The New Brunswick government announced recently that the province's first, and only, casino will be built in Moncton. The casino will be located in the Magnetic Hill area. The provincial government confirmed that Sonco Gaming New Brunswick Ltd. will build the gaming facility, a 128-room hotel and an entertainment venue that will seat 1,500. The $90-million project is expected to create 770 full-time equivalent jobs during construction and about 400 full-time jobs when the facility opens in 2010. The government expects to receive about $25 million a year in gambling revenues from the operation. New Brunswick will become the ninth province to have a casino.
There already is a lot of controversy over this project. Although a lot of business and some people from the area are enthused, however, there are others that point out the social cost of gambling and casinos. There is also mixed opinion on the proposed location. Will the casino help the New Brunswick economy? Will the social costs of this casino outweigh the economic benefits? We will find out soon enough.