Huge news came out of Canada recently after casino and hospitality operator, the Great Canadian Gaming Corporation, otherwise known as TSX:GC, declared they were moving forward with plans for a premier casino resort to be developed on a large scale entertainment site. The recently approved development, Durham Live, in southern Ontario is set to be the location and many are already discussing the benefits of the move.
Durham Live, which is being developed by Triple Properties, is very likely to turn the area into a major tourist destination, while also creating over 10,000 jobs for locals. In addition to the Durham Live Casino it is said there will be a five-star hotel, a convention centre, a boutique hotel, an office tower, film studios, a waterpark, restaurants, cinemas and much more.
On the casino front there was a bit of a battle in play as both Casino Ajax which is located next to Ajax Downs and Durham Live were going head to head for the sole gaming facility. Provincial rules state that only one casino can operate in Pickering, Whitby and Ajax, so if one was to open in Whitby the Ajax Casino would therefore have to close. The new resort in the Durham region is scheduled to be active at the back end of next year and this will see Casino Ajax members transferred over.
It was reported that the town of Ajax had wanted the decision on a casino at Durham Live delayed until the provincial elections had been completed citing that it would be a bad decision to close of on the most successful casinos in North America. Since operations began back in 2006 it’s believed that the town of Ajax has received revenue exceeding the $60 million mark from slot games alone.
David Pickles, the councillor of Pickering, recognised that Ajax had done well by Ajax Slots but that the province and OLG wanted to “go with an improved business model and a competitive process.” This will certainly be the case with Durham Live as it has the capabilities to expand the horizons of many industries, including that of gaming. Pickles personally believes that they could be looking at up to $25 million per year in financial benefits, with around 15,000 jobs created when operations begin.
Durham Live Casino itself would provide its own unique benefits to the area too. There are likely to be around 2000 employees required, which means that 1700 new jobs will be created for locals in and around the area. So, not only will the whole project bring in huge amounts of revenue to the region, it will help to get people back into work or enable them to go in a different direction in their career.
Casinos and entertainment venues have long been a great source of revenue, and one cannot ignore the vast contribution made by PartyCasino and other online casino sites which keep on increasing year on year. It is of huge benefit to the areas and the money generated is then often pumped back into improving the city or district as a whole. Durham Live Casino will prove to be a great addition to the area, not just through the revenue, but the other benefits that come with it, which includes tourism and employment.