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Alberta Sees Surge in Casino Earnings

This month Alberta saw Reddier’s former Cambridge hotel and conference center reopen as Reddier Resort and Casino. 릴게임사이트 Another significant investment in the state’s gambling sector in 2023. The opening of the game venue was the relocation of Red Deer’s existing jackpot casino.

About two years ago, O’Chiese Hospitality Limited Partnership acquired the former Cambridge Hotel and Conference Centre from Temple Hotels Inc. as a venture of O’Chiese First Nation, which had a long-term vision of a project to strengthen the resort as part of its economic development strategy in the region.

George Yammin, CEO of O’Chiese Business and Investment Center, recently noted that the completion and launch of the gaming segment was a major achievement for the company and City of Red Deal. He believes casinos will be an important driver of tourism and economic growth in the region, and a hot spot for entertainment in the region.

In interviews from 2021, Douglas Beverbones, chief executive of O’Chiese First Nation, said the company had gambled with the property but has now paid off. He shared that they could make money from it after the effects of the unprecedented situation dissipated. The property’s 38,000-square-foot casino is a relocation of the city’s Jackpot Casino, which the company bought in 2017.

Alberta Game & Liquor Cannabis announced that no new electronic game consoles have been installed at the venue, but table games have been added to the offering. In addition to the casino, Ochies also renovated rooms at the property in August 2023, beginning demolition of two nightclubs on both sides of the resort. The two clubs in question are Long Riders Saloon and Bellinis Sonic Lounge.

Alberta’s gambling operators have seen an improvement in numbers since health restrictions ended a year or two ago, allowing more public gatherings. AGLC, for example, reported a surge in charity game revenue to C$1.2 billion in its latest fiscal year from C$495 million in the previous year. It also said net sales of VLTs and slots increased by 50%.

In another move in the sector, Calgary’s Ace Casino moved to a new home next to Calgary International Airport. Also in October, developer Kurt Velich launched an 88-slot casino on Lacombe’s Racing Entertainment Track On 2. VICI Properties has also expanded its portfolio by acquiring several properties in the region.

The New York-based company has signed a deal to acquire four properties from Century Casino Inc. for approximately C$221.7 million. The agreement was signed after the acquisition of four casinos for C$271.9 million from Pure Canadian Gaming Corporation in January 2023. Both transactions were sale leases that promised VICI an attractive long-term lease income.

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