GC finalizes New GTA Gaming Bundle Lease Agreement at AjaxGREAT CANADIAN GAMING FINALIZES NEW GTA GAMING BUNDLE LEASE AGREEMENT AT CASINO AJAX April 24, 2019 – Coquitlam, BC -
Great Canadian Gaming Corporation [TSX: GC] (“GCGC,” or “the Company”) today announced that it has completed agreements with the Ontario Lottery and Gaming Corporation (“OLG”) and the owners of the Ajax Downs racetrack for the continued operation of slots at Ajax Downs in Ajax, Ontario.
The Greater Toronto Area gaming bundle (“GTA bundle”) was awarded to the Ontario Gaming GTA Limited Partnership (“OGGTA”) and is operated by the Company. The GTA bundle originally included Casino Woodbine, Great Blue Heron Casino, and Casino Ajax, whose operation was to be relocated to a new casino resort property to be developed by GCGC in Pickering, in addition to a fourth gaming zone opportunity to be located in the GTA bundle.
After assuming operation of the GTA Bundle, GCGC planned to close the Ajax slots facility upon the opening of a new casino resort property in Pickering. With the provincial government’s most recent commitment to horse racing and job creation, this agreement allows for the addition of this new gaming zone and the continued operation of Casino Ajax with 500 slots with all current amenities.
The consummation of this agreement, initiated by Ontario’s provincial government and OLG, affords stability for quarter horse racing at Ajax Downs, jobs supported by the facility, and the provincial horse racing industry in general.
“Since being awarded the East, GTA and West GTA gaming bundles, we have already created more than 1,100 new local jobs,” said Rod Baker, Chief Executive Officer of GCGC. “With the encouragement of the OLG and the provincial government, we have quickly moved forward with an aggressive capital development plan in all markets we are operating in. There will be approximately 4,000 additional new jobs for people in Ontario communities once our developments are fully built out.”
“The decision by the provincial government to create a new gaming zone at Ajax Downs has secured several hundred jobs at that location, with no impact on the number of jobs originally planned at the new facility under development in Pickering,” added Baker. “This agreement also provides an opportunity for further capital investment and a more diverse selection of gaming options to our guests.
Great Canadian is pleased with the collaboration from all stakeholders in bringing this agreement to fruition and the Great Canadian Gaming Finalizes New GTA Gaming Bundle Lease Agreement at Casino Ajax April 24, 2019 – Page 2 commitment by the provincial government to economic development and job creation in Ontario.”
“I would like to thank the Government of Ontario, OLG, Great Canadian Gaming, and the loyal customers of Casino Ajax for their continued support and constructive work to finalize this agreement. This is a good day for horse racing, and we’re excited to contribute to meaningful local employment opportunities in Ontario,” said Justin Picov, President of Ajax Downs.