No. The OLG’s projections are misleading and should be carefully scrutinized.
For example, Finance Minister Dwight Duncan boasts that the OLG’s mega casino will provide up to 2,300 net new jobs.(11) The OLG’s business strategy, however not only includes a mega casino in Toronto but ends the Slots-at –Racetracks program, a successful partnership with the horse racing industry. This will effectively terminate approximately 4, 000 gaming jobs and will jeopardize approximately 55,000 permanent, part-time and seasonal jobs in breeding and boarding horses, running small farms, veterinary and training services, feed and transport, grooming and hotwalking.(12) Toronto’s Woodbine racetrack alone employs 4,800 people.
Finance Minister Duncan estimates 4,000 new jobs will be created in the hospitality, hotel, restaurant, entertainment and retail industries. As noted above a mega casino will have a cannibalizing impact on the local economy and result in a net loss of jobs not a net gain.