Gateway Casinos & Entertainment Limited ("Gateway") has signed a 20-year Casino Operating and Services Agreement (COSA) with the Ontario Lottery and Gaming Corporation ("OLG") and has purchased the business and assets of the North Gaming Bundle. Gateway will take over the day-to-day operations. With the OLG transition complete in the North and Southwest Gaming Bundles, Gateway will now focus on plans to invest in these communities to dramatically improve customer experience.
"The successful transition of the properties in the north is another exciting and important milestone for Gateway. Our portfolio of properties has now grown to 26 with over 6,100 employees working on our team across the country," said Tony Santo, Gateway's chief executive officer. "We are very proud to officially welcome the OLG colleagues in the north to our Gateway team."
"Gateway's growth strategy and focus on a superior customer experience revolves around investing in the company's unique gaming properties and creating a broader attraction across numerous demographics. Our success has resulted in significant job creation across the communities where we operate in Western Canada. We are bringing this same approach to Northern Ontario with a planned investment of over $100 million to revitalize and enhance the gaming and entertainment landscape in the north," said Gabriel de Alba, Gatweway's exeucitve chairman.
The expansion into Ontario is the next step in the continued evolution of Gateway. In 2010, The Catalyst Capital Group Inc. ("Catalyst"), Gateway's ownership group, took Gateway and its nine properties under management to rebuild and restructure the company. A focus on superior customer experience and measured growth has seen Gateway's portfolio expand to 28 properties once the North Gaming Bundle is fully developed.
Central to Gateway's success has been the development of signature casino and restaurant brands that have dramatically improved the gaming customer experience while generating important new customer segments. With transition complete, Gateway will now focus on plans to invest over $300 million in Northern and Southwestern Ontario communities to introduce these signature brands.