Unveiling the Ownership Mystery of Woodbine Casino

Woodbine Casino, located in Toronto, Ontario, Canada, has been a prominent entertainment destination since its inception in 1967. As one of the most visited casinos in Canada, it has garnered considerable attention over the years. However, one question that often arises is: Who owns Woodbine Casino? This article delves into the history and ownership structure of this renowned establishment.

Woodbine Entertainment Group (WEG)

The ownership of Woodbine Casino can be traced back to Woodbine Entertainment Group (WEG), a company that operates several entertainment facilities in the Greater Toronto Area. WEG was founded in 1971, and its primary focus is on horse racing, slots, and gaming. The group acquired the Woodbine Racetrack in 1983, which later led to the establishment of Woodbine Casino.

The evolution of ownership

Since its inception, the ownership of Woodbine Entertainment Group has undergone several changes. Initially, the Ontario Jockey Club (OJC) was the primary owner of the group. However, in 2003, the OJC sold its shares to a consortium of investors, including Ontario Teachers' Pension Plan (OTPPI) and BCE Emergis. This consortium became the majority shareholder of WEG, marking a significant shift in ownership.

In 2007, the ownership structure of WEG changed once again. BCE Emergis sold its shares to OTPPI, which now holds a majority stake in the company. OTPPI is a public pension plan that manages the retirement funds of teachers in Ontario. As of now, OTPPI remains the majority shareholder of Woodbine Entertainment Group.

The role of the Ontario Lottery and Gaming Corporation (OLGC)

It is important to note that the Ontario Lottery and Gaming Corporation (OLGC) plays a crucial role in the operation of Woodbine Casino. The OLGC is responsible for regulating and overseeing the gaming industry in Ontario. Woodbine Casino, being a licensed gaming establishment, operates under the supervision of the OLGC.

Woodbine Casino's gaming license

To operate as a gaming establishment, Woodbine Casino requires a gaming license from the OLGC. This license allows the casino to offer various gaming options, including slots, table games, and poker. The OLGC ensures that all gaming activities at Woodbine Casino adhere to strict regulations and standards.

The impact of ownership on Woodbine Casino

The ownership structure of Woodbine Entertainment Group, and consequently Woodbine Casino, has had a significant impact on the casino's operations and growth. With OTPPI as the majority shareholder, the casino has received substantial investment, which has led to several improvements and expansions.

Expansion projects

Under OTPPI's ownership, Woodbine Casino has undergone several expansion projects. These projects include the addition of new slot machines, the renovation of the gaming floor, and the development of a new entertainment venue called the Event Centre. These expansions have helped to enhance the overall gaming experience for patrons.

Community engagement

Ownership by OTPPI has also led to increased community engagement by Woodbine Casino. The company has initiated various programs and initiatives aimed at supporting local communities and promoting responsible gaming. These efforts have helped to build a positive reputation for the casino among residents of Toronto and the surrounding areas.

Frequently Asked Questions (FAQs)

1. Who owns Woodbine Casino?

Answer: Woodbine Casino is owned by Woodbine Entertainment Group (WEG), with Ontario Teachers' Pension Plan (OTPPI) holding a majority stake in the company.

2. How did the ownership of Woodbine Casino change over the years?

Answer: The ownership of Woodbine Casino has undergone several changes. Initially, the Ontario Jockey Club (OJC) was the primary owner, but in 2003, the OJC sold its shares to a consortium of investors, including OTPPI and BCE Emergis. In 2007, BCE Emergis sold its shares to OTPPI, making it the majority shareholder.

3. What is the role of the Ontario Lottery and Gaming Corporation (OLGC) in the operation of Woodbine Casino?

Answer: The OLGC is responsible for regulating and overseeing the gaming industry in Ontario. Woodbine Casino operates under the supervision of the OLGC, ensuring that all gaming activities adhere to strict regulations and standards.

4. How has the ownership of Woodbine Casino impacted its operations and growth?

Answer: Ownership by OTPPI has led to significant investment, resulting in several improvements and expansions at Woodbine Casino. These include the addition of new slot machines, the renovation of the gaming floor, and the development of the Event Centre.

5. What community engagement initiatives has Woodbine Casino undertaken?

Answer: Woodbine Casino has initiated various programs and initiatives aimed at supporting local communities and promoting responsible gaming. These efforts have helped to build a positive reputation for the casino among residents of Toronto and the surrounding areas.