Casino News

Gateway Casinos Signs Lease Deal for Wonderland Road Development in London, Scraps Previous Plans

Gateway Casinos and Entertainment might have changed its mind when it comes to the exact location of its planned casino venue in London. Previously touted project for a gaming complex at the Western Fair grounds of the city have apparently been scrapped for a more favorable location – near Wonderland Road which has the potential to be more economically beneficial for the development of the new location.

Over the past several months the casino developer and operator has been weighing its options and evaluating the pros and cons of potential development in the Western Fair area of London. However, over the span of the negotiations, it became clear that they are going to expand and take way longer than initially projected. This prompted the casino operator to look around for other possible land lots where the CA$140-million casino project could thrive.

Long-Winded Negotiations Prompt a Change of Plans

Lease documents necessary for the arrangement have already been signed with the current owner of the land lot – the concrete company N-J Spivak. At the moment there is also a part of the location which hosts used cars. Sasa Glavas is the currently renting the location with its 519 cars and he has already agreed to the relocation, as the decision was anticipated for some time.

The relocation decision came as a result of more than a year and a half spent in negotiations and attempting to work the whole thing out between the City Hall and Gateway Casinos. Following the period of discussions, London officials even recently decided to rezone the Western Fair where the casino project was originally planned to be built. This move strove to facilitate the entire process and boost the project forward.

According to the most recent confirmation coming from Rob Mitchell, Spokesperson for Gateway Casinos, this will be the final location for the future casino resort. All pros and cons have been evaluated and the property will be able to welcome a gaming venue with as many as 1.200 slot devices and 46 table games. In addition to that, there will also be more family-friendly offerings on site, bringing the area a brand new hotel tower able to welcome people from near and far.

Rezoning Projected to Happen Soon

In the meantime, the announcement also reached Western Fair District and President Hugh Mitchell stated that this decision is going to have an impact on the future operation on site. Since for many months now the location has been preparing for a casino venue, this will inevitably render a significant empty space in future operation on site.

With the help of this move, Gateway Casinos is hoping to draw potential casino patrons and customers as they are interested in the area of Southdale and Exeter roads. This is a busy region thanks to the existing White Oaks Mall, but people are also willing to make it to the nearby Wonderland Road featuring other retail offerings. As it has been confirmed, the location is going to provide as many as 700 jobs to both residents of the community and people from nearby cities.

The new location will also have to be rezoned, as a casino venue operation mandates it. This is going to prompt the public opinion as well, as this directly affects the community and its well-being. What is certain at this point, is that a gaming facility operation is going to boos the city coffers, as a portion of the gaming revenue will be allocated to the City Hall.