Gateway announced plans to invest $140 million to build a casino in London in earnest. The casino expansion was supported by many people because they believed it would bring additional revenue and create more than 700 new jobs. Gateway chose Western Fair as its preferred location to build a casino. All discussions on casino expansion were held behind closed doors at City Hall. This debate will be Gateway's first public debate, which will provide casino machines to new casino centers.
Gateway looking for a better lease
Gateway took over the day-to-day operations of its North and South gaming bundles last year after the Ontario Lottery Gaming Corporation (the crown corporation responsible for managing the gambling industry in Ontario) recognized the need to modernize the state's gaming industry. Among other things, the South Gaming Bundle includes a slot-only gambling house in London's Western Fair district. Gateway has already been named the main casino expansion operator for the London Casino Bundle, just a year after it was named two major casino expansion operators.
OLG has agreed with the London City Hall and Western Fair District to operate the venue for $6 million a year. What's important here is that Gateway has acquired a contract between OLG and OLG, which is set to expire in 2020. But the casino operator is reluctant to pay such a high price to the Western Fair area, the landlord.
Last month, Gateway announced that lower rents could allow casino operators to invest more money in casino expansion, while benefiting the city.