Posted Nov 1, 2013, 12:13 PM
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Join Date: Mar 2008
Posts: 3,729
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GCGC PR:
Great Canadian Gaming Further Extends Interim Arrangements for OLG to Continue Operating Slot Facilities at Georgian Downs and Flamboro Downs
October 31, 2013 – Richmond, BC – Great Canadian Gaming Corporation [TSX:GC] (“Great Canadian” or the “Company”) today announced that its interim arrangements with Ontario Lottery and Gaming Corporation (“OLG”) for the continued operation of OLG slot facilities at Georgian Downs and Flamboro Downs have been extended to November 15, 2013. These extensions allow OLG more time to finalize the definitive lease agreements with the Company. The current interim arrangements with the OLG have been in place since March 31, 2013, when the previous site holder agreements for Georgian Downs and Flamboro Downs expired.
On March 9, 2013, the Company and OLG signed non-binding letters of intent outlining terms by which OLG will lease the slot machine areas of Georgian Downs and Flamboro Downs commencing April 1, 2013 for a term of five years. The Company and OLG have been operating as though the key provisions of these lease arrangements came into effect on April 1, 2013.
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