GCGC, OLG Sign ‘Definitive Agreements’

Published: November 29, 2013 05:49 pm EST

On Friday, November 29, Great Canadian Gaming Corporation announced that it has signed definitive lease agreements with the Ontario Lottery and Gaming Corporation for the continuation of slot operations at Great Canadian’s Georgian Downs and Flamboro Downs racetrack facilities.

Under the terms of these agreements, OLG will lease the slot machine areas at the Ontario Racetracks for a five-year term commencing April 1, 2013. Great Canadian and the OLG have previously been operating under signed non-binding letters of intent which replaced the previous site holder agreements that expired on March 31, 2013.

"We are pleased to have reached an agreement with Great Canadian for both their Flamboro and Georgian sites," said Rod Phillips, OLG's president and CEO. "This reflects our longstanding and positive relationship with Great Canadian."

"We are also pleased to have now entered into these definitive agreements with the OLG," stated Rod Baker, Great Canadian's president and CEO. "With definitive lease agreements now signed, we can look forward to the next chapter for our properties in Ontario and further developing our relationship with the OLG as the gaming industry in Ontario continues its evolution."

(GCGC)

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