The only place in Canada that will ever get another team would be a second Toronto franchise. Things are completely different now from 15 or so years ago when Winnipeg got their team back. There is no league-wide benefit to putting another team in Canada because it does nothing to increase HRR over the baseline of what an American franchise might. The reason is, US TV rights fees for sports have gone through the roof in the last decade. The Canadian national deal is big money, but putting a team in Quebec City, or Saskatchewan, or Moncton will have a negligible effect on it. Where as, adding an American team in a major metro market that they have yet to penetrate will make a big difference on the national footprint that they can sell to broadcasters. Look at the recent TV deal as an example of this.
Putting a team in a Canadian city generally doesn't create as many new customer as putting a team in a territory that isn't already saturated. For example, Ottawa would have never gotten a team if the league wasn't run with short-term tunnel vision at the time, where their primary concern was the 50 million dollar fee, rather than any long-term business growth. If Ottawa never got the Senators, there is next to no chance they would ever get an NHL team because their territory would already be saturated with hockey fans, mostly Canadiens and Leafs fans. Where as, putting a team in Vegas created six figures plus worth of brand new fans.
A second GTA franchise would not only attract a massive franchise fee, it would give the Canadian broadcasters a reason to pay more for the national deal because there would be double the chance of a GTA team making the playoffs, and there would also be a chance for a GTA team to progress beyond the first round. Rogers lost their butts on the deal, partially because of Toronto's lack of playoff success. Being able to demonstrate that there is more than one team that can draw Canadians in the playoffs could help them sell a more expensive rights deal.
