Filmport or Casino

For many years a casino has been sought by those holding the reigns of power in the portlands.

When the filmport was first annouced, my gut feelings told me that they are gunning for a casino. You see, first I looked at the math. Toronto Film Studios grossed somwhere around $9 million five or so years ago, according to a now departed property manager of TFS. This amount is not big money when you consider it is a gross number. Movie studios, contrary to what most people believe, do not make big money. He also said that TFS was profitable because it picked up 629 Eastern Ave. for a song from the receiver.

When one considers the $275 million dollar price tag to build the filmport, it’s hard to substaniate the project’s feasibilty. Because the numbers were so way off the chart I questioned the real purpose of the development. In addition the litigious stonewalling publicly diclosing the lease added to my suspicions. I heard that, within the lease, if the filmport does not fly that within a certain number of years this facility can be used for other things.

The next discerning thought was a studio is just a big room exactly like the floor of a casino.

Furthermore the filmport is going to be built in phases. The second phase is to include office buildings which could be future hotel space.

Numbers don’t lie, unlike the people who hold the reins.

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