MGM Looking At Toronto For Big Investment

April 18, 2012 Updated Apr 18, 2012 at 5:42 PM EDT

By WKBW News

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MGM Looking At Toronto For Big Investment

April 18, 2012 Updated Apr 18, 2012 at 5:42 PM EDT

TORONTO, ON (WKBW-TV) - The Toronto Globe and Mail is reporting MGM Resorts International is looking to build their first Canadian casino in Toronto. Members from the resorts' development staff met with local officials at City Hall to outline their plans, a investment that could be between $2-6 billion.

Niagara Falls Mayor Paul Dyster says he believes another major casino would be tapping the same market and hurting the ones already established in Niagara Falls.

"if casinos are built in major metropolitan areas it reduces the need for resort casinos at places that provide tourist venues for nearby cities like Toronto," Dyster said.

The news of a major casino resort comes as New York State is looking to legalize casino gaming and the Seneca Nation of Indians are withholding millions in casino revenues to Niagara Falls, Buffalo and the State. Dyster says the lack of revenue is hurting Niagara Falls.

"We simply don't have the where with-all to continue covering for the non-delivery of funds so its starting to impact our programs and economic development in Niagara Falls."

The full article published in the Toronto Globe and Mail can be found here: http://www.theglobeandmail.com/news/national/toronto/mgm-eyes-toronto-for-sprawling-integrated-resort-and-casino/article2404653/