Great Canadian Gaming and Brookfield Business Partners have completed the acquisition of certain gaming assets in the Greater Toronto Area, the GTA Bundle, for a purchase price of approximately CAD$170m.
The partnership has signed a casino operating and services agreement with the Ontario Lottery and Gaming Corporation 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 modernisation of its casino operations. In 2016, its three facilities, OLG Slots at Woodbine, OLG Slots at Ajax Downs and Great Blue Heron Casino generated gross gaming revenue of over CAD$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.
The partnership intends to grow and develop the facilities, enhancing gaming offerings and integrating property expansions such as event facilities, hotels and entertainment venues.
