Cirque show part of MGM Resorts’ vision for Toronto casino
Posted January 22, 2013 7:38 am.
This article is more than 5 years old.
The head of MGM Resorts made his sales pitch to Toronto to build an “integrated resort” at Exhibition Place that would host a Cirque du Soleil show, a casino and serve up cuisine created by renowned local chef Mark McEwan.
MGM Resorts CEO and chairman Jim Murren spoke to the Economic Club of Canada on Tuesday afternoon at the Hilton on Richmond Street.
Murren began by praising Toronto’s beautiful skyline, “grand boulevards,” great arts scene and its “astonishing” culinary community.
“If given the opportunity to do so, I can assure you and everyone else that MGM resorts building a space that reflects the best Toronto has to offer,” Murren told the luncheon crowd.
The city manager is set to report to council in March on public feedback on a possible casino in Toronto. Public consultations are still underway and will end on Friday. Click here for more information. Council is expected to vote on the matter in April.
Mayor Rob Ford has said he’s in favour of a casino, and would prefer to build it in the Port Lands or at Exhibition Place. Casino opponent Coun. Adam Vaughan has called for the issue to be put to a referendum in the October 2014 municipal election.
Murren said his company doesn’t plan to build a standard “standalone box casino,” and stressed that gaming would only represent 10 per cent of the floor space in an MGM entertainment complex.
When discussing potential location, he claims an MGM project would “help to redesign traffic flow and the traffic network in the area” and help ease congestion.
“Were the city to select Exhibition Place … doing so we believe would also revitalize Ontario Place,” Murren added.
If approved, local construction firm PCL would be tapped to build the complex, Murren said, adding the resort would cost between $2 billion and $4 billion. MGM claims the complex would draw one million visitors from outside Toronto every year and would generate $1 billion annually in “non-gaming activities.”
Murren also insists a massive resort wouldn’t negatively impact local businesses.
“Rather than what some call cannibalization … an integrated resort creates new opportunities not only in spill over revenue but also through cross marketing relationships,” he said.
“It is our intent to partner with a lever on the city’s existing businesses.”
Last fall, Caesars Entertainment Group expressed interest in setting up shop at a revamped Metro Toronto Convention Centre, unveiling artist drawings of a casino. Oxford Properties Group earlier proposed a $3-billion redevelopment of the convention centre that would include a hotel, new retail, a casino and office and residential space.
