On August 3, 2017, the public-private partnership transaction to design, build, finance and maintain a new entertainment centre in Niagara Falls achieved financial close, with Niagara Falls Entertainment Partners General Partnership (“NFEPGP”) being the chosen consortium.
The request for proposals for this project was issued by the Ontario Lottery and Gaming Corporation (“OLG”) and is a critical part of its modernization of the Niagara casinos. The facility will accommodate larger concerts, shows and attractions and is expected to draw more visitors to the City of Niagara Falls and OLG’s casinos. The Manufacturers Life Insurance Company and Manulife Canadian Private Debt Fund arranged a long-term credit facility in favour of NFEPGP to partially finance the project.
The new entertainment centre will provide seating for over 5,000 patrons, feature a performance space with multiple stage configurations, and include a connection to the Fallsview Resort complex. As part of its modernization of the Niagara casinos, OLG will be entering into an operating agreement with a third-party service provider who will operate the new entertainment centre.
DLA Piper (Canada) LLP advised NFEPGP throughout all stages of the transaction, with a team led by Andrew Burton and including Elizabeth Mayer, Andrew McFarlane, Stephen Morris, Natasha Rana and Christian Orton. One of the leading infrastructure law firms in North America, we have been involved in shaping the development of the Canadian PPP and infrastructure market since its inception in 1999. Our highly experienced and knowledgeable team of lawyers have acted on over 75 PPP transactions for clients in Canada and around the world.