Two of Canada’s biggest casino operators conceded defeat to U.S. gambling companies in the Niagara Falls casinos bidding wars, according to The Globe and Mail report.
Canadian casino operators Gateway Casinos and Entertainment Ltd. and Great Canadian Gaming Corp. folded their respective bids for Ontario Lottery and Gaming Corp. (OLGC)-owned Casino Niagara and Fallsview Casino Resort after the prices of the two Niagara properties became too steep.
With the Canadian casino operators out of the picture, the remaining bidders for the two properties were Caesars Entertainment Corp., Hard Rock Cafe International Inc. and Mohegan Sun Inc.
Sources involved in bids claimed that two of the U.S. casino operators have been aggressive in placing offers, which resulted in the increase of the properties’ values. What made the Niagara Falls casinos attractive to American casino operators was the fact that they could link it to their global client loyalty program.