Gateway Needs Local Support To Go Through With Expansion
Canadian gaming and entertainment operator Gateway Casinos and Entertainment is preparing to expand gaming at one of its Ontario properties, but there’s a condition that needs to be fulfilled before the company can proceed with its plans.
According to available information, Gateway wants to invest $140 million into its Western Fair Raceway & Slot venue, located in London, Ontario, but before the company is allowed to do so, it will need to prove this move has the support of the local authorities and the London’s residents.
The investment should transform this facility into a fully developed casino, which will become a part of Gateway’s Grand Villa premium brand. In addition to the announced gaming expansion, the new site will offer a 125-room hotel, four restaurants as well as a new gaming floor with 1,200 slot machines and 46 table games.
Western Fair Raceway & Slot was taken over by the country’s largest private casino operators back in May, while the current least of $6 million per year expires in two years.
Rob Mitchell Gateway’s Director of Communications and Public Affairs said London was the market for the company, stating the kind of entertainment offered at this venue was sourced locally from the community.
What If The Deal Doesn’t Go Through
Mitchell added the company planned to invest $140 million that would help build a new casino and create more than 700 new jobs. However, he pointed out Gateway would turn to other options if the plan failed, and that the company already had another site in mind.
London’s slot-only casino generates around $4.5 million in taxes on a yearly basis.
The project will have two phases: the first one will see the opening of the new casino, while the biggest part of the second phase will be the construction of the new eight-story hotel. Both phases would be completed in two years.