Canada-listed casino operator Gateway Casinos & Entertainment is to take a proactive step towards its plan to construct a casino facility at the Western Fair. The latest news revealed that Canada’s most diversified private casino operator Gateway is on its way to present a ready casino project for massive expansion of the slots-only casino at the fairgrounds. Gateway’s Senior Vice-President Keith Andrews is to give a speech at a council committee meeting, that is to take place next Monday.
Mr. Andrews will reveal more details on the casino project and point out the broad benefits that the new casino facility is projected to bring to the local economy. The move comes shortly after Gateway announced that it is looking for a better lease deal.
Some time ago, Gateway revealed its plans to invest $140 million in building a full-scale casino in London. The casino expansion was supported by many as it was believed to bring additional revenue and create more than 700 new jobs. Gateway picked Western Fair as the preferred site to build a casino. All the discussions regarding the casino expansion were held behind closed doors at city hall. This will be the first public discussion, which is to detail on Gateway’s plans to build a casino at the fair site. At present, fairgrounds offer a number of slot machines. Supposing that Gateway starts implementing its casino plans, the venue is to feature a new gaming center with multiple gaming options and classy dining areas and bars.
Gateway Looks for Better Lease Agreement
Last year, Gateway took over the day-to-day operations of North and Southwest Gaming Bundles, after Ontario Lottery Gaming Corp. (the Crown corporation responsible for the management of the gambling industry in Ontario) recognized the need of modernization of the province’s gaming industry. Among all other things, the Southwest Gaming Bundle includes the slot-only gambling venue at Western Fair District in London. Only a year after Gateway was selected as the new service provider for the two Gaming Bundles, the casino operator is already eyeing a major casino expansion in London.
OLG has an arrangement with the London city hall and the Western Fair District to pay $6 million a year to operate the venue. Here, it is important to mention that with winning the two Gaming Bundles, Gateway took over OLG’s agreement with the city, which is to expire in 2020. However, the casino operator announced its reluctance to pay such a high price to its landlord, which is Western Fair District.
Last month, Gateway announced that a cheaper lease would allow the casino operator to invest more moneъ in the casino expansion, which, on the other hand, is beneficial to the city. Gateway pointed out that the rent at the Western Fair District is overpriced and if the city politicians do not reduce the ground-lease rental rate, the casino operator might re-direct its attention to another place in London. The Canadian casino operator is still hoping to receive a better hand.
