Market Overview

Call Goes Out to Save Toronto Racing, Bang The Book reports


(EMAILWIRE.COM, October 26, 2012 ) San Francisco, CA- The Ontario Lottery and Gaming Corp. could boost its profit by combining teletheaters and sportsbooks, says a leading writing in the Toronto Star. The corporation could even give a cut of the revenue to the provinces horse racing businesses, helping them survive.
Dave Perkins makes his argument for how gambling can be modernized. It wouldnt be too complicated to ensure the future of horse racing and keep its 55,000 jobs, Perkins wrote in the Star.

Open a sports book in each racetrack and casino, allow single-game sports betting its arrival is inevitable and then get out of the way of the tourists, he said. You wont be able to find a hotel room on March Madness or NFL weekends.

Perkins maintained that his idea would preserve racing and help the OLGs push to modernize.
Those who run gambling in the province they always want to dump the bl and call it gaming seem hell-bent on destroying horse racing while expanding bingos and dropping a big new casino in downtown Toronto, he said. Thats a terrible trade for our town.

Perkins also pointed out that the deal with bingo operators allows them to keep 47% of their revenue.

So they will pull the plug on $1.1 billion in annual revenues from racing commencing April 1 and hope to make it up with a casino and with licensed bingos, many of them owned by our old pal Larry Tanenbaum, he wrote. Mind you, bingo proprietors retain 47 per cent of the profits. Naturally, because 20 per cent of one is too much but 47 per cent of the other is just right, we now see misdirection advertisements about how good bingo is for charities.

He added: Yes, once again, theyre doing it for the kids.

A full-day kindergarten for children was the product of a Liberal mandate. A $3 billion project like what is proposed by Oxford Properties would shift money spent on Ontario companies to the state.

Toronto citizens have spoken up and many said they werent interested in a casino, but you can hear the bulldozer starting up in the background, Perkins wrote.

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Bang The Book Delaware

Harold Abel Elwood


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