Two of the Canadian casinos are heading for US ownership, as it looks like. The owners of Niagara Fallsview Casino and Casino Niagara may not remain Canadians. Regional casino firms Gateway Casinos and Entertainment Limited and Great Canadian Gaming Corporation have withdrawn from bidding, as per the updates.
As per a newspaper report, the Canadian pair withdrew from the race for getting 20-year license of the southern Ontario casinos. The biding prices reached a peak and now the US bidders Caesars Entertainment Corporation and Hard Rock Cafe International Incorporated are top most contenders. Besides, the Mohegan Gaming and Entertainment enterprise is also in the race. It remains to be seen which one wins the race.
While the 2 casinos are owned by Ontario Lottery and Gaming Corporation, they are managed by Falls Management Group, based in Toronto. This arrangement is set to expire next year. Crown corporation is a potential bidder. It has been heard that the American firms are going to offer aggressive pricing to get possession of the two Canadian casinos.
Caesars Entertainment Corporation is based in Las Vegas and it is a leading casino operator having 47 properties located in 5 countries. The Hard Rock Cafe International Incorporated owns 15 gambling venues in as many as 11 countries. The Mohegan Gaming and Entertainment, formerly known as the Mohegan Tribal Gaming Authority is set to spend $1.6 billion to set up the much touted Project Inspire casino resort in 2021 in South Korea.