OLG confirms Letter of Intent for lease in Dresden

The Ontario Lottery and Gaming Corporation (OLG) has announced that it has reached lease agreements in principle for its slots operations with eight of its site holders. This includes:

• Woodbine Racetrack;
• Mohawk Racetrack;
• Rideau Carleton Raceway;
• Hanover Raceway;
• Woodstock Raceway;
• Dresden Raceway;
• Sudbury Downs; and
• Clinton Raceway.

OLG has provided the site holders with a Letter of Intent, which sets out the general intentions and business arrangements, subject to approvals, between the site and OLG. On December 21, 2012, OLG announced agreements in principle with Western Fair District Raceway and Kawartha Downs Racetrack.

“We are pleased to announce that we have reached lease agreements in principle with 10 gaming sites,” said Rod Phillips, President and CEO of OLG, “We have longstanding and positive relationships with our site holders and look forward to working with them in the future.”

OLG hopes to complete agreements with site holders by February 28.