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OLG selects service provider for East Gaming bundle9 September 2015TORONTO, Ontario -- (PRESS RELEASE) -- Following a competitive procurement process, Ontario Lottery and Gaming Corporation (OLG) has selected Ontario Gaming East Limited Partnership ("Ontario Gaming East LP") as the service provider for Gaming Bundle 2 (East) (the "East Gaming Bundle"). Great Canadian Gaming Corporation holds the majority interest in Ontario Gaming East LP. "Today's announcement marks an important milestone in OLG's modernization and the future of our organization," said Stephen Rigby , OLG's President and CEO. "As the service provider for the East Gaming Bundle, the investments Ontario Gaming East LP will make will help move modernization forward while ensuring we continue to deliver an exceptional experience for our customers." OLG has entered into a Transition and Asset Purchase Agreement with Ontario Gaming East LP, which sets out the customary closing conditions to be satisfied for OLG and Ontario Gaming East LP to enter into a 20-year Casino Operating and Services Agreement. Under this agreement, Ontario Gaming East LP will take over day-to-day operations of OLG Casino Thousand Islands and OLG Slots at Kawartha Downs. OLG expects this transition to take place in early 2016. "We thank OLG for the opportunity to participate in the modernization of gaming in Ontario and are both honoured and excited to have been awarded this first gaming bundle," stated Rod N. Baker , the Company's President and Chief Executive Officer. "Great Canadian has been involved in gaming in Canada since 1982 and in Ontario horse racing at our Flamboro Downs and Georgian Downs properties since 2005. We look forward to this next chapter in the Company's history and the opportunity to collaborate with the OLG and local municipalities to provide exciting entertainment experiences for each of the communities of the East Gaming Bundle, which will include a new gaming and entertainment facility for the community of Belleville or Quinte West . We are very excited to welcome OLG employees at the existing locations and we look forward to working with them after the anticipated completion of the acquisition early next year." OLG employees will transfer to the new service provider and OLG will work with Ontario Gaming East LP to ensure they have as smooth and seamless a transition as possible. This includes a requirement for the service provider to retain employees for a period of no less than 12 months in their current position and geographic location, and to provide eligible employees with benefits and a registered pension plan. As the service provider for the East Gaming Bundle, Ontario Gaming East LP will have the opportunity to build a new gaming and entertainment facility in Belleville or Quinte West . The proposed new facility will be subject to required regulatory, municipal and provincial government approvals. While Ontario Gaming East LP will be responsible for the day-to-day gaming operations in the bundle, OLG will continue to: Conduct and manage gaming in the bundle Require compliance with applicable regulations set out by the Alcohol and Gaming Commission of Ontario (AGCO) Be the owner of key player information Uphold the standards of its Responsible Gambling program through the service provider, including the self-exclusion program Distribute Municipality Contribution Agreement payments to host communities Ontario Gaming East LP is required to follow all applicable laws, as well as OLG and AGCO regulations and rigorous Responsible Gambling standards. To OLG, the integrity of its procurement process is of the utmost importance. Throughout the procurement process, OLG has engaged the services of a Fairness Monitor to provide oversight and advice to support integrity and fairness.
OLG selects service provider for East Gaming bundle
is republished from Online.CasinoCity.com.
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