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Anyone who follows the news is well aware that the coronavirus has no regard for political borders or boundaries when it comes to impacting economic systems. The case of the Caesars Windsor Casino in Ontario is a prime example of this.
The casino has been shut down for nearly five months now, and there is no clear indication of when it will reopen. The financial repercussions of this closure are likely to be felt by the entire community of Windsor, with losses amounting to millions of dollars.
Latest estimates of the Caesars Windsor shutdown costs
Typically, the city of Windsor receives dividends from the Ontario Lottery and for hosting Caesars within its boundaries. However, this year, due to the closure of the casino, the city anticipates receiving more than 6 million CAD (approximately $4.41 million US dollars) less than its initial projection.
Not only will the city lose out on gaming revenues from the province, but the shutdown will also result in thousands of former casino workers facing a loss of income.
Other agencies in Windsor have joined forces to assist laid-off casino workers by providing essential items such as food and hygiene products. Moreover, the Canadian government has taken a more assertive approach in providing public relief, granting numerous citizens up to 2,000 CAD per month when they are required to stay at home due to government directives.
While those measures will undoubtedly alleviate certain economic challenges in Windsor, the city is bound to experience a decline in tourism, which is another negative consequence of the casino-related economic loss.
Additionally, it is anticipated by city officials that approximately 5 million CAD in transport revenues, 1.5 million CAD in parking revenues, and approximately 1 million CAD from decreased utilization of the airport and tunnel will be lost. Although casino patrons are not solely responsible for generating this income, they do contribute to a certain extent.
City officials appear to be cautious about increasing property taxes to compensate for deficits. This could be a prudent decision considering the significant presence of casino employees in the region. The expression “trying to squeeze blood from a turnip” might be applicable in this scenario.
The absence of any glimmer of hope intensifies the gravity of the situation, as there is currently no specified timeframe for the casino’s reopening.
Stage three may or may not include casino gaming
It is uncertain when the casino will reopen, but one thing is clear: it will not do so until Ontario advances to the next phase of its reopening plan. Presently, the province is in its second stage.
The provincial government has provided unclear guidance regarding the inclusions and specifications of the third stage. Any announced policy thus far has not explicitly addressed casinos.
It can be inferred that certain restrictions on indoor gatherings and restaurants might also be applicable to casinos. These restrictions include:
- Mandatory contract tracing
- Requirements for social distancing
- Reduced capacities
- Revised: Updated sanitation procedures
Even if Ontario progresses to stage three and permits Caesars to reopen under certain limitations, it does not guarantee that Michiganders can resume visiting the casino. This is due to Canada’s ongoing enforcement of a rigorous 14-day quarantine for individuals coming from the United States.
Windsor, similar to Detroit, will experience the consequences of its commercial casino shutting down this year. The extent of these consequences will be determined by the duration of the closure.
This statement is a bit vague. Could you please provide me with the original statement that needs to be rewritten?
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