Clairvest Group Inc. and an investment fund it manages will put up about a third of the equity for Casino New Brunswick, the casino hotel complex due to open in 2010 near Moncton, New Brunswick.
The merchant bank invests its own capital as well as funds managed by it into ventures with “the potential to generate superior returns.” It then sells the assets for a profit after they’re developed.
The $90 million casino, New Brunswick’s first, will feature 600 slot machines, 20 table games and eight poker tables.
Despite an eight-foot wooded buffer zone and security fence between the
complex and neighborhoods, Moncton
residents are hardly unanimous in their support of the casino complex, to be built in the Magnetic Hill section.
“Within a couple years, instead of birds we’ll have cars in our backyards practically,” resident Jacques Saindon told The Canadian Press.