Business

Great Canadian Gaming Signs Definitive Lease with OLG

Great Canadian Gaming Signs Definitive Lease with OLG

The Great Canadian Gaming Corporation (GCGC) has announced a that is has signed definitive lease agreements with the Ontario Lottery and Gaming Corporation (OLG) to allow it to continue its slot operations at the company’s Georgian Downs and Flamboro Downs racetrack facilities.

Great Canadian Gaming Signs Definitive Lease with OLG

The agreement means that Great Canadian Gaming can continue operating slots for the next five years.

According to the new agreement OLG will lease slot machine areas at the Ontario Racetracks for a further 5 years commencing April 1st 2013. Until now GCGC has been operating under signed non-binding letters of intent which replaced the previous site holder agreements that expired on March 31st, 2013.

OLG’s President and CEO, Rod Phillips, said, “We are pleased to have reached an agreement with Great Canadian for both their Flamboro and Georgian sites. This reflects our longstanding and positive relationship with Great Canadian.”

Rod Baker, the President and CEO of GCGC, expressed similar sentiments saying, “We are also pleased to have now entered into these definitive agreements with the OLG. With definitive lease agreements now signed, we can look forward to the next chapter for our properties in Ontario and further developing our relationship with the OLG as the gaming industry in Ontario continues its evolution.”

Business

A proud native of Montreal, James discovered his passion for the business world while studying journalism. He has written for a number of Canadian financial newspapers. Though still in his 30’s, James has seen a number of economic bubbles come and go. He followed the social bubble and thinks mobile is a revolution and not a bubble.

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