Home ❯ News ❯ America Seizes Initiative in Bid for Coveted Canadian Casinos
Advertiser Discolusure We want to bring you the best content and the best offers. Just so you know, we may collect compensation from the links on this page and some of our reviewers are compensated for contributing content to this website.
America Seizes Initiative in Bid for Coveted Canadian Casinos
News broke last month of the interest in Niagara Falls based casinos by a number of American companies. It seems that the leases on Casino Niagara and Fallsview Casino are up for grabs, and there has been something of a bidding war ever since to try to attract interest and attention. There are plenty of incentives to these casinos, and it seems that this has attracted a lot of interest south of the border.
Indeed, five companies are initially believed to have shown an interest in the casinos and their leases, and of these five only two were actually Canadian. Ontario Lottery and Gaming Corporation has the two casinos up for grabs, bundled together on a two-decade long lease! This is going to be a massively smart move for anyone who wishes to take advantage of this, and cash in on the wonderful opportunities here.
In the past these casinos had been owned by Ontario Lottery and Gaming Corporation, and the relationship has been instrumental in helping develop positive economic growth, and making plenty of money for Niagara Falls and Ontario. With new ownership, especially American ownership, it seems likely this will no longer be the case anymore. New ownership could well take money away from the area and into other areas.
The fact that Canadian bidders have seemingly lost out on this lucrative venture is a body blow for the casino industry in the Great White North, and raises a lot of questions about the power and influence of Canada in the casino market in the future.