New Casino Venue for Collingwood or Wasaga Beach
Posted on November 16th, 2016 at 12:11pm
Operators Involved to Create New Georgian Bay ContractBitonti has also mentioned that operators will be involved in creating the contract. These contracts will span 20 to 25 years each, so the OLG wants to be sure of its choices in terms of bundle operators. The operator will also choose the location – Collingwood or Wasaga Beach – for the new ventures, along with contacting the municipality. Deputy Mayor Brian Saunderson has requested to be updated by his staff during the first week of this issue, as the current council has yet to do so. Earlier this year in January, Bitonti held a meeting with Jake Pastore, the Director of Municipal and Community Relations, to present to councillors an idea for a gaming facility that would house live table games like poker, blackjack and roulette as well. Ten or fifteen of these games were proposed.
New Casino to Offer Both Slots and Table GamesIt was not until these discussions arose that the decision was made to add table games to the bundle. Wasaga Beach has been open to the concept of a local casino since 2012, while Collingwood has only agreed to the venue if it is to be part of a larger destination and resort. Wasaga has already selected four potential sites for the new gaming venue. A deal by the municipality that is chosen for the venue will have to be signed with the OLG, but the area does not have to sign an agreement with the operator in case the future operator should change. The municipality will receive 5.25% of the casino’s first $65 million in revenues, followed by 2.5% and 0.5% of the next $300 million and $500 million generated. Additionally, 3% of the following $135 million revenues will go to the area, and table games will pay out 4% of the casino’s takings.
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