Olg Slots At Woodbine

The Market Says Ontario Got Fleeced On Gaming Assets

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When you join OLG you will work with some of the most creative minds in the industry and with people who want to share their ideas and ask for yours. In other words the taxpayer received less than 5 per cent for what the assets are worth, and the province missed out on about $2 billion.

Great Canadian said that in the two-plus months it had operated the assets, the GTA bundle contributed an extra $86.7 million in revenue and, staggeringly, an extra $31.3 million in net income. But the GTA Gaming Bundle itself held $62 million of cash at the time of acquisition — which effectively meant the group paid less than $100 million.

So, over the period to last Friday from May 9, Great Canadian's market cap, based on 61 million shares outstanding, jumped by $1.115 billion — or almost 50 per cent. Please enter your email below, and we'll resend the instructions for email verification. The GTA Gaming Bundle sale involved the disposition of gaming assets including OLG Slots at Woodbine and Ajax Downs, and the Great Blue Heron Casino.

On May 9, Great Canadian, which along with Brookfield each own 49 per cent, released its financials, which revealed the great deal received by the consortium. This year, a three-member consortium — Great Canadian Gaming Corp., Brookfield Business Partners and Clairvest — acquired the right to run the gaming assets for at least the next 22 years.

We've sent an email with instructions to create a new password. That suggests the market is saying the GTA bundle the consortium purchased for around $100 million last January is now worth $2.275 billion. Please enter your email below below, and we'll send you a new code to reset your password.

We have sent you a confirmation email to emailAddressData Please check your inbox and follow the instructions to confirm your email address. The consortium's purchase price, according to Great Canadian, was $158 million, which landed them $161.3-million in total assets.

Sorry, we could not verify your email address. Check your email for a link to verify your email address. You must verify your email address before signing in. Check your email for your verification email, or enter your email address in the form below to resend the email.

When you join OLG you will work with some of the most creative minds in the industry and with people who want to share their ideas and ask for yours. In other words the taxpayer received less than 5 per cent for what the assets are worth, and the province missed out on about $2 billion.

Great Canadian said that in the two-plus months it had operated the assets, the GTA bundle contributed an extra $86.7 million in revenue and, staggeringly, an extra $31.3 million in net income. But the GTA Gaming Bundle itself held $62 million of cash at the time of acquisition — which effectively meant the group paid less than $100 million.

So, over the period to last Friday from May 9, Great Canadian's market cap, based on 61 million shares outstanding, jumped by $1.115 billion — or almost 50 per cent. Please enter your email below, and we'll resend the instructions for email verification. The GTA Gaming Bundle sale involved the disposition of gaming assets including OLG Slots at Woodbine and Ajax Downs, and the Great Blue Heron Casino.

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