OLG SIGNS 20-YEAR CASINO OPERATING AND SERVICES AGREEMENT WITH GATEWAY CASINOS & ENTERTAINMENT LIMITED FOR NORTH GAMING BUNDLE ASSETS
TORONTO, ON – Ontario Lottery and Gaming Corporation (OLG) has signed a 20-year Casino Operating and Services Agreement (COSA) with Gateway Casinos & Entertainment Limited (Gateway). Under the agreement, Gateway takes over day-to-day operations and the assets of the North Gaming Bundle, effective today.
The North Gaming Bundle includes:
· OLG Casino Thunder Bay
· OLG Casino Sault Ste. Marie
· OLG Slots at Sudbury Downs
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). The proposed new facilities will be subject to required approvals.
On December 13, 2016, OLG announced it had selected Gateway as the service provider for the North Gaming Bundle. Since then, OLG and Gateway have been working towards concluding a Transition and Asset Purchase Agreement and entering into the COSA.
OLG has worked with Gateway to help ensure that transferring employees have a smooth and seamless transition. This includes the requirement for Gateway to retain transferring employees for a period of no less than 12 months in their current position and geographic location, and to provide eligible employees with benefits and a registered pension plan.
At more than $2.2 billion annually, OLG provides the Ontario government with its largest source of non-tax revenue. Modernization helps OLG provide more money to Ontario for key government services.
Gateway Casinos & Entertainment Limited (Gateway) is the largest and most diversified gaming company in Canada. Operating in British Columbia, Edmonton and Southwestern Ontario, Gateway has over 5,200 employees and operates 23 gaming properties with 248 tables, over 8,400 slots, 54 restaurants and bars and 272 hotel rooms. As the selected service provider in Northern Ontario, Gateway will add three properties and two new planned builds to the portfolio when fully implemented.
Gateway is undertaking an ambitious growth strategy to dramatically improve the customer experience and attract new customers. This includes the development of proprietary food and beverage brands like Match Eatery & Public House and Atlas Steak + Fish. This year Gateway is celebrating 25 years in the business of gaming and entertainment in Canada. Further information is available at www.gatewaycasinos.com.
OLG is the Ontario government agency that delivers gaming entertainment in a socially responsible manner. 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 helping to build a more sustainable horse racing industry in Ontario. Since 1975, OLG has provided nearly $44 billion to the Province and the people of Ontario. These payments to the province support the operation of hospitals, amateur sport through the Quest for Gold program, local and provincial charities and problem gambling prevention, treatment and research.
All for Here – 100 per cent of OLG’s proceeds are invested in Ontario
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