OLG to Choose Ontario’s New Gambling Operator

For a while now, the Ontario Lottery and Gaming Corp. has been reviewing private organizations’ proposals to take over the province’s gambling operations. Ontario is looking to further expand its gambling industry. The province already offers some the best gambling facilities in the world with both national and international gambling tourism being a major source of income. Of course, with a more efficient and innovative company in the mix, this can be taken to the next level. That’s the reason why the OLG began its thorough search to find an external private operator to take the reigns of the province’s gambling activity. This is of course a huge deal, literally. The Ontario market is enormous and any company that can use the OLG springboard to jump in, will be able to reap a lot benefits, not to mention revenues. So, as companies were fighting for the top place on the leaderboard, OLG was closing the door to certain offers and today has its sites on 3 major contenders: Caesars Entertainment in the United States, Genting BHD from Malaysia, and Canada’s own Brookfield Asset Management.

The Ontario Lottery and Gaming Corporation will announce the lucky operator in the coming months.

What the Winner Gets

The organization to get a positive answer from OLG will have a lot to celebrate. For a start, OLG will pay the company an annual sum of CAD72 million for 22 years, as well as 70% of the province’s gambling revenue. And it gets better. The lucky operator will also gain control over the Woodbine Racetrack, Ajax Downs, and the Great Blue Heron Casino in Port Perry, and will have the option of developing a new major gambling hub in the province.

But Everyone’s a Winner

Woodbine’s official spokesperson John Siscos commented on OLG’s actions, saying, “The OLG’s modernization plan is the catalyst for Woodbine Entertainment to unlock the value of the Woodbine lands to sustain horse racing on our 680-acre site and bring real economic development to Rexdale.”

In Conclusion