While the debate over bringing a new casino to the City of Toronto continues, Toronto Mayor Rob Ford is committed to his decision. He has recently met with Las Vegas Sands’ CEO Sheldon Adelson to discuss the details of a potential casino on the waterfront in Toronto. Adelson and Ford met for 45 minutes this week to discuss the specifics about the casino project. According to Ford’s secretary, Adelson requested the meeting, marking the first time that the two men have met in order to talk about the new Toronto casino.
The Toronto casino project has seen a great deal of interest from casino operators from across North America. Onex Corp, Woodbine, MGM and Caesars Entertainment have all expressed interest in working on the new casino, but its seems that Las Vegas Sands has beaten everyone to the punch. Although this is only the first meeting for Adelson and Ford, it shows that Las Vegas Sands is making more progress than any other casino operator.
The meeting only established initial contact between the two parties. With just 45 minutes to discuss the project, an insider reveals that Ford made it clear that the new casino had to be
beneficial to taxpayers. He also stated that it had to be in the best interest of the city. After the meeting, Adelson told reporters: “There are a lot of ifs”.
Since it does not seem to be a done-deal, there is still a chance for other casino operators to edge their way in. However, they will have to move quickly, as Las Vegas Sands has already made its first move in its plans to secure the contract for the operation of the new Toronto casino.
Still, there is a long way to go before the city can begin the process of building a new casino. City staff are compiling are report on the pros and cons of bringing a casino into Toronto while politicians continue to debate whether or not it is a good idea.