The London Eye is owned by Merlin Entertainment (though was built as a Millennium project which was to be constantly disassembled and reassembled in different cities across the UK on a rotating basis), Singapore Flyer went thought huge embezzlement issues a decade ago and is now owned by Straco, High Roller is owned by Caesars, Ain Dubai is owned by Dubai Holding...
I've got no issue with a private company building one on Toronto's waterfront, but in no way should they receive any public largesse. If they feel they can do it with no government assistance whatsoever, go for it. I highly doubt that's the idea though.