Richmond-based Great Canadian Gaming Corp. (TSX:GC) has received approval to more than double the number of slot machines at its Georgian Downs racetrack near Toronto.
The Ontario Lottery and Gaming Corp. will allow up to 1,000 slot machines to be installed on site, which currently has 451. The OLGC will receive 10% of all slot machine revenue through to November 30, 2021, with an option to extend the deal to 2026.
The added slot machines are part of a $30.3 million redevelopment plan to expand Georgian Downs, which provides standardbred horseracing twice a week and daily simulcast wagering.
The site's redevelopment is expected to be completed in late 2008 or early 2009.
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