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Casino Billionaire Adelson Meets Toronto Mayor

Last week the Las Vegas casino billionaire, Sheldon Adelson, met with the Mayor of Toronto, Rob Ford. Adelson is the CEO and chairman of the Las Vegas Sands Corp. and his meeting with the mayor has been described as “just an introduction.”

Sheldon Adelson demonstrated further interest in a Toronto casino by requesting a meeting with the city’s mayor Rob Ford.

All summer there has been talk of a possible Toronto casino and it is expected that further inroads down this route will be made over the coming months. However, Rob Ford has strongly stated that he will only support a casino if the city supports the idea.

Sands is not the only company to express an interest, MGM Resorts International, Caesars Entertainment and other are all reportedly looking into the possibility of building in Toronto.

Adelson reportedly requested the meeting which also included the mayor’s chief of staff, Mark Towkey, as well as his director of stakeholder and councillor relations, Earl Provost.

Upon leaving the mayor’s office Adelson would only say that “there’s lots of ifs” in regards to any possible casino. Should Adelson win the rights to run a casino in Toronto he would be a major new power player in the city. According to Forbes Magazine he is the 14th richest man on the planet with a net worth of $24.9 billion.

The mayor’s office was also reluctant to give any details about what was discussed during the forty-five minute meeting. George Christopoulos, Ford’s press secretary, said that “the mayor has said he would always keep an open mind to a casino as long as it was a good deal for taxpayers and in the best interests of the city.”

However, it appears that Adelson will struggle to obtain the support of some Councillors, Josh Matlow tweeted that “Toronto Council won’t support a casino in our city.”

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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