Control Over Niagara Gaming Bundle By MGE
Mohegan Gaming and Entertainment Breaks into Canada’s Gambling Market Through Casino Niagara
A gambling industry veteran, Mohegan Gaming and Entertainment (MGE), starts a new chapter in the company’s business development, finalizing the service agreement with Niagara Gaming Bundle.
The deal was officially closed on Tuesday, June 11, transferring over the control of Fallsview Casino Resort and the Niagara Falls Entertainment Centre (scheduled for the grand opening this Summer) to MGE.
The Bidding Showdown
As the governing body of Casino Niagara, the Ontario Lottery and Gaming Corporation (OLG) had the final say about the future of Canada’s largest gambling resort. After last year’s intense bidding war and the renovations which took place the year before that, the contract was finally awarded to MGE. The victory did not, however, come easy. Before securing the 21-year long deal, the company had a difficult task of warding off some pretty strong competitors, such as Hard Rock Café International and Caesars Entertainment Corporation, which allegedly tendered tempting offers.
The decision to go with MGE was brought due to the company’s capacity to advance community development.
“The addition of the Niagara Falls destination to MGE’s portfolio of properties offers our million of valued guests another impressive one-of-a-kind experience MGE has become known for providing. We look forward to becoming an integral part of the Niagara community and promoting greater economic development and tourism in the region by showcasing our outstanding gaming, entertainment, and resorts offerings for locals and visitors alike.”, stated Marion Kontomerkos, the CEO of Mohegan Gaming & Entertainment.
What the Future Holds for Casino Niagara
According to Stephen Rigby, the President, and CEO of OLG, transferring the Niagara Gaming Bundle to MGE is the steppingstone of land-based gambling reforms and massive potential for new investments. MGE’s experience in gaming entertainment is the key factor in establishing Casino Niagara’s firm competitive position on the market.
MGE’s managerial role will not diminish OLG’s responsibility – the Corporation will still be in charge of overseeing Niagara Gaming Bundle operations, making sure that the standards of Responsible Gambling are met.
About Mohegan Gaming and Entertainment
MGE was founded in 1996 and soon evolved into one of the largest gaming business in the USA, with multiple gambling resorts under their ownership including the facilities in Northern Asia. The company also owns Connecticut Sun professional WNBA basketball team, as well as the New England Black Wolves (members of the National Lacrosse League).
MGE’s Mohegan Sun is probably one of the top-performing company’s casinos, claiming the Casino of the Year award by International Entertainment Buyers Association (IEBA) in 2015.
About the Ontario Lottery and Gaming Corporation
The OLGC is the government agency established in 1975 (as Ontario Lottery Corporation or OLC) that manages internet gaming, sale of lottery games, and the legality of gaming facilities. In 2000, OLC merged with Ontario Casino Corporation (OCC), forming the institution that we know today – Ontario Lottery and Gaming Corporation (OLGC), or OLG as of 2006.
So far, OLG has released over $50 billion to the community and has been investing the proceeds to the province, supporting the health care system, gambling addiction treatment, prevention research programs, local charities, Ontario First Nations, and community events.