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Toronto City Council Votes Against Casino

Toronto City Council Votes Against Casino

Toronto’s city council has decisively voted against a major downtown casino despite Mayor Rob Ford’s support for the project.

Toronto City Council Votes Against Casino

The Toronto city council came out strongly against a downtown casino voting 40 – 4 against

After a morning debate the council voted 40-4 against the establishment of a new gambling site in the city. The four votes for the project were from Ford and Councillors Giorgio Mammoliti, Vincent Crisanti and Norm Kelly.

The vote came after city manager Joe Pennachetti released figures showing that the city would receive a $40 million hosting fee for the casino.

However, that figure is far lower than the $100 million the city wanted according to a revenue-sharing proposal with the province.

Ford attacked Premier Kathleen Wynne saying that “It seems no deal is good enough for this premier. The fact is she simply doesn’t want a casino, at least not in Toronto.”

However, Wynne responded saying “I don’t think this is a personal debate between me and any other politician in the province. I think this is about a principle, which is municipalities should be able to make this decision.”

Peggy Calvert of No Casino Toronto was delighted with the outcome, “We could only hope way back when that this would be the outcome, and the fact it is the outcome, we are ecstatic, we couldn’t be more ecstatic.”

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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