Woodbine Casino Expansion 2018
- From concept renderings, ideas for the Woodbine Racetrack Development have evolved into rezoning and site plan approval submissions to the City of Toronto from the Woodbine Entertainment Group. The future of the 684-acre site has been highly discussed, with early concepts considered by the Design Review Panel in late 2017.
- Dec 10, 2018 In the meantime, the new station in the Woodbine-Highway 27 area is expected to draw approximately 14,700 individuals using it regularly for their commute. Casino Expansion Well on Its Way. Recently the Metrolinx board had to consider ways of approaching this new project and discussing the strategies for its future development.
On Friday, 31 September, the Great Canadian Gaming Corporation announced that its subsidiary, One Toronto Gaming (OTG), had received the necessary municipal zoning approvals from the City of Toronto to offer table games at Casino Woodbine—the previously slots-only casino attached to the fabled racetrack.
Over the years, the casino industry has considerably evolved in Toronto—which has always been a popular gambling city—and across the Ontario province. Unlike the British Columbia casino industry, Toronto doesn’t have as much scope or influence. However, with the launch of live table games, it is becoming evident that Toronto is beginning to catch up, and there are a lot of things to expect as Toronto-based casinos begin to develop.
Woodbine Casino Expansion 2018 News
While British Columbia casinos claim their revenue is declining due to the introduction of anti-money laundering rules and regulations, it seems like Toronto and Ontario are beginning to wax stronger. As a result of the approval, the Woodbine casino has formally launched 50 “live dealer” tables alongside around 200 electronic tables and ‘stadium’ style gaming positions that can accommodate a further 100+ positions.
Woodbine Casino Expansion 2018 News
On August 30, 2018, the Company announced the gaming expansion at Casino Woodbine on its second level, which introduced 50 table games and over 300 slot machines, including electronic table games. With one day left until the City of Toronto votes on the proposed Woodbine casino expansion, a community and labour coalition has made clear that unless it is made a signatory in a legally binding community benefits agreement, the northern Etobicoke community of Rexdale is not going to give its support to the project.
According to OTG, it expects to include an additional 50 live tables and over 300 additional slot machines – bringing the property’s total slots count to around 3,000 – in the fourth quarter of this year, increasing the available jobs in the province.
“This is another important achievement for One Toronto Gaming, made possible by the hard work from our team in collaboration with stakeholders including OLG, our regulators, and the City of Toronto,” stated Rod Baker, the President and Chief Executive Officer of One Toronto Gaming in a report.
“This not only is a significant step in the expansion and overall development of Casino Woodbine, but this additional gaming amenity has generated over 400 new jobs and will create another 300 by the end of 2018.”
Earlier this year, Toronto City Council approved the planned expansion of Woodbine expected to be completed in 2022. The proposed casino expansion at the Woodbine Racetrack would bring in about $30 million in annual revenue for the city and equally provide hundreds of jobs to local workers.
Interim city manager Giuliana Carbone noted that in 2022, when the facility is fully built-out, the city can expect to receive $26 to $31 million a year, according to estimates from the province's Ontario Lottery and Gaming Corporation (OLG). Also, by the end of 2022, the new facility is expected to provide roughly 3,700 new jobs and Carbone reported that Ontario Gaming plans to ensure “at least half of the employees will be working full-time after two years of operation.”
With the successful addition of table gaming in the casino, it’s almost certain that residents might not have to wait that long to begin witness significant changes in the area.
After posting an impressive second-quarter results, it safe to assume that Great Canadian Gaming is taking giant steps to become a dominant force in the Canadian casino world. However, this is one of the key developments for the future of the industry and as a result, it is going to open the door for a lot more interest in casino gaming—hence bringing more revenue to the area and helping the industry grow significantly.