Casino Niagara 
Region Prospers

Casino Deals Niagara Region A Winning Hand

Date:
Dec. 1, 1997

Niagara has entered an economic boom, never before seen in this area, financial analysts say.

In fact, the region is capable of achieving the fastest economic growth in Ontario within the next five years, says Don Davidson, manager of Niagara business banking for the Royal Bank.

"Compared to development activity over the previous five years, it's apparent the Niagara region is experiencing an economic renaissance."

From 1990 to 1995 there were only two new job-creation developments (over $2 million) to hit the region.   By contrast, since the beginning of 1996, 26 major developments are in the works and another 13 are being seriously considered. Included in the major projects is the permanent Casino/Gateway Project, slated for construction in three to five years, as well as the twinning of Fort Erie's Peace Bridge and 14 new hotels for Niagara Falls.

According to Davidson, a significant contributor to this revival has been the presence of Casino Niagara.

Casino Niagara has, undoubtedly, created a positive momentum for further economic development and investment, says Gregg Crealock, chair of the Niagara Economic and Tourism Corporation.

"The casino has been the catalyst for a surge of new interest in Niagara as a tourist destination and investment location."

Equally important is the casino's role as a year-round attraction and travel motivator. With an estimated 10 million visitors to the Niagara Falls, Ontario casino since opening Dec. 9, 1996, it's anticipated the region could increase the number of annual tourists from the historically 14 million to 30 million by the year 2002.

The casino's support of tourism initiatives throughout Niagara has also been significant. As a key co-operative marketing partner, Casino Niagara's involvement in a host of projects has allowed destination marketers the financial ability to extend reach and impact.

Casino Niagara currently employs more than 3,500 full and part-time people (94 per cent from the Niagara region) and has created 3,000 indirect jobs within Niagara's overall labor market.

"The expenditure of approximately $20 million per month on payroll, supplies and services, most of which goes to Niagara-based companies, has led to new jobs in existing businesses as well as new business development," said former Niagara Regional Chairman Brian Merrett.

Tourism-related businesses which either normally close in the off-season or lay off workers have stayed open and hired extra staff. Hotel occupancy in Niagara Falls increased by 55 per cent in January 1997, one month after the casino opened. Room revenues for the same period were up about 50 per cent over the same period the previous year.