Closing casino Niagara comes with a hefty price
From the Niagara Falls Review:
If the Liberal government decides to close Casino Niagara, it will likely cost them tens of millions of dollars.
Canadian Niagara Hotels, which owns the building Ontario Lottery and Gaming Corporation leases for the original Niagara Falls casino, said Thursday the 15-year lease extension signed in 2010 has no early-exit clause.
That means if Liberal Premier Dalton McGuinty decides to shutter Casino Niagara, which opened in 1996, the government will still have to pay out the full cost of the lease, which expires in 2025.