Top Menu

Could casino money fund Edmonton arena?

New Edmonton Arena{jathumbnail off}

There’s a $100-million funding gap in the current Edmonton Oilers (NHL) arena plan, and city officials say there’s a painless way to fill it: divert gambling revenues to the project.

Earlier this week the Edmonton City Council passed a funding program for a $450-million downtown arena calling for $100 million from the team, $125 from the city and $125 million from ticket taxes. That leaves a gap of $100 million, and city councilors said they would be asked for provincial help to fill that gap.

But provincial officials are cool to the notion, saying Edmonton could use existing provincial infrastructure funds to pay for the arena. That would delay or scrap projects where money has already been pledged.

A solution seems to be emerging: using provincial gambling proceeds to fill the $100-million gap. The Baccarat Casino will sit next to the new arena and presumably benefit from the increased traffic in the area generated by the new arena. The city sees nothing in terms of revenues from the casino; profits go to the Alberta Lottery Fund. Diverting 15 percent of these revenues would put the funding plan for the new arena over the top.

RELATED STORIES: Edmonton approves Oilers arena deal; Edmonton on verge of arena deal?; Oilers prep Plan B for new Edmonton arena; Alberta premier pitched on Edmonton arena funding; Tensions escalate over new Edmonton arena; Protesters object to Edmonton arena funding; Alberta: We’re open to some sort of Edmonton arena funding; Edmonton, Oilers reach agreement on framework of arena funding deal; Edmonton approves arena funding plan; Edmonton mayor lays out arena funding plan; Report: New arena needs 30-year commitment from Oilers; Complicating factor in Edmonton arena discussions: Northlands; Seat mortgages pitched for new Edmonton arena; City: New Edmonton arena would revitalize downtown; Oilers: No, we’re not moving to Quebec City; Oilers refine arena plan after public meetings; Katz ups arena offer to $200M; city willing to talk; Edmonton: New downtown arena financially feasible Katz: I will spend $100 million on new downtown arena; Edmonton: Cheaper to renovate than to build new downtown arena; Oilers arena zoning hearing delayed; Katz group submits arena application to Edmonton


Sign up for the free weekly Arena Digest newsletter and keep up with the latest happenings! You can sign up here.

We’re on Facebook!

Follow Arena Digest updates on Twitter!

, , , , ,