Greater Toronto Area (GTA), expecting to unleash the industry’s full potential and provide a strong drive for the region.

Ontario Lottery and Game Company (OLG) will choose a new casino operator, which will be tasked with controlling OLG-owned casinos and slot machines at the GTA. The winning company will sign a long-term contract with OLG, and the selected operator will be in charge of OLG casino-related issues for a period of 22 years.

Not surprisingly, the news stimulated the appetite of many foreign casino operators, who expressed their desire to participate in the bidding. It’s no secret that Toronto’s gaming industry is still in the early stages of development, but the winning casino operator will be able to immediately begin renovations to three existing gambling facilities and open a fourth gaming venue after obtaining permission from officials.

The companies bidding to take control of gambling businesses at Woodbine Racecourse in Toronto, Ajax Downs and Great Blue Heron Casino in Port Perry are Brookfield Asset Management in Canada, U.S.-based Caesars Entertainment and Malaysia Genting Group, the Globe and Mail said.

All of them are tempted by OLG’s commitment to up to 70% of its gambling revenue over the next 22 years, with at least $72 million in financial profit, and in return, OLG calls on the winning operator for a strategy aimed at increasing revenue generated by the gaming industry.

The agency explained that the goal is to boost the economy and bridge some gaps in the budget, as OLG is known as a major source of government non-tax revenue. A major setback for the gaming industry in the Greater Toronto area is rooted in ever-increasing online gambling in the U.S., which seems more attractive to customers than OLG’s limited and outdated gambling facilities that remain on the backstage.바카라사이트 추천

OLG spokesperson Louis Broome explained that the company’s sales have dropped significantly, and that OLG is now trying to revive the casino market in the region in search of a foot. As a result, the company aims to sell nearly half of its casino facilities and slot machines to private operators, giving momentum to the modernization process and drawing the attention of lost customers.