As the Ontario Lottery and Gaming Corp. considers bids, Caesars Entertainment is in competition with Bally's and Mohegan for the management of its Windsor casino in Ontario. The choice, which is anticipated in Q3 or Q4, may change Caesars' overall strategy and have an effect on its lucrative managed casino business. Caesars is positioned as a leader in the competitive license renewal due to its loyalty program and iGaming expertise.
Both the current operator and the regulatory organization that owns the casino, Ontario Lottery and Gaming Corp., are reportedly considering bids for the operating rights of Caesars Windsor, along with Bally's (NASDAQ: BALY), Mohegan Gaming & Entertainment, and the Mohegan Tribe of Connecticut.
Three bids for running the Windsor casino have been received by the Ontario Lottery and Gaming Corp., according to people with knowledge of the matter who spoke to the Globe and Mail under anonymity. Neither the gaming companies nor the regulatory body responded to the newspaper's request for comments.
The Ontario Lottery and Gaming Corp. might make a decision to the Windsor casino's operator in the third or fourth quarter. In the event Caesars were to be replaced, the new operator would take over the venue in 2025.
When Eldorado Resorts announced plans to purchase the former Caesars in 2019, CEO Tom Reeg—who is currently in charge of the Caesars—stated that foreign prospects would need to be “stupendous” for the combined company to consider expansion outside of the US.
Since then, the operator of Harrah's has shelved plans involving markets outside of the country. As an alternative, there is Caesars Windsor. It is unquestionably close to the United States and has a big impact on Caesars' incredibly profitable managed casino business. This division oversees gaming facilities for other owners, including the Ontario Lottery and Gaming Corp. and Native American tribes.
Additionally, Caesars Windsor is the greatest alternative to the commercial casinos in Detroit because it is the operator's only land-based venue in Michigan.
An alternative course of action by the Ontario Lottery and Gaming Corp. might be detrimental to Windsor and the province at large. Even though Bally's and Mohegan have sizable operations throughout the US and, in the case of the latter, abroad, no company can match Caesars' level of brand recognition. That component, in the opinion of many, is crucial to revitalizing Windsor and increasing tourism there.
There are still some fascinating issues to consider. In 2018, the Ontario regulator came under fire for giving Mohegan two licenses for casinos near Niagara Falls, despite Caesars's pledge to increase capital expenditures for the establishments' upgrades.
If Caesars was fired by the Ontario regulator, the new operator would have to shell out almost $60 million to rebrand the Windsor casino. Even though Mohegan and Bally's have the financial means to do so, their operators won't have the same level of success as Caesars.
The Globe and Mail reports that regulators will probably consider that given that the casino contributes 2.5% of Windsor's annual budget.
In a similar vein, Caesars' largest loyalty program in the industry and the operator's proficiency with iGaming and sports betting are considered advantages over rival Windsor casino brands. The scuttlebutt right now indicates that Caesars is actually ahead of the competition for the Windsor license.
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