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Canada – Great Canadian Gaming completes deal for Greater Toronto bundle

By - 25 January 2018

Great Canadian Gaming and Brookfield Business Partners have successfully completed the acquisition of certain gaming assets in the Greater Toronto Area (the GTA Bundle) through their partnership Ontario Gaming for roughly C$170m.

The Partnership has signed a casino operating and services agreement (COSA) with the Ontario Lottery and Gaming Corporation (OLG) to take over the day-to-day operations of the gaming facilities in the GTA Bundle. The GTA Bundle is the largest award by OLG as part of the modernization of its casino operations.

In 2016, its three facilities, OLG Slots at Woodbine, OLG Slots at Ajax Downs and Great Blue Heron Casino, located on the Mississaugas of Scugog Island First Nation lands, generated gross gaming revenue of over C$1bn.

These facilities have a combined total of over 4,000 slot machines, 60 table games and employ more than 2,200 staff. In accordance with the terms of the COSA, the Partnership will have the exclusive right to operate these facilities for a minimum period of 22 years. Going forward, the Partnership intends to undertake an ambitious growth strategy to enhance the guest experience. This modernization and development (subject to approvals) of the facilities is intended to include enhanced gaming offerings and integrated property expansions that will incorporate leading world-class amenities such as state-of-the-art meeting and event facilities, hotels and premier entertainment venues. The Partnership intends to work closely with stakeholders as it enhances and transforms the properties located in the GTA Bundle.

Great Canadian’s President and CEO Rod Baker, pictured, said: “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.”

Cyrus Madon, CEO, Brookfield Business Partners, said: “We will bring our capabilities in operations, development and retail to the Partnership to deliver expanded gaming options and premier entertainment that will enhance the experience of patrons and contribute to the surrounding communities.”

In late December last year, Great Canadian Gaming and Clairvest Group were selected as the successful proponent by the Ontario Lottery and Gaming Corporation to operate certain gaming facilities in the West Greater Toronto Area (the West GTA Bundle). The West GTA Bundle is comprised of OLG Casino Brantford, OLG Slots at Mohawk Racetrack, OLG Slots at Flamboro Downs and OLG Slots at Grand River Raceway.

These facilities have a combined total of over 2,500 slot machines, approximately 60 table games, employ more than 1,400 staff, and generated approximately $450m in gross gaming revenue in fiscal 2017.

The Partnership envisions dramatic enhancements and additions at Mohawk, Flamboro Downs, and Grand River that will create a seamless and integrated experience for the guest for racing, gaming and hospitality, while undertaking a significant top-to-bottom renovation of the Brantford facility.

Mr. Baker added: “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.”

“As a Canadian company that has a long history of responsibly and successfully operating gaming and racing facilities across Canada, we are excited to undertake what we feel will be a dramatic transformation of the entertainment experience at these four properties, for the teams that work there, and the communities they reside in.” Mr. Baker continued. “With our longstanding role in horse racing, we appreciate the significance and importance of the harness racing industry provincially, but more particularly, across the West GTA region. We’re eager not only to embark upon our exciting development plans for the four properties, but also for the role we feel we can play in working with track operators, racing stakeholders, OLG, the provincial government and other interested parties in sustaining the industry and growing the number of jobs the industry supports.”

Jeff Parr, Co-Chief Executive Officer and Managing Director of Clairvest Group, 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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