Camrose Casino confirms plans to move to Edmonton

Its parent company, Mayfield Investments, recently went into receivership due to outstanding debt.

Camrose Casino in the Canadian province of Alberta said it still plans to move its destination to Edmonton despite recent financial trouble, according to a CBC News report.

Mayfield Investments Ltd. currently owns the destination and runs it through its Camrose Casino Corp. company.

The company was previously denied its bid last year to relocate. The Camrose Casino wants to relocate its facility to 420 Parsons Road, the local report said.

After Alberta Gaming, Liquor and Cannabis (AGLC) denied the previous application, the company submitted another pitch, which outlined plans for an 88,000 square-foot venue that would be home to 498 slot machines and 25 table games.

After review and opening the floor for public debate, the group recently received the go-ahead to relocate the facility from AGLC.

However, Mayfield Investments was put into receivership last month, just weeks after AGLC approved the request to relocate. This is due to the debt the company owes to ATB Financial.

There is currently a deal in place to sell the casino’s gambling license, according to the local report. The license would be sold to Capital City Casinos Ltd.

Per the terms of the agreement, Capital City Casinos would acquire the license for more than $3.9m. This would give Capital City Casinos the option to further develop and operation the casino after its move to Edmonton.

Mayfield Investments told CBC News that the deal is moving forward, and the buys has “already paid most of the money.”

Camrose Casino currently offers players a variety of slots, VLTs and table games. Players have access seven days a week to Classic Blackjack, Roulette, and Ultimate Texas Hold’em 7.

Laura Mack

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