Onex Corp. Prepared To Move Into American Casino Industry

Onex Corp. has decided that the growth of casino gambling in the United States is such, tat they should get in on the action. They have partnered with a former MGM president, an are ready to make their move into the market.

Tropicana Entertainment LLC. has been struggling for some time now, even filing for bankruptcy. The company is in dire need of someone to come in and save them, and Onex just might be the right fit.

While Onex is looking to make a splash in the industry, they have not limited their sites to only Las Vegas. Many states are in the process of expanding casino gambling, and most of them would be suitable for Onex.

"I wouldn't say Vegas necessarily, but we're looking at gaming properties. It's a stable business. you clearly have to be in he right parts of it. But all the statistics on gaming show it's been a modestly growing, to fast growing, business for thirty years or more," said Gerald Schwartz of Onex.

The company has partnered with someone who knows a thing or two about casino gambling. Alex Yemenidjian, who was once president of MGM Grande, will be right there with Onex every step of the way.

"Alex clearly has an excellent view of the playing field and the players," said industry analyst, Jeffrey Logsdon. The group will be moving rather quickly to make their move into the market.

May 9, 2008
Posted By Susan Torres
Staff Editor, CasinoGamblingWeb.com
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