View Single Post
Old
02-16-2013, 09:05 PM
  #94
Evil Doctor
Army Recruit
 
Evil Doctor's Avatar
 
Join Date: Apr 2009
Location: Cambridge, ON
Country: Canada
Posts: 2,179
vCash: 500
An interesting Global Spectrum/Casino link...

Confusion over HECFI operators' casino take

Quote:
Just before the special casino meeting began, Farr held a news conference relaying opposition to a downtown casino by Global Spectrum and Live Nation, the private operators of Copps Coliseum and Hamilton Place.

In response to an email from Farr, Global Spectrum said a downtown casino would “fundamentally kill” the market for entertainment in the core and directly compete with their business. Global Spectrum also warned a casino could affect its agreement with the city to help relieve the millions in subsidies the city paid each year to keep its entertainment facilities afloat.
Quote:
Global Spectrum vice-president Frank Russo refused to speak to The Spectator Friday. Instead, his office said all inquiries should be directed to Bratina’s chief of staff, Peggy Chapman.

In an email distributed to councillors Friday afternoon — again from Bratina’s office — Russo said any venue larger than 1,200 seats would hurt its business. The management agreement between the city and Global Spectrum/Live Nation states the city cannot support any entertainment venue larger than 3,000 seats.

“Neither Global Spectrum nor Live Nation have any opinion with respect to a Casino per se,” reads the letter. “Our remarks were only in the context of opposing a competitive entertainment venue that we understood may be a component of an overall casino development.”
I still think a downtown casino would be a net benefit to Global Spectrum, but I think I get where they are coming from. A new entertainment venue would be very much like having both an AHL and OHL team in which additional competition will only cannibalize the market.

Evil Doctor is offline