Gateway Casinos & Entertainment has concluded an agreement with the Ontario Lottery and Gaming Corporation to take over six small casinos in the southwest of the province.
British Columbia-based Gateway, Canada’s largest commercial operator, paid OLG $200 million for the 20-year management agreement?an investment that’s expected to serve as a springboard for Gateway’s development of a much larger casino in the city of London just north of the U.S. border.
Carrie Kormos, the company’s senior vice president of marketing and communications, characterized the London project as “a major gaming and entertainment property, a significant investment and, in fact, our largest development in Ontario.
“While we’ll have more to say in the coming weeks and next month,” she added.
The six venues covered by the agreement include a casino in Point Edward and slot halls in Hanover, Woodstock, Dresden, Clinton and London.
Gateway’s newest casino, the $25 million Cascades Casino Penticton, recently celebrated a grand opening in British Columbia, joining 22 other Gateway venues in British Columbia, Edmonton and Ontario. The company employs more than 5,200 people across a total portfolio comprising more than 8,400 machine games, 248 table games, 272 hotel rooms and 54 restaurants and bars.
