Tag Archives: New Brunswick

GCG completes Acquisition of 4 Toronto Casinos

GCG expands it dominance of the Canada casino market, taking over four gambling properties near Toronto. In December of last year, the Ontario Lottery and Gaming Corporation (OLG) selected Great Canadian Gaming (GCG) to take over one of its most prominent gaming bundles. GCG won the bid to manage four Toronto casinos. This week, the company completed its $134 million acquisition of those properties. In a press release on Tuesday, GCG and its partner, Clairevest Group – a consortium that is, together, known as Ontario Gaming West GTA Limited Partnership – announced they had finished dotting their i’s and crossing their t’s. With all the paper work done, and necessary financial checks complete, the private service provider is now taking charge of the four properties in the OLG’s prominent West Greater Toronto Area Bundle. The casinos, now under managerial operation of GCG, include the following four locations:  – OLG Casino … Continue reading

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Lack of Internet Gambling Products hurting Atlantic Lottery Corp

Lack of digital gambling products causing revenue pangs for Atlantic Lottery Corp. The lottery products of Canada’s Atlantic provinces, New Brunswick, Newfoundland & Labrador, Nova Scotia and Prince Edward Island, are regulated under the monopoly of the Atlantic Lottery Corporation (ALC). It’s been this way for decades, and there’s no expected change in the foreseeable future. What is expected, however, is an expanded digital gambling product that could eventually match that of other iGaming provinces. On Monday, the ALC published its revenue report for the fiscal year 2016-17. There were both positive and negative realizations, but for the ALC’s CEO, Brent Scrimshaw, there’s too much going into the negative column. One the one hand, the regulators profit came in at $422 million, exceeding their target by $6.5 million. This marks the fourth straight year in which the ALC has surpassed its profit goal. This is great news for the Atlantic … Continue reading

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