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GCGC, OLG Extend Interim Arrangement

Published: November 1, 2013 11:53 am ET

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On Thursday, October 31, the Great Canadian Gaming Corporation announced that its interim arrangements with Ontario Lottery and Gaming Corporation for the continued operation of OLG slot facilities at Georgian Downs and Flamboro Downs have been extended to November 15, 2013.

These extensions allow OLG more time to finalize the definitive lease agreements with Great Canadian. The current interim arrangements with the OLG have been in place since March 31, 2013, when the previous site holder agreements for Georgian Downs and Flamboro Downs expired.

On March 9, 2013, Great Canadian and OLG signed non-binding letters of intent outlining terms by which OLG will lease the slot machine areas of Georgian Downs and Flamboro Downs commencing April 1, 2013 for a term of five years. Great Canadian and the OLG have been operating as though the key provisions of these lease arrangements came into effect on April 1, 2013.

(With files from Great Canadian)

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