Caesars Windsor Widens the Municipal Budget Hole by CA$29 Million
After four months of the shutdown, Caesars Windsor is welcoming back visitors, eager to try their luck at one of the games. However, it is estimated that the period of closure has, so far, cost the City Council CA$29,7 million of annual revenue.
For four months, vital areas of business and commerce remained closed across Ontario, in an attempt to enforce social distancing and curtail the spread of COVID-19. During this period, popular facilities such as Caesars Windsor, Enwin Utilities, Windsor International Airport and Detroit-Windsor tunnel have remained shut.
The Cost of the Shutdown
Four months following the lockdown, the cost of shutting down the economy is becoming apparent. Windsor City Council projects losing over CA$36 million in total lost revenue during 2020. The city has had to tighten its belt and, so far, has placed CA$15,4 million aside to meet safety and security expectations of the community.
The new health regulations aimed at stemming the tide of the pandemic have also created an additional cost for the municipal budget. According to mayor Drew Dilkens, the reality is exceeding the expectations regarding financial losses. As a result, he has sought direct support from the provincial government to bridge any budgetary gaps.
All the Ontario city mayors will be conducting a conversation in this regard to figure out how best to address the current situation.
Caesars Reopens, But Only Partially
Caesars Windsor is the local powerhouse of the economy, generating both municipal revenue and supporting various charitable projects. The casino is also one of the primary employers in the region, providing stable jobs within the resort for scores of locals.
Under level three of the current reopening plan, which took effect on 18 July, all land-based casinos across Ontario have been reopened. However, table games remain banned, and patrons can only play slots games for the time being.
On the other side of the border, MGM Grand Detroit Casino is also preparing to swing open its doors once again. The casino has implemented numerous safety protocols that will protect both its staff members and all the patrons from any exposure to the virus.
With the gradual reopening of the Canadian economy now in full swing, it is expected that the majority of land-based casinos across the entire country should be up and running by the beginning of September.