Canadian pharma company ventures into Euro Casino

Publish: 04.09.2018
Easton Pharmaceuticals Inc., a Canadian pharma company, has recently submitted a Letter of Intent to participate in a European hotel and casino resort building project. The name, location and other details of the property are being kept a secret as negotiations are underway. Once the plan is finalized, these details could emerge over the course of the next few months.

Easton revealed in a recent press release that the integrated casino will consist of 1,000-slot machine gaming floor, complete with 50 gaming tables and a salon prive. The complex will also include 538 rooms with exclusive VIP suites, a wellness center, a spa, retail options, dining options, expo facility and a large parking garage. The press release also suggests that the high-end clients will be targeted via the casino resorts ‘idyllic river’ setting.

The Canadian pharma company will partner with the American gaming wing of a local investment company, which is expected to lead the casino project. The resort is expected to bring in annual revenues of over 77 million euros. Evan Karras, Easton Pharma CEO said that his company is looking forward to the development of the new casino, which will be one of the most ‘prominent of its kind’ once it is fully operational.

Easton is currently seeking to expand its presence in the international gambling market. Their participation in the project is a testimony to this goal. It seeks to generate growth for the company and bring more value to its shareholders.

This is Easton’s second gambling and casino project in the past one month. Earlier in August, it confirmed that it aims to acquire one of the nine legal casinos in Greece fully or partially. The company is in talks with several parties to purchase the operational casino resort.

The casino property in Greece consists of over 1,000 slot machines, 87 gaming tables and a VIP area along with 255 hotel rooms and 20 VIP suites. It also features a spa, convention facilities, a private beach and eight restaurants.

Greece first privatized its gambling sector in the 1990s, and Easton CEO Karras was involved in the process. He still maintains strong business relationships with the local industry. According to the press release, he Karras has operated casino resort properties before. As the plan for the European casino resort is finalized, Easton could reveal more details and the location of their second project.