First Capital not a fan of casinos

First Capital Realty sent a letter yesterday to the Mayor and members of the Executive Committee of the City of Toronto. In it, Dori J. Segal, president and Chief Executive Officer writes; “We strongly urge City Council to reject the resolution for a casino. It is very important that both the OLG and the City are completely transparent and compliant with Provincial legislation and regulatory policy with respect to decisions about a casino in Toronto.”

Read the letter below:


Dear Mayor and Members of   the Executive Committee,


I am writing to convey First   Capital Realty’s serious concern about the conditional resolution proposed by   the Executive Committee for a vote on a casino at the next City Council   meeting. The proposed conditional resolution does not comply with the   requirements of Regulation 81/12, Requirements   for the Establishment of a Gaming Site.


Regulation 81/12, which   replaced the referendum mechanism, is intended to give City Council control   over the casino approval process! A vote under   Regulation 81/12 is Council’s only mechanism to approve a casino.


If Council votes yes to a   resolution under Regulation 81/12, it will no longer have any say whatsoever   in whether or not a casino will be established in Toronto. OLG will not be   bound by any conditions that Council attaches to a resolution supporting a casino   – OLG will merely “consider” those conditions. Moreover, under   Regulation 81/12, the City is not permitted to withdraw or alter its vote in   support of a casino if OLG does not comply with the City’s conditions. In   fact, even City staff in its report expresses concern and says a conditional   resolution is “not specifically contemplated in the Ontario Lottery and Gaming Corporation Act”   and is “unprecedented”.


We strongly urge City   Council to vote NO on the proposed resolution for a casino. A vote YES on a   conditional resolution for a casino does not comply with Provincial   legislation and First Capital Realty is prepared to take all necessary steps   to challenge that outcome.




Dori J. Segal
  President & CEO
  First Capital Realty Inc.


You might also like