MGE has been chosen after the US gaming company met certain criteria of a competitive procurement process. The OLG President Stephen Rigby said in a written statement that the combination of the success of the Niagara casinos, the tourist attractions in the area, and the variety of entertainment give MGE a long-term advantage. The move is hoping to not just create new jobs for the locals, but to also bring in business from across the border.
What MGE brings to the table
MGE has been in operations in the US for the last fifteen years and has been running one of the most successful gaming arenas in the country. MGE’s senior vice president Anthony Casdia said that their company has the expertise to make the Niagara Falls Entertainment Centre a top-ranked venue in Canada. MGE’s current project is the Connecticut based Mohegan Sun Casino and Entertainment Complex.
What’s in store for Niagara casino and resort?
As far as the Niagara casino and resort goes the current employees will be transferred to the new service provider as per the existing terms of their employment. These employees can retain their posts for at least the next twelve months. MGE will be taking over operations next summer which be the start of their 21 year-long agreement.
Opposition
While the deal itself has not faced any opposition, the government is facing some criticism for privatizing gaming. Many like MPP Percy Hatfield feel that this move will cost the province revenue to the tune of billions of dollars.
MGE was in the running along with two Canadian competitors, but finally bagged the contract. The OLG has kept the value of the deal confidential, but the organization believes that the province has a lot to gain. Not only will the new service providers invest billions in capital development, but this, in turn, will lead to thousands of new jobs being created. With so many more well-paying jobs available the province will stand to benefit.
The OLG is looking at boosting the province revenue by up to $900 million annually over the next few years.
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