N.B. selects Sonco to bid on casino

Published Wednesday May 14th, 2008

The Canadian Press

New Brunswick’s government has chosen a group led by privately held Sonco Gaming and including Toronto merchant bank Clairvest Group Inc. to build and operate a new destination casino.

The selection of the partnership as the “preferred proponent” is conditional on an agreement with the Lotteries Commission of New Brunswick.

The proposed casino in the Moncton area is expected to create 400 full-time equivalent jobs and cost about $90 million. It will include a 128-room resort hotel, an entertainment/conference and convention facility and is expected to open in 2010. About 770 jobs will be created during construction.

No government funds are to be involved in the design, construction, equipping or operation of the facility.

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