Gateway Casinos announced investment

The Canadian company Gateway Casinos & Entertainment Limited announced a US$200 million investment plan.

Canada.- Gateway Casinos & Entertainment Limited announced that it reached a deal with OLG (Ontatio Lottery and Gaming Corporation) to invest US$200 million for properties in Ontario. The company is waiting to settle a full casino in London.

Senior Vice President of Marketing and Communications Carrie Kormos, said that they’re planning a major gaming and entertainment casino property in London. “However, we are still working on our plans and it is important to be respectful of the approval process that we have with our OLG partners, with government, and with other folks,” she added. The deal establishes a 20 year casino operation and services agreement (COSA) with the OLG, and another package that includes the possibility of featuring slots in London, Dresden, Clinton, Hanover and Woodstock, as well as a casino in Point Edward. “While we’ll have more to say in the coming weeks and next month, we’re planning a major gaming and entertainment property in London that will be a significant investment and in fact our largest development in Ontario,” she said.

“We’re still working through our plan, but if you look at what Gateway has built in other provinces, we really have a track record of creating full-service entertainment destinations that involve restaurants, spectacular gaming floors, hotels, other non-gaming amenities. We’re working through those plans right now with the OLG,” added the official, who also confirmed that the investments in London could bring more than 1000 construction jobs in the future.