Olg Casino Sold

Frequently Asked Questions Central to Gateway's success has been the development of exciting proprietary casino brands and signature restaurant brands that have dramatically improved the gaming customer experience while generating important, new customer segments among non-gamers.||||||||| Gateway has signed a business transition and asset purchase agreement with OLG on December 12, 2016 and, subject to customary closing conditions, is committed to subsequently signing a 20-year casino operating and services agreement when the acquisition closes next year. OLG conducts and manages gaming facilities, the sale of province-wide lottery games, PlayOLG Internet gaming, the delivery of bingo and other electronic gaming products at Charitable Gaming Centres and is leading the integration of horse racing into the provincial gaming strategy. Ontario needs to modernize gambling because offshore gaming websites, plummeting U.S. traffic and increased competition in American states are taking a bite out of OLG's revenues — almost $2 billion of which goes to the province each year, Godfrey said. The Ontario expansion will bring eleven new properties (nine existing and two planned new builds) to the Gateway portfolio when fully implemented, making Gateway the largest and most diversified gaming company in Canada with properties in British Columbia, Ontario and Alberta. Successive governments have mulled over proposals to build a Toronto casino, well before the Liberals took power in 2003. Private operators will run all OLG facilities, take over 6,000 OLG gaming employees and finance the corporation's expansion from 27 facilities to as many as 29 by 2017-18. Quebec, B.C. and the Atlantic provinces allow their residents to buy lottery tickets online, and OLG also plans to expand private sector involvement, like Alberta and British Columbia. Under the guidance of Gateway Chief Executive Officer, Tony Santo, the Ontario expansion will be led and implemented by a seasoned team of gaming executives based in Ontario. The Crown corporation plans to sell lottery tickets over the Internet and at checkout lanes in grocery and big-box stores, rather than a single customer-service station, said OLG chairman Paul Godfrey. OLG is modernizing to develop a world-class gaming experience for customers. It said the new measures will bring in an extra $4.6 billion over six years, create 2,300 new jobs in the gaming industry and another 4,000 service industry jobs at hotels, restaurants, entertainment and retail industries. But the New Democrats say gambling shouldn't be expanded in a province where so many people have suffered from addiction. In addition, as the service provider for the North Gaming Bundle, Gateway will have the opportunity to build two new gaming and entertainment facilities, one in the N4 Gaming Zone (Kenora area) and one in the N5 Gaming Zone (North Bay). Wynne said Tuesday she wants an update” from OLG officials on the lottery and on apparent confusion surrounding the status of a Toronto casino. TORONTO - Cash-strapped Ontario is placing its bets on a plan to boost gambling revenues that would see a new casino in the Toronto area and lottery tickets sold online and at the local Wal-Mart within five years. A focus on growth and redevelopment will result in Gateway's portfolio having grown to include 29 properties, once the North and Southwest Gaming Bundles are fully implemented.

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