboro Downs, a half mile track which offers racing and slots entertainment to visitors.
The track also provides 250 race day jobs and 3,500 indirect jobs to local residents.
Hamilton receives $4.4 million slots revenues from Flamboro Downs, and $150K in property taxes. A huge chunk of the property taxes was cut because of an assessment appeal on the $750K that was originally paid.
In 2011, residents of the city spent close to $79 million on gambling activities, with less than half of that spent at Flamboro Downs and the rest at other gambling destinations outside of Hamilton's perimeters.
54% of slot revenues at Flamboro Downs came from local residents, while out-of-towners contributed the rest.
Invitation for Casino Bids
Now that council has given a conditional green light, the Ontario Lottery and Gambling Corp will be putting out a request for proposals from interested bidders on the Hamilton casino proposal.
One of the companies which has already indicated an interest in operating the casino is the local-based RockHammer, which said that it would be closely monitoring the bidding process.
Speaking about the recent vote, PJ Mercanti, who partners with RockHammer said: "I think it was a fair compromise today. It was a smart thing for council to do. It shows tremendous support for Flamborough, but it was important that other options were kept on the table."
