More than half of the revenue generated at a potential North Bay casino would go elsewhere, a vocal critic of the casino project claims.
Blue Sky Bingo Hall Charities Association spokeswoman Janet Zimbalatti says Ontario Lottery and Gaming Corporation (OLG) figures indicate only 43.6 percent of revenues generated at provincial casinos are spent on costs.
During the past two years, the OLG reports Ontario casinos generated $2.1 billion in revenues and kept 51.4 percent of that as profit.
Zimbalatti says the high profit margin indicates more than half of that $2.1 billion in gaming revenues did not benefit local communities. Instead, she says OLG figures show casinos only spent an average 43.6 percent on operating costs, which she figures are the only funds going to local economies. Even with another 5 percent in gaming profits going to local communities, Zimbalatti says North Bay only gets about $1 million per year from gaming revenues, and stands to lose up to $10 million per year, based on estimated North Bay casino revenues of $20 million per year.
By comparison, Zimbalatti says North Bay bingo operators take in about $3 million annually, and return $1 million via local charitable contributions.
Zimbalatti acknowledges the proposed casino would create many jobs, but says a likely loss in revenues would offset any gains.
She does not estimate how much of casino gaming revenues come from within the local community, versus how much likely casino visitors would contribute.
Zimbalatti recently outlined her opposition to the casino to local officials.
Casino project supporters say many North Bay residents take their money outside the community to other gaming operations.
City officials are considering rezoning two parcels the enable a casino development.
The Crown Corporation wants to build a casino in northwestern Ontario and is considering sites in Sudbury, Sault Ste. Marie, Kenora, and Thunder Bay.
Meanwhile, the Ontario Court of Appeal overturned a lower court’s dismissal of claims against the Ontario Lottery and Gaming Corporation arising from a law clerk’s theft of $1.5 million, which she gambled away in Ontario casinos.
Two estates say the OLG profited from their loss and did not take reasonable steps to stop the law clerk, who is a known problem gambler, from wagering at provincial casinos, while claiming to be an attorney.
The case is Paton Estate v. Ontario Lottery and Gaming Corporation.
