On April 6, 2007, the Baccarat Casino Facility could expand more quickly than the original plan after being acquired by the New World Gaming Partners Ltd., which is also planning to acquire the Gateway Casinos Income Fund. The Baccarat Casino is operated by the managers of the Gateway Casinos Income Fund, but has operated outside of the fund.
According to Brian Hetherington, the new owner (a partnership between Australian companies) would give the Baccarat Casino more room to grow. The owners of the Baccarat Casino planned to construct a bigger casino/entertainment area, then remove the old gambling casino and construct a Real Canadian Superstore on the location.
Just last November, the city council blocked the casino’s application to acquire half a hectare of the property that is next to the city park reserve, while waiting for the approval of the proposal.
The owners of the casino were expected to give their proposal, but Larry Benowski, the General Manager of the City’s Planning and Development Department, said that no application has been given to them yet.
The Baccarat Casino has also been mentioned as one of the possible partners for the new establishment will contain a hockey complex, office towers, condominiums, hotel, retail business space and a new casino facility. Mayor Stephen Mandel commented that he is in favor of the idea of building a new hockey complex, as long as it is in the budget.
Hetherington commented that no offer has been discussed to include the Baccarat Casino in the plans for downtown. Mayor Mandel added that the complex will be complete in 6 years. Things must be done in a minimal period of time for the Baccarat Casino. They can not wait for a decision regarding the arena.
After the sale, the Baccarat Casino will not dismiss its current officials, which are still committed to expanding their business. Hetherington said that the prospective buyer of the casino is respected in the games and entertainment industry and is likely to be supportive of the move.
17–2007
