Great Canadian Gaming Corporation and Clairvest Group, through its Clairvest Equity Partners V partnerships, has successfully completed the acquisition of the gaming assets in the West Greater Toronto Area (the “West GTA Bundle”) for a purchase price of approximately C$134m.
The Ontario Gaming West GTA Limited Partnership, formed by Great Canadian and Clairvest, was selected by the Ontario Lottery and Gaming Corporation to operate the West GTA gaming facilities comprising OLG Casino Brantford, OLG Slots at Mohawk Racetrack, OLG Slots at Flamboro Downs and OLG Slots at Grand River Raceway. The partnership has also signed a casino operating and services agreement with OLG to take over day-to-day operations of the gaming facilities in the West GTA Bundle.
With immediate effect the West GTA facilities will be re-named as Elements Casino Brantford, Elements Casino Flamboro, Elements Casino Grand River and Elements Casino Mohawk. They have a combined total of over 2,500 slot machines, approximately 60 table games, employ more than 1,400 staff and generated approximately $460m in gross gaming revenue in fiscal 2017/18.
The partnership will have the exclusive right to operate these facilities for a minimum period of 20 years. With the transition process complete, it will focus on initiatives and capital investments that will modernise and broaden the guest experience at each facility. The partnership intends to work closely with stakeholders as it enhances and transforms the facilities located in the West GTA Bundle, while maintaining a focus on responsible gambling.