Entertainment Insider – November 2010 Show Announcement
On Saturday I received the latest Entertainment Insider email newsletter from the Fallsview Casino Resort.
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Entertainment Insider – July 2010 Show Announcements
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Entertainment Insider – July Show Announcements
Last Friday I received the latest Entertainment Insider email newsletter from the Fallsview Casino Resort.
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New lease on Casino Niagara
A new long-term lease has finally been admitted to the location of Casino Niagara. The uncertainty of keeping the location has come to a close and Casino Niagara will definitely be open on Falls Ave. for another 15 years or so. OLG, owner of Ontario’s casinos, reached a deal with Canadian Niagara Hotels which owns the Casino [...]Strong future secured for Casino Niagara
From a CNW Group press release:
The future for Casino Niagara was unveiled today, with the finalization of a long-term lease between the Ontario Lottery and Gaming Corporation (OLG) and Canadian Niagara Hotels Inc. (CNHI).
“The McGuinty government has delivered on its commitment to ensure that Ontario not only maintain two casinos in Niagara Falls but also enhance the exciting variety of gaming and entertainment options for Ontarians and visitors alike,” said Kim Craitor, MPP for Niagara Falls, who made the announcement on behalf of the Honourable Dwight Duncan, Ontario’s Minister of Finance and the Minister responsible for the Ontario Lottery and Gaming Corporation.
OLG and property owner Canadian Niagara Hotels Inc (CNHI) announced agreement on a 15-year lease extension for the current location, effective March 1, 2010. The extension provides long-term economic stability for local businesses, employees and communities in the region.
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Casino Niagara future appears secure
From the Niagara Falls Review:
The Ontario government appears to have secured Casino Niagara’s long-term future. Niagara Falls MPP Kim Craitor is expected to make an announcement at the casino Friday afternoon about the “economic future” of Niagara Falls. The location of Craitor’s announcement is listed as the second-floor atrium of Casino Niagara.
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Casino lease extension makes sense: Premier
From the Niagara Falls Review:
Protecting the Ontario government’s own investment in Casino Niagara is the reason it has to be treated differently from the Maid of the Mist, says Ontario Premier Dalton McGuinty, rejecting opposition calls to invite bids from property owners interested in hosting a casino.
“There is a distinction,” the premier told reporters in Niagara- on-the-Lake Wednesday where he spoke at the Ontario Economic Summit.
With Ontario Lottery and Gaming’s lease on the casino’s Falls Avenue location set to expire in March, McGuinty said his government’s preference is to have the Crown corporation continue negotiating an extension with landlord Canadian Niagara Hotels.
The government has two options for Casino Niagara – renew the lease “at a reasonable rate” or abandon the Canadian Niagara Hotels location for a new location to be determined later.
When Casino Niagara opened in 1996, Ontario Lottery and Gaming pumped $125 million into the old Maple Leaf Village site to convert a defunct amusement park into Ontario’s second commercial casino.
Building a new casino would mean walking away from the initial investment and some smaller expenditures like the $12 million spent in 2005 when sports betting came in.
“When you look at it that way, it really makes sense for us to do the best that we can to negotiate a reasonable new lease at the existing site,” McGuinty said. “It was a lot of money to build that casino inside that space.”
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‘Progress’ on Casino Niagara lease, but talks ongoing
From the Niagara Falls Review:
Ontario Lottery and Gaming and Canadian Niagara Hotels have made progress in talks to keep Casino Niagara in the location it has occupied since 1996, more than two years after Premier Dalton McGuinty told OLG to “get a deal.”
“There has been some positive progress,” said Dino A. DiCienzo, vice-president of Canadian Niagara Hotels, the company that has been the landlord for the government-owned casino since it opened on Falls Avenue.
The two sides met recently, something DiCienzo considers an improvement, considering they went months at a time without any meaningful discussions.
“Now, there has been some positive meeting with more of a community vision for Niagara Falls,” DiCienzo said.
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