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Niagara Falls Casino Loses 38% in Value

Because the Province of Ontario mulls creating new casinos a report shows that the existing facilities – which includes Fallsview Resort in Niagara Falls – have observed their valuation drop substantially.

The Niagara Falls casino has declined by 38 % in value, or $173 million, according to figures from the Municipal Property Assessment Corp., overseen by the provincial government. The drop has had an effect on the Niagara Falls spending budget, as well.

The Toronto Globe and Mail reports five Ontario casinos have lost practically $260-million in valuation.

 
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