A partnership between gaming developers Great Canadian Gaming Corporation and the Clairvest Group have been awarded a licence to operate and develop four casino properties in Toronto.
The facilities, all owned by the Ontario Lottery and Gaming Corporation and known collectively as the West GTA bundle include: Casino Brantford, the slots at Mohawk Racetrack, the slots at Flamboro Downs and the slots at Grand River Raceway.
Under the terms of the deal, Great Canadian will own 55% of the partnership and run the operations, while Clairvest, a private equity firm, will hold the remaining 45%.
As a result of this award, the partnership will acquire all the gaming assets in the West GTA Bundle and will enter into leases for each of the facilities. The deal also gives them the exclusive right to operate the facilities for a minimum of 20 years.
In total the facilities comprise over 2,500 slot machines, approximately 60 table games, employ more than 1,400 staff, and generated approximately $450m in gross gaming revenue in the 2017 financial year.
This latest deal follows a similar award of the rights to operate the East GTA bundle of properties (Woodbine racetrack in Toronto, Ajax Downs and the Great Blue Heron Casino in Port Perry) to a consortium led by Great Canadian Gaming Corporation and Brookfield Business Partners LP in August.
In a statement announcing the award, Great Canadian Gaming’s President and CEO Rod N. Baker said: “Being awarded the West GTA Bundle is a true milestone for Great Canadian and the Partnership. We thank OLG for their confidence in our company and for providing us the opportunity to showcase and apply our gaming, racing, hospitality and development expertise to the selected properties.”
Jeff Parr, Co-Chief Executive Officer and Managing Director of Clairvest Group Inc added: “We are thrilled that OLG has selected the Partnership as the service provider for the West GTA Bundle. Together with Great Canadian, we are confident in our ability to deliver a unique and spectacular gaming and entertainment experience at the four properties within the bundle.”
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