This summer, Toronto will host the opening of Canada's largest casino resort, according to developer Great Canadian Entertainment (GCE) on Wednesday.
In the city's Etobicoke neighborhood, the $1 billion Great Canadian Casino Toronto is currently being built next to the Woodbine Racetrack. According to the press conference, the 33-acre resort will include a contemporary "Vegas-style" casino, a 400-room hotel, a 5,000-seat live entertainment venue, and numerous on-site dining options.

Until the new business opens its doors, the current Casino Woodbine will operate normally.

"We see this as an unprecedented opportunity to introduce an entirely new, world-class experience in Canada that will bring together the best in casino gaming, exceptional live entertainment, dining, and accommodation in one very special place,” said Matthew Anfinson, CEO of GCE.

Anfinson stated that the business will provide more information about the property's features and opening in the upcoming weeks.

Expansion of gambling in Toronto

The largest casino operator in Ontario, the most populous province in the nation, is GCE, formerly known as Great Canadian Gaming Corp. until its rebranding last April. It has been owned by US private equity behemoth Apollo Global since September 2011.

The business is responsible for the recent, extensive expansion of gaming in the region. In July 2021, it will open the $500 million Pickering Casino in the nearby town of Pickering. The adjacent hotel was inaugurated by GCE in January of this year.

Since 2005, Toronto had not seen a casino opening until The Pickering Casino. It serves as the focal point of Durham Live, a sizable new multibillion-dollar entertainment complex that also features a year-round indoor waterpark, a 16,000-seat amphitheater, movie theaters, a film studio, three five-star hotels, fine dining options, and a shopping center.

The Pickering Casino's 2,500-seat arena will open on April 26 with a special performance by Bryan Adams, the country's top adult-contemporary soft rocker, according to a separate press release from GCE this week.

Racetrack Not Impacted

While this is happening, the city receives about $16 million annually from gambling at the current Casino Woodbine. The new construction is anticipated to generate between $26 and $31 million in revenue annually. That is based on estimates from 2018, the year that city officials approved the project.

The racetrack, which has been in operation since 1956 and is owned by a different entity, won't be replaced by the new casino complex.

An 8,000-seat soccer stadium and training facility are planned to be built on some of the racetrack's land, according to the owner Woodbine Entertainment. York Utd of the Canadian Premier League may move into this.