Industry Reports

Could Local Players Be Enough for Kingsway Entertainment District Casino Venue Overseen by Gateway Casinos?

Tuesday was a very important date for Sudbury, as the City Council saw a presentation of several large projects, Kingsway Entertainment District among others. It has been confirmed that up until this moment, around CA$1.5 million has been spent on the entertainment project. Mark Signoretti, Ward 1 City Councilor, stated that as it turns out, the casino operator is going to rely on local players to attend the casino venue, instead of tourists, as it was promised earlier.

Updates on the progress of the entertainment project which has been attracting the attention of the community for quite some time now have been among the highly-anticipated congregations in Sudbury. Ian Wood, General Manager of Community Development made sure to provide the public with the latest happenings around the project which would allegedly boost the local economy and provide permanent employment to residents of the area.

Alleged Change of Previous Plans

The meeting managed to provide more information about the current state of the casino project and this update was anticipated by the community. Gateway Casinos is willing to build its very own casino venue bearing the well-known brand Starlight Casino and their interest in the project has not decreased as time progresses.

It could be recalled that earlier this year the casino developer and operator confirmed this casino project is the most important one for the company’s operation in the Northern Ontario region. The casino developer is willing to set foot in the new entertainment project on the Kingsway East in Greater Sudbury. Towards the end of November, the company filed for Initial Public Offering, striving to amass some $100 million as a result, and in it, casino patrons from near and far making were not mentioned.

According to Gateway Casinos’ Initial Public Offering, local funding will be essential for the project’s development and permanent residents will be the main driving force. However, during earlier conversations regarding the project tourists were mentioned. Projections were that this new gaming venue is going to draw quite the crowd, comprising of individuals from neighboring communities such as Sturgeon Falls, Timmins, and Elliot Lake, making their way to the entertainment zone.

More Concernes Expressed at the Meeting

Coun. Signoretti is an avid opposer of the casino project and he was the one pointing out that there is a shift in the direction of development which does not align with previous conversations on the subject. In response to this statement, Mr. Wood was quick to confirm that Gateway Casinos has not changed their initially introduced plans and all commitments remain consistent. At the end of the day, Sudbury should be transformed into a gaming-friendly area and this is going to happen through the CA$55.5-million investment.

Later on during the meeting, more concerns were expressed, as Gateway Casinos is also moving forward with casino plans for North Bay. This Wednesday is set to see a meeting dedicated to the future casino venue and establish its location, as well as work on the Municipality Contribution Agreement between the City of North Bay and Ontario Lottery and Gaming Corporation.

Moreover, there is also Gateway Casinos Sault Ste. Marie which has been a temporary facility for the past 20 years and there are no signs of major investment coming its way in the foreseeable future. This was confirmed recently via Gateway Casinos’ Registration Statement under the Securities Act of 1933. Sault Ste. Marie’s casino venue operation could still affect future Starlight Casino Sudbury’s performance in the long run.