Is Problem Gambling a Leading Cause of Personal Bankruptcy in Brantford?
I am often asked if problem gambling increases the personal bankruptcy rate in Brantford, Ontario due to the Brantford Casino. Our firm, Hoyes Michalos & Associates Inc., did a study of all of the people who have filed personal bankruptcy or a consumer proposal with us over the last few years to determine if the casino has had an impact on the bankruptcy rate in Brantford. Less than 1% of our debtors listed gambling as one of the causes of their financial difficulties. This is a lower rate than we observed in Kitchener (1.44%), Toronto (2.31%) or Windsor (2.44%) where we also have offices. Based on my discussions with the people in Brantford who use our services, there are not a significant number of Brantford residents that go to the casino on a regular basis. It appears that most of the players at the casino are coming from other cities. We also analyzed the total number of bankruptcies in Brantford since 1991. Despite a steady decline in unemployment in Brantford since the opening o
