With the demise of the slots at racetracks program, the Ontario Lottery and Gaming Corp. (OLG) announced their “Modernization Strategy” for gaming in the province. Their goal is to bring gaming and entertainment together on a larger scale at multiple locations to boost revenue. As such, they have begun a Request For Proposal process to determine which companies will gain the rights to build gaming facilities in the province.
Reports in July indicated that casino giant Las Vegas Sands Corp. had expressed interest in Toronto’s waterfront as a potential location for an “integrated resort” including casino, retail, convention, exhibition and entertainment space. The company does not have a specific site in mind and has not submitted a proposal at this time.
It has come out recently that Las Vegas Sands is under investigation in the US for its role in a suspected money laundering case, as the result of their handling of millions of dollars gambled by two high rollers – one involved in a drug trafficking case, the other in an illegal kickback scandal – at their facilities. In addition, the company is facing allegations of bribery regarding dealings at its facility in Macau (China).
No formal complaints have been made. For more detailed information, read the Reuters report here
~ with files from Standardbred Canada
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