In a very unexpected turn of events, major Canadian pharmaceutical company, Easton Pharmaceuticals Inc., has announced its involvement in the development of a brand new casino and entertainment resort in Europe. The exact location of the intended resort has not yet been made public, but the group has already filed an official letter of intent regarding the development.
The company will be operating in partnership with its American leg of business, and as soon as negotiations have been finalised, more details will be released regarding the proposed development.
A fistful of information has been released via a press release. The company confirmed that the new integrated resort will include a casino featuring 1,000 slot machines and 50 games tables, a luxury hotel which will be home to 538 rooms as well as various VIP suites, a spa and wellness centre, retail space, and of course, a 504 lot under-roof parking space.
An indication was also given that the resort will be situated in an idyllic river area, and that it is expected to generate revenue income to the tune of €77 million, annually.
Evan Karras, Chief Executive Officer for Easton Pharmaceuticals, said that the deal was part of the company’s expansion strategy and would serve to create value. This is not the first time that the pharmaceutical giant has expressed interest in the development of a casino resort.
Earlier this month, the company announced its involvement in negotiations for the acquisition of an existing hotel and casino in Greece. According to a press release regarding the details of the existing operation, this particular resort consists of a casino and hotel of similar proportions to the proposed new development.
Karras himself is no newcomer to the casino industry, having been involved in privatisation of Greece’s gambling sector back in the 90’s. Via his involvement back then, he has managed to establish many firm contacts in the industry, and is well aware of how the entertainment industry functions.
Easton Pharmaceuticals is expected to release complete details about the new development, as well as their involvement in the existing resort, just as soon as all of the negotiations have been finalised.