Gerald Schwartz, head of Toronto’s Onex Corp., has expressed interest in owning and operating the newly proposed Toronto casino, according to the Globe and Mail. With a great deal of capital to open the venue and a wide range of experience behind him, he seems to be one of the ideal candidates for the position.
Schwartz already owns and operates the Tropicana, one of Las Vegas’ most famous gambling venues. He has partnered up with Alex Yemenidjian, former head of MGM, making the pair a force to be reckoned with in the gambling market. Schwartz’s Onex Corp. also owns several casinos in Canada, in locations across Alberta.
“We know how to operate a casino,” says Schwartz. “We know the customer-service aspect.”
While Schwartz may be the most eligible Canadian candidate, he will have a great deal of competition from American competitors. Companies likes Wynn and MGM have also expressed interest in operating the new Toronto casino, and the competition over the license may be bitter.
There is still quite a lot of work to be done on the legislative end of the deal, however. The OLG must obtain approval from the public and city councillors before moving forward. The lottery commission will also have to scout out several locations, just in case the former Ontario Place grounds are a no-go.
