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Howard Stutz
 

MGM Resorts partners with Canadian real estate developer on potential Toronto casino

4 February 2013

LAS VEGAS -- MGM Resorts International entered into a partnership with a Canadian real estate developer to bid on, build and operate a hotel-casino complex in downtown Toronto.

In a statement, MGM Resorts Chairman Jim Murren said the 50/50 joint venture with The Cadillac Fairview Corporation Ltd. gives the Las Vegas-based casino giant a partner with extensive Canadian development experience.

“In Cadillac Fairview we are partnering with the industry leader in developing high quality properties across North America and a company with whom we share a common vision for the development of an iconic integrated resort in Toronto," Murren said.

MGM Resorts, along with Las Vegas Sands Corp. and Caesars Entertainment Corp., are exploring a potential casino development in Toronto. The Ontario Lottery and Gaming Corporation has selected Toronto, Canada’s largest city, for a single casino destination. But the concept still needs the approval of city leaders and residents.

MGM Resorts preliminary design and scope for the project include a permanent Toronto Cirque Du Soleil attraction as well as a partnership with a noted Toronto restaurateur to develop new dining concepts for the integrated resort.

"The City of Toronto staff report has identified how such a project will create thousands of jobs, contribute much-needed revenue to the city and provide Toronto with an iconic landmark to attract millions of tourists," said Cadillac Fairview CEO John Sullivan.
MGM Resorts partners with Canadian real estate developer on potential Toronto casino is republished from Online.CasinoCity.com.