Great Canadian Gaming and Brookfield win major Toronto casinos contract
Great Canadian Gaming Corp and Brookfield Business Partners have won a joint contract to run three major Toronto casinos, a trio of centres that generate a collective $1bn in revenue each year.
Ontario Lottery & Gaming Corp has selected the two established operators to run OLG Slots at Woodbine, OLG Slots at Ajax Downs and the Great Blue Heron Casino in Mississaugas of Scugog Island First Nation.
The pair are set to invest close to $1bn to add more gaming platforms and other facilities including hotels and conference halls, with the deal set to run for a minimum of 22 years.
“We thank OLG for the award of the GTA Bundle on behalf of the partnership,” said Rod N. Baker, Great Canadian’s President and CEO.
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“Great Canadian has a long gaming history in Canada and Ontario and in collaboration with OLG and our partners to deliver gambling responsibly. We look forward to this historic opportunity to service Canada’s largest metropolitan region.”
Both companies enjoyed significant share rises, with Brookfield’s recording a 7.8% rise in the hours after the partnership was announced.
Cyrus Madon, its CEO, added: “We are excited to have been selected by OLG to operate the GTA Bundle.
“We look forward to working closely with Great Canadian. We will bring our capabilities in operations, development and retail to the Partnership to deliver expanded gaming options and premier entertainment.”